Mosaic (NYSE:MOS) -3.4% post-market on Monday after narrowly lacking Q1 adjusted earnings expectations, as revenues rose 71% Y/Y to $3.92B however in need of estimates, damage by logistical constraints which can be anticipated to enhance however linger into Q2.
Q1 web revenue surged greater than 7x to $1.18B, or $3.19/share, from $157M, or $0.41/share, within the year-earlier quarter; adjusted EBITDA practically tripled to $1.45B from $560M a 12 months in the past.
Q1 potash web gross sales greater than doubled to $1.06B from $477M a 12 months in the past, as gross sales volumes fell ~10% Y/Y to 1.8M metric tons however MOP promoting value jumped to $582 from $200, and adjusted gross margin quadrupled to $323/ton from $82/ton; Mosaic (MOS) stated winter climate affected rail efficiency and delayed shipments.
Q1 phosphates web gross sales jumped 50% Y/Y to $1.5B, as gross sales volumes fell 19% to 1.7M metric tons however DAP promoting value surged to $785 from $477, and adjusted gross margin practically quadrupled to $318/ton from $84/ton; the corporate cited poor rail efficiency and COVID-related labor shortages.
Mosaic Fertilizantes section gross sales roughly doubled to $1.49B, as gross sales volumes fell 14% Y/Y to 1.8M tons however the completed merchandise promoting value jumped to $817 from $370, and adjusted gross margin rose to $130/ton from $50/ton.
Mosaic (MOS) stated greater price of products gross sales mirrored greater costs for bought nitrogen and potash merchandise for distribution and sulfur and ammonia for phosphate manufacturing.
The corporate expects persistent tight markets for each phosphates and potash.
Mosaic’s (MOS) value return has jumped 59% YTD and 72% through the previous 12 months.