Mosaic Announces October and November 2022 Revenues and Sales Volumes; Updates Guidance
The Mosaic Company (NYSE:MOS) reported its sales volumes and revenue for October and November 2022. Potash sales volumes reached 1,248,000 tonnes with revenues of $780 million, compared to 1,309,000 tonnes and $529 million in 2021. Phosphate sales dropped to 914,000 tonnes and revenues dropped to $785 million. Additionally, the company anticipates a strong recovery in nutrient application for 2023, backed by high crop prices. However, repairs from Hurricane Ian continue to delay production increases. The fourth-quarter guidance expects potash sales at 1.8-2.0 million tonnes.
- Potash sales revenues increased significantly to $780 million from $529 million year-over-year.
- Projected strong recovery in nutrient application for 2023 supported by high crop prices.
- Potash sales volumes decreased from 1,309,000 tonnes to 1,248,000 tonnes.
- Phosphate sales volumes decreased from 1,145,000 tonnes to 914,000 tonnes, with revenues dropping from $902 million to $785 million.
- Repairs related to Hurricane Ian are expected to extend into early 2023.
TAMPA, FL / ACCESSWIRE / December 28, 2022 / The Mosaic Company (NYSE:MOS) announced its combined October and November 2022 sales volumes and revenue by business unit.
Potash | Oct/Nov | Oct/Nov |
Sales Volumes in thousands of tonnes(1) | 1,248 | 1,309 |
Sales Revenues in millions | ||
Phosphates | Oct/Nov | Oct/Nov |
Sales Volumes in thousands of tonnes(1) | 914 | 1,145 |
Sales Revenues in millions | ||
Mosaic Fertilizantes | Oct/Nov | Oct/Nov |
Sales Volumes in thousands of tonnes(1) | 1,521 | 1,573 |
Sales Revenues in millions |
(1)Tonnes = finished product tonnes
For the fourth quarter, total potash sales volumes are now expected to be in the range of 1.8-2.0 million tonnes with realized MOP pricing at the mine in the range of
Phosphate sales volumes are now expected to be in the range of 1.5-1.7 million tonnes. Guidance for realized DAP prices on an FOB basis remains unchanged at
While demand recovery for both phosphates and potash has been slowed by seasonality in late 2022, Mosaic anticipates 2023 to be a strong year for nutrient application, supported by historically strong crop prices and constructive grower economics. Mosaic will provide additional updates when it reports fourth quarter 2022 earnings results.
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: | Media: |
| Paul Massoud, 813-775-4260 | William Barksdale, 813-775-4208 |
| paul.massoud@mosaicco.com | william.barksdale@mosaicco.com |
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may 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 coronavirus (Covid-19) pandemic, political and economic instability and changes in government policies in Brazil and other countries in which we have operations; 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 future success of current plans for MWSPC and any future changes in those plans; difficulties with realization of the benefits of our natural gas based pricing ammonia supply agreement with CF Industries, Inc., including the risk that the cost savings initially anticipated from the agreement may not be fully realized over its term or that the price of natural gas or ammonia during the term are at levels at which the pricing is disadvantageous to Mosaic; 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; 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.
SOURCE: The Mosaic Company
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FAQ
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