November 1, 2016 / 10:57 AM / in 2 years

Mosaic quarterly profit slumps 75.5 pct as prices stay low

Nov 1 (Reuters) - Mosaic Co, the world’s largest producer of finished phosphate products, reported a 75.5 percent fall in quarterly profit on Tuesday, due to lower fertilizer prices.

The company’s net earnings fell to $39.2 million, or 11 cents per share, in the third quarter ended Sept. 30 from $160 million, or 45 cents per share, a year earlier.

The U.S. fertilizer company said net sales fell 7.3 percent to $1.95 billion.

Larger rival Potash Corp of Saskatchewan last week reduced its profit guidance for the year, saying that a recovery of the potash market would take more time, and recorded larger-than-expected quarterly earnings. (Reporting by Ismail Shakil in Bengaluru and Rod Nickel in Winnipeg, Manitoba; Editing by Sriraj Kalluvila)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below