Mosaic Q3 Earnings Stunted, Fertilizer Dealers Continue To Shun Risk
By The Mays Report:
By G C Mays
When I wrote, "Mosaic 3Q Earnings Preview: How Did Fertilizer Slowdown Impact Earnings?", I concluded by noting that earnings could be disappointing and slow the stocks recent rise over the short-term. When Mosaic's (MOS) third quarter results were actually released they did indeed disappoint. Company earnings of $0.64 per share was well short of consensus estimates of $0.75. Revenues of $2.19 billion were basically flat compared to net sales of $2.21 billion during the same period a year ago. However, what has caught my attention is that fertilizer dealers in North America remain risk averse. Will dealers continue to shun risk throughout the fourth quarter as they did during the third? Or can we expect them to add to their inventories once the planting season begins? Phosphates Phosphate sales were stronger than expected in the third quarter with 2.6 million tons sold, which was at theComplete Story »
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