Mosaic Q3 Sales, Net Increase
Mosaic's results for the firm's Q3 have been released. For the quarter, net sales were $2.24 billion, an improvement over the $2.19 billion in the same period the previous year. Net profit advanced to $345 million ($0.81 per diluted share) from the year-ago quarter's result of $273 million ($0.64).
The company attributed the gains to "strong demand and improving sentiment in most of our geographies."
Analysts, however, had been expecting top line of $2.29 billion, and EPS of $0.88.
In its earnings release, Mosaic also provided selected forward guidance for its costs. For its current Q4, total capex is anticipated to be $1.5 billion-$1.6 billion, and selling, general, and administrative expenses should come in at $420 million-$440 million.
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