Mosaic Exceeds Expectations in 2nd Quarter

Fertilizer manufacturer Mosaic (NYSE:MOS) posted higher than expected profits for its fiscal second quarter. It earned $623.6 million ($1.40 a share) as against $1.03 billion ($2.29 a share) in the same period a year ago. Analysts had expected earnings to come in at $1.28 per share for the quarter. Sales revenue rose 13 percent to $3.01 billion, while analysts had estimated $3.2 billion.

The results were in spite of a 14 percent drop in sales volume of its phosphate nutrient and flat sales of potash. Both these products saw higher selling prices, however.

“While we expect third quarter results to decline due to near-term macroeconomic uncertainty and cautious distributor purchasing behavior, we remain confident of the strong long-term demand prospects for our products,” Mosaic Chief Executive Jim Prokopanko said in a statement.

Last week the company had announced that it was curtailing production of its phosphate product due to demand considerations.

Further Reading on Mosiac: Mosaic Company Earnings: Profit Drop Breaks Four Consecutive Quarters of Growing Profits>>

Here’s how Mosaic and a few of its competitors are trading and reacting to the latest quarterly earnings release:

Mosaic Co. (NYSE:MOS): MOS shares recently traded at $53.96, up $1.66, or 3.17%. They have traded in a 52-week range of $44.86 to $89.24. Volume today was 7,678,295 shares versus a 3-month average volume of 5,729,100 shares. The company’s trailing P/E is 8.82, while trailing earnings are $6.12 per share.

Monsanto Co. (NYSE:MON): MON shares recently traded at $76.33, up $3.66, or 5.04%. They have traded in a 52-week range of $58.89 to $78.71. Volume today was 6,672,076 shares versus a 3-month average volume of 4,075,220 shares. The company’s trailing P/E is 25.75, while trailing earnings are $2.96 per share.

Potash Corp. of Saskatchewan, Inc. (NYSE:POT): POT shares recently traded at $43.25, up $0.38, or 0.89%. They have traded in a 52-week range of $38.42 to $63.97. Volume today was 9,363,598 shares versus a 3-month average volume of 7,798,990 shares. The company’s trailing P/E is 13.05, while trailing earnings are $3.32 per share.

Deere & Company (NYSE:DE): DE shares recently traded at $81.74, up $1.27, or 1.58%. They have traded in a 52-week range of $59.92 to $99.80. Volume today was 1,968,465 shares versus a 3-month average volume of 4,456,930 shares. The company’s trailing P/E is 12.33, while trailing earnings are $6.63 per share.

Caterpillar Inc. (NYSE:CAT): CAT shares recently traded at $95.98, up $1.13, or 1.19%. They have traded in a 52-week range of $67.54 to $116.55. Volume today was 3,059,597 shares versus a 3-month average volume of 8,863,460 shares. The company’s trailing P/E is 14.67, while trailing earnings are $6.54 per share.

To contact the reporter on this story: Brooke Edge at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com