Mosaic: quarterly results disappoint; cuts targets
(CercleFinance.com) - Mosaic has announced a net loss of 60 cents per share for Q2 2019, due to extraordinary items such as the closure of the Plant City site, without which the group would have posted EPS of 12 cents.
However, this adjusted EPS is still 17 cents below the consensus, affected by adverse weather conditions in the US Midwest. Again in adjusted data, the phosphate and potash supplier's EBITDA reached 349 million dollars.
Reflecting lower sales volumes than expected in the first half of the year and a slower recovery in phosphate margins, Mosaic now only expects adjusted EBITDA of between 1.8 billion and 2 billion dollars this year, along with adjusted EPS of between 1.10 dollar and 1.50 dollar.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
However, this adjusted EPS is still 17 cents below the consensus, affected by adverse weather conditions in the US Midwest. Again in adjusted data, the phosphate and potash supplier's EBITDA reached 349 million dollars.
Reflecting lower sales volumes than expected in the first half of the year and a slower recovery in phosphate margins, Mosaic now only expects adjusted EBITDA of between 1.8 billion and 2 billion dollars this year, along with adjusted EPS of between 1.10 dollar and 1.50 dollar.
Copyright (c) 2019 CercleFinance.com. All rights reserved.