Mosaic Announces January and February 2022 Revenues and Sales Volumes
The Mosaic Company (NYSE:MOS) reported its sales volumes and revenues for January and February 2022, showing significant growth despite logistical challenges. Potash sales volumes reached 1,048,000 tonnes, generating revenues of $604 million, while phosphates sold 999,000 tonnes for $873 million. In contrast, sales volumes decreased from 1,241,000 tonnes for potash and 1,355,000 tonnes for phosphates in the same period last year. However, logistical constraints and a potential Canadian railway work stoppage could impact future sales.
- Potash sales revenues increased to $604 million, up from $295 million year-over-year.
- Phosphates sales revenues rose to $873 million, compared to $634 million a year earlier.
- Sales volumes for potash decreased from 1,241,000 to 1,048,000 tonnes year-over-year.
- Sales volumes for phosphates dropped from 1,355,000 to 999,000 tonnes compared to the previous year.
- Logistical constraints and potential Canadian Pacific Railway work stoppage may affect future sales volumes.
TAMPA, FL / ACCESSWIRE / March 21, 2022 / The Mosaic Company (NYSE:MOS) announced its combined January and February 2022 sales volumes and revenue by business unit.
Potash(1) | Jan/Feb 2022 | Jan/Feb 2021 | ||||
Sales Volumes in thousands of tonnes(2) | 1,048 | 1,241 | ||||
Sales Revenues in millions | $ | 604 | $ | 295 | ||
Phosphates(1) | Jan/Feb 2022 | Jan/Feb 2021 | ||||
Sales Volumes in thousands of tonnes(2) | 999 | 1,355 | ||||
Sales Revenues in millions | $ | 873 | $ | 634 | ||
Mosaic Fertilizantes(1) | Jan/Feb 2022 | Jan/Feb 2021 | ||||
Sales Volumes in thousands of tonnes(2) | 1,118 | 1,429 | ||||
Sales Revenues in millions | $ | 870 | $ | 523 | ||
(1)The revenues and tonnes presented are sales as recognized in the period and do not reflect current market conditions due to the delays between pricing and revenue recognition.
(2)Tonnes = finished product tonnes
Logistical constraints continue to impact shipments. Rail delays in Canada and central Florida have persisted through the first two months of the year and are expected to continue through the end of the first quarter. In addition, potash shipments are expected to be further impacted by the Canadian Pacific Railway work stoppage. As a result, sales volumes for the first quarter of 2022 are now expected to be at or near the low end of previous guidance ranges for both Potash and Phosphates.
About The Mosaic Company
The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single source provider of phosphates and potash fertilizers and feed ingredients for the global agriculture industry. More information on the company is available at www.mosaicco.com.
The Mosaic Company Contacts
Investors:
Paul Massoud, 813-775-4260
paul.massoud@mosaicco.com
Media:
Ben Pratt, 813-775-4206
benjamin.pratt@mosaicco.com
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about proposed or pending future transactions or strategic plans and other statements about future financial and operating results. Such statements are based upon the current beliefs and expectations of The Mosaic Company's management and are subject to significant risks and uncertainties. These risks and uncertainties include, but are not limited to: the economic impact and operating impacts of the Covid-19 pandemic, the potential drop in oil demand / production and its impact on the availability and price of sulfur and labor shortages; political and economic instability, civil unrest or armed conflict in countries in which we do business or changes in government policy in Brazil, such as higher costs associated with the new mining rules or the implementation of new freight tables; the predictability and volatility of, and customer expectations about, agriculture, fertilizer, raw material, energy and transportation markets that are subject to competitive and other pressures and economic and credit market conditions; the level of inventories in the distribution channels for crop nutrients; the effect of future product innovations or development of new technologies on demand for our products; changes in foreign currency and exchange rates; international trade risks and other risks associated with Mosaic's international operations and those of joint ventures in which Mosaic participates, including the performance of the Wa'ad Al Shamal Phosphate Company (also known as MWSPC), the timely development and commencement of operations of production facilities in the Kingdom of Saudi Arabia, and the future success of current plans for MWSPC and any future changes in those plans; the risk that protests against natural resource companies in Peru extend to or impact the Miski Mayo mine, which is operated by an entity in which we are the majority owner; customer defaults; the effects of Mosaic's decisions to exit business operations or locations; changes in government policy; changes in environmental and other governmental regulation, including expansion of the types and extent of water resources regulated under federal law, carbon taxes or other greenhouse gas regulation, implementation of numeric water quality standards for the discharge of nutrients into Florida waterways or efforts to reduce the flow of excess nutrients into the Mississippi River basin, the Gulf of Mexico or elsewhere; further developments in judicial or administrative proceedings, or complaints that Mosaic's operations are adversely impacting nearby farms, business operations or properties; difficulties or delays in receiving, increased costs of or challenges to necessary governmental permits or approvals or increased financial assurance requirements; resolution of global tax audit activity; the effectiveness of Mosaic's processes for managing its strategic priorities; adverse weather conditions affecting operations in Central Florida, the Mississippi River basin, the Gulf Coast of the United States, Canada or Brazil, and including potential hurricanes, excess heat, cold, snow, rainfall or drought; actual costs of various items differing from management's current estimates, including, among others, asset retirement, environmental remediation, reclamation or other environmental regulation, Canadian resources taxes and royalties, or the costs of the MWSPC; reduction of Mosaic's available cash and liquidity, and increased leverage, due to its use of cash and/or available debt capacity to fund financial assurance requirements and strategic investments; brine inflows at Mosaic's potash mines or other potash shaft mines; other accidents and disruptions involving Mosaic's operations, including potential mine fires, floods, explosions, seismic events, sinkholes or releases of hazardous or volatile chemicals; and risks associated with cyber security, including reputational loss; as well as other risks and uncertainties reported from time to time in The Mosaic Company's reports filed with the Securities and Exchange Commission. Actual results may differ from those set forth in the forward-looking statements. The Company does not undertake any duty to publicly update any forward-looking statements.
SOURCE: The Mosaic Company
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