Sector: Materials|Industry: Agricultural Inputs|Market Cap: $8.07B|Employees: 14K
The Mosaic Company, through its subsidiaries, produces and markets concentrated phosphate and potash crop nutrients in North America and internationally. The company operates through three segments: Phosphates, Potash, and Mosaic Fertilizantes. It owns and operates mines, which produce concentrated phosphate crop nutrients, such as diammonium phosphate, monoammonium phosphate, and ammoniated phosphate products; and phosphate-based animal feed ingredients primarily under the Biofos and Nexfos brand names, as well as produces a double sulfate of potash magnesia product under K-Mag brand name. The company also produces and sells potash for use in the manufacturing of mixed crop nutrients and animal feed ingredients, and for industrial use; and for use in the de-icing and as a water softener regenerant. In addition, it provides nitrogen-based crop nutrients, animal feed ingredients, and other ancillary services; and purchases and sells phosphates, potash, and nitrogen products. The company sells its products to wholesale distributors, retail chains, farmers, cooperatives, independent retailers, and national accounts. The company was incorporated in 2004 and is headquartered in Tampa, Florida.
Net sales decreased to $2.82B from $3.39B in the prior year, primarily due to lower average selling prices in both the Phosphate and Potash segments. This indicates a weakening market environment and pricing pressure.
Gross margin decreased to $394.0M from $571.1M in the prior year, with the gross margin percentage declining from 17% to 14%. This decline is attributed to lower sales volumes and pricing pressures, impacting overall profitability.
The company reported a foreign currency transaction loss of $267.9M compared to a gain of $148.5M in the prior year. This swing significantly impacted net earnings, resulting in a net loss of $161.5M compared to net earnings of $369.0M in the prior year.