The Mosaic Company (MOS) reported a net income of $365.3 million or $1.11 per share in fourth-quarter 2023, down from a profit of $523.2 million or $1.52 per share in the year-ago quarter.Barring one-time items, adjusted earnings per share were 71 cents, missing the Zacks Consensus Estimate of 82 cents.Net sales declined nearly 29.7% year over year to $3,149.5 million in the quarter. The metric, however, surpassed the Zacks Consensus Estimate of $3,009.8 million. Lower selling prices primarily caused the do ...

Mosaic (MOS) reported $3.15 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 29.7%. EPS of $0.71 for the same period compares to $1.74 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $3.01 billion, representing a surprise of +4.64%. The company delivered an EPS surprise of -13.41%, with the consensus EPS estimate being $0.82.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...

Mosaic (MOS) came out with quarterly earnings of $0.71 per share, missing the Zacks Consensus Estimate of $0.82 per share. This compares to earnings of $1.74 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -13.41%. A quarter ago, it was expected that this fertilizer maker would post earnings of $0.80 per share when it actually produced earnings of $0.68, delivering a surprise of -15%.Over the last four quarters, the company ha ...

Production Capacity and Operations - The Phosphates segment produced approximately 6.2 million tonnes of concentrated phosphate crop nutrients in 2023, accounting for about 80% of estimated North American annual production[28]. - The U.S. phosphate operations have a production capacity of approximately 4.5 million tonnes of phosphoric acid per year, representing about 7% of global capacity and 60% of North American capacity[26]. - The Florida phosphate rock mines produced approximately 10.0 million tonnes in 2023, which is about 47% of estimated North American annual production[29]. - The company has a 75% economic interest in the Miski Mayo Phosphate Mine in Peru, which has an annual production capacity of 4.8 million tonnes[31]. - The company produced approximately 3.0 million tonnes of phosphoric acid in 2023, with operational capacity being affected by various factors including demand and maintenance[28]. - The company has a 25% interest in the Ma'aden Wa'ad Al Shamal Phosphate Company, which produced 3.1 million tonnes of phosphate in 2023[33]. - The potash segment has an annual operational capacity of 11.5 million tonnes, accounting for approximately 14% of world annual capacity and 35% of estimated North American annual production[49]. - In 2023, production totaled 8.3 million tonnes, representing about 13% of estimated world annual production[49]. - The Esterhazy mine, the largest potash mine globally, is expected to complete full ramp-up of capacity and production during 2024 or early 2025[45]. - Mosaic Fertilizantes produced approximately 2.6 million tonnes of concentrated phosphate crop nutrients in 2023, which accounted for approximately 48% of estimated Brazilian annual production[62]. - The Brazilian phosphoric acid production totaled approximately 1.0 million tonnes in 2023, accounting for approximately 84% of Brazilian annual output[58]. Raw Material Consumption - The company consumed approximately 1.0 million tonnes of ammonia during 2023, with one tonne of DAP requiring approximately 0.23 tonnes of ammonia[36]. - The company purchased approximately 3.3 million long tons of sulfur in 2023, which is a key raw material for producing sulfuric acid[34]. - Natural gas usage for potash production totaled 16.6 million MM BTU during 2023[53]. Land and Resource Management - The company plans to explore and develop the DeSoto and South Pasture properties to offset future depletion at its Florida properties[31]. - The company owns over 368,000 acres of land in Florida, which provides access to phosphate rock reserves and supports its long-term land use strategy[43]. - The company owns approximately 1% of the Tiplam terminal in Santos, São Paulo, ensuring unloading priority for ammonia and capacity for rock, sulfur, and crop nutrients[69]. Sales and Market Presence - Mosaic Fertilizantes sold approximately 9.7 million tonnes of crop nutrient products in 2023, accounting for about 20% of fertilizer shipments in Brazil[57]. - The company distributed approximately 1,073,000 tonnes of phosphate and potash crop