REUTERS — Despite fertilizer prices approaching levels not seen since the 2008 food crisis, when they hit an all-time high, Mosaic posted second-quarter adjusted earnings of $3.64 per share, missing analysts’ expectations of $4.04 a share.
Net sales jumped 92 percent to $5.37 billion but missed the consensus of $5.62 billion.
Mosaic, the world’s largest producer of finished phosphate products, said net sales in its phosphates segment grew to $1.8 billion from last year’s $1.2 billion.
CF Industries Holdings, which overtook Mosaic in market capitalization during the quarter to become the world’s third-biggest fertilizer maker, posted record quarterly profits.
Net income attributable to CF was $1.17 billion, or $5.58 a share, in the quarter ended June 30, compared to last year’s $246 million, or $1.14 per share.
