Mosaic Company Earnings: Double-Digit Growth Again

Mosaic Company The (NYSE:MOS) reported higher profit for the first quarter as revenue showed growth. The Mosaic Company is a producer and marketer of concentrated phosphate and potash crop nutrients for the global agriculture industry.

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Mosaic Company The Earnings Cheat Sheet for the First Quarter

Results: Net income for Mosaic Company The rose to $526 million ($1.17 per share) vs. $297.7 million (67 cents per share) in the same quarter a year earlier. This marks a rise of 76.7% from the year earlier quarter.

Revenue: Rose 40.9% to $3.08 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: MOS fell short of the mean analyst estimate of $1.63 per share. It beat the average revenue estimate of $2.54 billion.

Quoting Management: “We just completed another excellent quarter for Mosaic,” said Jim Prokopanko, president and chief executive officer of Mosaic. “Strong agricultural markets combined with our strength in execution are leading to excellent financial results, including the second highest gross margin for a first quarter in our history. ”

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 45.8%, with the biggest boost coming in the second quarter of the last fiscal year when revenue rose 56.4% from the year earlier quarter.

The company has now seen net income rise in three straight quarters. In the fourth quarter of the last fiscal year, net income rose 63.9% and in the third quarter of the last fiscal year, the figure rose more than twofold.

The company has now fallen short of estimates in the last two quarters. In the fourth quarter of the last fiscal year, it missed expectations by 10 cents with net income of $1.17 versus a mean estimate of net income of $1.27 per share.

Margins rose in the fourth quarter of the last fiscal year after falling the quarter before. Gross margin rose 4.4 percentage points to 27.5% from the quarter earlier quarter. In the third quarter of the last fiscal year, the figure rose 2.2 percentage points to 34.8% from the year earlier quarter.

Competitors to Watch: Potash Corp./Saskatchewan (NYSE:POT), Agrium Inc. (NYSE:AGU), CF Industries Hldgs., Inc. (NYSE:CF), Intrepid Potash, Inc. (NYSE:IPI), AgFeed Industries (FEED, Converted Organics Inc. (COIN), and Monsanto Company (NYSE:MON).

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(Source: Xignite Financials)