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Sep 30, 2024
Mosaic Q3 2024 Earnings Report
Mosaic's Q3 2024 results were reported, with a net income of $122 million and Adjusted EBITDA of $448 million, despite operational interruptions and weather events.
Key Takeaways
Mosaic reported a net income of $122 million for Q3 2024, with adjusted EPS at $0.34 and adjusted EBITDA at $448 million. The company faced operational interruptions and weather events but managed to recover, with phosphate production returning to full capacity. Clint Freeland is set to retire as CFO, to be succeeded by Luciano Siani Pires.
Third quarter net income was reported at $122 million, with an Adjusted EBITDA of $448 million.
Clint Freeland will retire at year-end and will be succeeded by Luciano Siani Pires as CFO.
Phosphate production returned to full operating capacity after hurricane impacts and is on track to reach the target annual run rate by the end of the year.
Mosaic Biosciences achieved 9 million acres of coverage in key markets this 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 provided modeling assumptions for the full year 2024.
Positive Outlook
- Grain and oilseed fundamentals are strong.
- Improving corn and soybean prices around the world and solid prices for other crops continue to incentivize farmers to apply fertilizers.
- North America is expected to have a long fall fertilizer application season as harvest has progressed ahead of schedule.
- Weather conditions in Brazil have improved since mid-October and this should limit the delay in planting of the Safrinha crop.
- The global potash market remains balanced driven by demand growth and record consumption across the globe.
Challenges Ahead
- Chinese phosphate exports for the first 9 months of 2024 declined 8 percent or over half a million tonnes from the prior year, and the long-term outlook remains favorable as Chinese domestic use and industrial needs will continue to be prioritized over fertilizer exports.
Revenue & Expenses
Visualization of income flow from segment revenue to net income