Mosaic‘s (MOS – Analyst Report) profits jumped in second-quarter 2015, helped by higher phosphate sales volumes, increased potash pricing and the company's cost-cutting actions.
Mosaic logged a profit of $390.6 million or $1.08 per share in the reported quarter, surging roughly 57% from $248.4 million or 64 cents a share a year ago. Earnings, barring one-time items, were $1.05 per share, topping the Zacks Consensus Estimate of 91 cents.
The Minnesota-based company's revenues rose roughly 2% year over year to $2,487.5 million in the quarter as a decline in the potash unit was more than offset by gains in other businesses. Sales, however, missed the Zacks Consensus Estimate of $2,687 million.
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Segment Highlights
Revenues from Mosaic's Phosphates segment rose roughly 8% year over year to $1.4 billion in the quarter as higher volumes more than offset lower finished product prices. The segment's gross margin rose around 9% to $296 million, aided by a decline in phosphate rock costs.