nutrients in China and 536,000 tonnes in India in 2023[75]. - The company has an entitlement percentage of 36.2% in Canpotex for potash exports, which is a significant part of its international sales strategy[82]. Financial and Community Investments - The company paid approximately $15.5 million in royalties and resource taxes in 2023 for phosphate and potash production in Brazil[65]. - In 2023, the company paid royalties of approximately $9.8 million related to the leasing of potash assets and mining rights for Taquari[72]. - The company invested $16.7 million in community initiatives in 2023, focusing on food, water, and local community[109]. - In 2023, 29% of the company's global giving targeted underserved or underrepresented populations[109]. Workforce and Labor Relations - The company employs 14,049 individuals as of December 31, 2023, including 10,352 salaried and 3,697 hourly employees[101]. - As of December 31, 2023, the company had 14,049 employees, with 11,644 males and 2,405 females[105]. - The company has eight collective bargaining agreements in the U.S. and Canada, with approximately 33% expiring in 2024[102]. - The company has not experienced significant work stoppages in many years, indicating strong labor relations[103]. - The company maintains specific talent programs for critical roles to minimize turnover and ensure operational continuity[109]. Safety, Diversity, and Inclusion - The company aims for zero harm to people and zero environmental incidents through its safety management system[106]. - The company is committed to diversity and inclusion, with ongoing initiatives to enhance workforce representation and accountability[109]. - The company has established internal analytical capabilities to evaluate pay equity and plans to address identified disparities in the 2024 compensation cycle[109]. - The company offers educational reimbursement programs to support employee skill development and career opportunities[109]. Competitive Landscape - The company operates in a highly competitive market, with significant competition from domestic and international producers, impacting pricing and market share[88]. - The company has a vertically integrated business model, providing a competitive advantage through economies of scale and strategic distribution networks[96]. - The company’s potash cost structure is competitive and expected to improve with ongoing expansion projects[95]. Innovation and Development - The company announced the formation of the Mosaic Biosciences platform in 2023, focusing on biological fertilizer innovations to enhance nutrient use efficiency[87].

[Consolidated Financial Information](index=1&type=section&id=Consolidated%20Financial%20Information) [Consolidated Income Statement Highlights](index=1&type=section&id=Consolidated%20Income%20Statement%20Highlights) The company experienced a significant decline in diluted net earnings per share and total net sales from Q1 2022 to Q4 2023, with a notable loss in Q3 2023. Gross margin rates also decreased over this period **Diluted Net Earnings (Loss) Per Share:** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount ($) | 3.19 | 2.85 | 2.42 | 1.52 | 1.28 | 1.11 | (0.01) | 1.11 | **Total Net Sales:** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount ($ millions) | 3,922 | 5,373 | 5,348 | 4,481 | 3,604 | 3,395 | 3,548 | 3,149 | **Gross Margin Rate:** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Rate (%) | 37 | 34 | 28 | 22 | 19 | 17 | 12 | 18 | [Consolidated Cash Flow and Balance Sheet Highlights](index=1&type=section&id=Consolidated%20Cash%20Flow%20and%20Balance%20Sheet%20Highlights) Operating cash flow showed variability, with a significant increase in Q2 2023, while investing activities consistently used cash. Net debt fluctuated, ending Q4 2023 higher than Q4 2022 **Net cash provided by (used in) operating activities:** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount ($ millions) | 506 | 1,585 | 889 | 956 | 149 | 1,073 | 647 | 538 | **Net debt:** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount ($ millions) | 3,576 | 3,138 | 3,457 | 2,887 | 3,779 | 2,996 | 3,066 | 3,413 | [Consolidated Operating Data](index=2&type=section&id=Consolidated%20Operating%20Data) Total finished product tonnes sold showed fluctuations, with a peak in Q3 2023, while sales of performance products also varied, reaching a high in Q3 2023 **Total finished