The Mosaic Company (MOS) Misses Q3 EPS by 4c

The Mosaic Company (NYSE: MOS) reported Q3 EPS of $0.54, $0.04 worse than the analyst estimate of $0.58. Revenue for the quarter came in at $2.3 billion versus the consensus estimate of $2.54 billion.

"Mosaic delivered improved year-over-year performance despite weakness in the broader agricultural sector," said Jim Prokopanko, President and Chief Executive Officer. "The improving demand momentum for both potash and phosphates that started in the fourth quarter of 2013 continued. We are on pace to deliver more tonnes this year than in any of the last five years, and close to the records of 2008."

"We continued to effectively execute our many recent strategic initiatives. We completed our share repurchase agreement with the Margaret A. Cargill Trusts and continued to return capital to shareholders. In addition, the integration of the former CF Industries phosphate business in Central Florida is proceeding well, we are progressing toward completion of the acquisition of ADM's fertilizer distribution business in Brazil, and the Ma'aden phosphate joint venture is rapidly advancing. Our work to generate cost savings of $500 million over the next five years is ahead of schedule, helping ensure that Mosaic remains a low-cost producer."

For earnings history and earnings-related data on The Mosaic Company (MOS) click here.

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