Mosaic takes $44M loss in 3rd quarter

Nov 06, 2019 at 04:05 PM CST
A weak third quarter for the phosphate fertilizer business led a to $44 million quarterly loss for the Mosaic Co. LAKELAND — Weak results in the Mosaic Co.’s phosphate segment based in Central Florida led to a $44 million loss in the third quarter. Phosphate fertilizer sales in the Midwestern grain belt fell because heavy spring and early summer rains delayed corn planting and exports for soybeans and other commodities fell victim to international trade conflicts. Adding to the flow of red ink were accounting losses totaling $81 million for the third quarter ending Sept. 30, primarily a $54 million loss from currency transactions, according to company financial statements released late Monday.

Nov 06, 2019 at 04:05 PM CST

A weak third quarter for the phosphate fertilizer business led a to $44 million quarterly loss for the Mosaic Co. LAKELAND — Weak results in the Mosaic Co.’s phosphate segment based in Central Florida led to a $44 million loss in the third quarter. Phosphate fertilizer sales in the Midwestern grain belt fell because heavy spring and early summer rains delayed corn planting and exports for soybeans and other commodities fell victim to international trade conflicts. Adding to the flow of red ink were accounting losses totaling $81 million for the third quarter ending Sept. 30, primarily a $54 million loss from currency transactions, according to company financial statements released late Monday.