product tonnes sold ('000 tonnes):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Volume | 5,645 | 6,832 | 6,838 | 6,372 | 6,246 | 6,829 | 7,413 | 6,935 | **Sales of Performance Products (third party) ('000 tonnes):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Volume | 711 | 741 | 790 | 1,265 | 819 | 977 | 1,305 | 1,044 | [Segment Contributions](index=3&type=section&id=Segment%20Contributions) [Phosphates Segment](index=3&type=section&id=Phosphates%20Segment) The Phosphates segment experienced a decline in net sales and gross margin from Q1 2022 to Q4 2023, with operating earnings turning negative in Q3 2023 before a slight recovery. Capital expenditures remained substantial [Financial Performance](index=3&type=section&id=Phosphates%20Segment%20Financial%20Performance) **Net Sales:** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount ($ millions) | 1,496 | 1,801 | 1,577 | 1,310 | 1,382 | 1,286 | 986 | 1,070 | **Operating Earnings:** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount ($ millions) | 493 | 578 | 131 | 145 | 266 | 146 | (58) | 21 | **Gross margin as a percent of sales:** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Rate (%) | 35 | 36 | 23 | 18 | 19 | 17 | 9 | 13 | [Operating Data](index=3&type=section&id=Phosphates%20Segment%20Operating%20Data) **Total Finished Product Sales volumes ('000 tonnes):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Volume | 1,661 | 1,675 | 1,651 | 1,571 | 1,836 | 1,922 | 1,651 | 1,582 | **DAP selling price (fob plant) ($):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Price | 785 | 920 | 809 | 722 | 660 | 585 | 487 | 552 | **Realized costs - Ammonia (tonne) ($):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Cost | 532 | 591 | 665 | 653 | 605 | 441 | 353 | 366 | [Equity Investments](index=4&type=section&id=Phosphates%20Segment%20Equity%20Investments) **MWSPC equity earnings (loss) ($ millions):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount | 31 | 34 | 72 | 58 | 31 | 10 | 17 | — | **Miski Mayo external sales revenue ($ millions):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount | 26 | 21 | 33 | 38 | 41 | 47 | 33 | 18 | [Potash Segment](index=5&type=section&id=Potash%20Segment) The Potash segment experienced a decline in net sales and gross margin from Q1 2022 to Q4 2023, with operating earnings also decreasing significantly. Adjusted EBITDA followed a similar downward trend [Financial Performance](index=5&type=section&id=Potash%20Segment%20Financial%20Performance) **Net Sales:** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount ($ millions) | 1,060 | 1,580 | 1,432 | 1,136 | 907 | 849 | 720 | 758 | **Operating Earnings:** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount ($ millions) | 563 | 915 | 793 | 497 | 402 | 328 | 200 | 222 | **Adjusted EBITDA:** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount ($ millions) | 651 | 998 | 871 | 597 | 474 | 408 | 267 | 322 | [Operating Data](index=5&type=section&id=Potash%20Segment%20Operating%20Data) **Total Finished Product Sales volumes ('000 tonnes):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Volume | 1,792 | 2,304 | 2,142 | 1,863 | 1,910 | 2,163 | 2,220 | 2,577 | **MOP selling price (fob mine) ($):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Price | 582 | 678 | 666 | 581 | 421 | 326 | 266 | 243 | **Operating Rate (%):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Rate | 80 | 87 | 81 | 77 | 69 | 69 | 66 | 90 | [Supplemental Cost Information](index=5&type=section&id=Potash%20Segment%20Supplemental%20Cost%20Information) **Canadian resource taxes ($ millions):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount | 157 | 274 | 258 | 238 | 121 | 95 | 86 | 102 | **MOP cash costs of production excluding brine / production tonne ($):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Cost | 81 | 78 | 78 | 76 | 81 | 74 | 73 | 66 | [Mosaic Fertilizantes Segment](index=7&type=section&id=Mosaic%20Fertilizantes%20Segment) The Mosaic Fertilizantes segment experienced fluctuating net sales and gross margins, with operating earnings turning negative in Q1 and Q2 2023 before recovering. Adjusted EBITDA also showed significant variability [Financial Performance](index=7&type=section&id=Mosaic%20Fertilizantes%20Segment%20Financial%20Performance) **Net Sales:** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount ($ millions) | 1,488 | 2,260 | 2,629 | 1,910 | 