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Jun 30, 2024
Mosaic Q2 2024 Earnings Report
Mosaic's financial performance reflected a net loss, but strategic initiatives led to increased phosphate production and cost savings.
Key Takeaways
The Mosaic Company reported a net loss of $162 million for the second quarter of 2024, with adjusted EPS at $0.54 and adjusted EBITDA at $584 million. Revenues totaled $2.8 billion, a 17% decrease from the previous year, primarily due to lower selling prices. The company saw increased phosphate production volumes and made progress on cost-saving initiatives.
Net loss of $162 million, Adjusted EBITDA of $584 million.
Phosphate production volumes increased almost 100,000 tonnes sequentially.
Significant progress made on cost saving initiatives.
Accelerating Mosaic Biosciences growth; achieved 5 million acres of coverage in North and Central America in the 2024 crop year.
Mosaic
Mosaic
Mosaic Revenue by Segment
Revenue by Segment
Potash Revenue
CapyFin.comPhosphates Revenue
CapyFin.comMosaic Fertilizantes Revenue
CapyFin.com Forward Guidance
The Company provides the following modeling assumptions for the full year 2024:
Positive Outlook
- Total Capital Expenditures $1.1 - 1.2 billion
- Depreciation, Depletion & Amortization Approx. $1 billion
- Selling, General, and Administrative Expense $470 - $500 million
- Net Interest Expense $160 - $180 million
- Effective tax rate High 20’s %
Challenges Ahead
- Cash tax rate Mid 30's %
- Average MOP Price / tonne (fob mine) $10/mt price change = $60 million
- Average DAP Price / tonne (fob plant) $10/mt price change = $70 million
- Approximately 20% of DAP price sensitivity impact is expected to be in the Mosaic Fertilizantes segment
- Approximately 5% of the MOP price sensitivity impact is expected to be in the Mosaic Fertilizantes segment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income