1,343 | 1,419 | 1,731 | 1,192 | **Operating Earnings:** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount ($ millions) | 187 | 420 | 323 | (20) | (32) | (20) | 77 | 50 | **Adjusted EBITDA:** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount ($ millions) | 233 | 444 | 343 | 29 | 3 | 66 | 147 | 111 | [Operating Data](index=7&type=section&id=Mosaic%20Fertilizantes%20Segment%20Operating%20Data) **Total Finished Product Sales volumes ('000 tonnes):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Volume | 1,822 | 2,320 | 2,824 | 2,472 | 2,080 | 2,385 | 3,060 | 2,158 | **Brazil MAP price ($):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Price | 882 | 1,021 | 866 | 663 | 669 | 653 | 533 | 580 | **Phosphate operating rate (%):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Rate | 92 | 83 | 76 | 87 | 78 | 74 | 81 | 77 | [Realized Costs and Purchases](index=7&type=section&id=Mosaic%20Fertilizantes%20Segment%20Realized%20Costs%20and%20Purchases) **Realized Costs - Ammonia/tonne ($):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Cost | 1,145 | 1,396 | 1,267 | 1,354 | 1,150 | 912 | 667 | 655 | **Purchases - Potash from Mosaic/Canpotex ('000 tonnes):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Volume | 398 | 663 | 798 | 417 | 235 | 756 | 672 | 404 | **Average BRL / USD:** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Rate | 5.235 | 4.917 | 5.244 | 5.255 | 5.196 | 4.954 | 4.880 | 4.953 | [Corporate and Other Segment](index=9&type=section&id=Corporate%20and%20Other%20Segment) The Corporate and Other segment reported fluctuating net sales and gross margins, often showing losses. Operating earnings were consistently negative, and Adjusted EBITDA also remained negative for most periods [Financial Performance](index=9&type=section&id=Corporate%20and%20Other%20Segment%20Financial%20Performance) **Net Sales:** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount ($ millions) | (122) | (268) | (290) | 125 | (28) | (159) | 111 | 129 | **Operating Earnings (Loss):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount ($ millions) | 13 | (239) | (93) | 78 | (91) | (85) | (74) | (14) | **Adjusted EBITDA:** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount ($ millions) | (65) | (172) | (9) | 77 | (82) | (115) | (21) | (46) | [Operating Data](index=9&type=section&id=Corporate%20and%20Other%20Segment%20Operating%20Data) **Sales volumes ('000 tonnes):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Volume | 370 | 533 | 221 | 466 | 420 | 359 | 482 | 618 | **Purchases - Potash from Mosaic/Canpotex ('000 tonnes):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Volume | 220 | 471 | 332 | 337 | 296 | 126 | — | 345 | [Notable Items](index=10&type=section&id=Notable%20Items) [Q4 2023 Notable Items](index=10&type=section&id=Q4%202023%20Notable%20Items) Notable items in Q4 2023 resulted in a net positive EPS impact of $0.40, primarily driven by a tax law change benefit and foreign currency transaction gains, partially offset by environmental reserve and land reclamation costs - **Total Notable Items Impact on EPS: $0.40**[17](index=17&type=chunk) - **Key positive impacts: Foreign currency transaction gain ($0.20 EPS), Unrealized gain on derivatives ($0.10 EPS), Tax law change ($0.42 EPS)**[17](index=17&type=chunk) - **Key negative impacts: Environmental reserve ($(0.16) EPS), Land reclamation ($(0.07) EPS)**[17](index=17&type=chunk) [Q3 2023 Notable Items](index=10&type=section&id=Q3%202023%20Notable%20Items) Notable items in Q3 2023 resulted in a net negative EPS impact of $(0.69), primarily due to ARO Adjustment, foreign currency transaction loss, and pension plan termination settlement - **Total Notable Items Impact on EPS: $(0.69)**[17](index=17&type=chunk) - **Key negative impacts: ARO Adjustment ($(0.28) EPS), Foreign currency transaction gain (loss) ($(0.23) EPS), Pension plan termination settlement ($(0.10) EPS)**[17](index=17&type=chunk) [Q2 2023 Notable Items](index=12&type=section&id=Q2%202023%20Notable%20Items) Notable items in Q2 2023 resulted in a net positive EPS impact of $0.07, driven by unrealized foreign currency transaction gains, partially offset by ARO adjustment and environmental reserve costs - **Total Notable Items Impact on EPS: $0.07**[20](index=20&type=chunk) - **Key positive impacts: Unrealized foreign currency transaction gain ($0.26 EPS), Unrealized gain on derivatives ($0.08 EPS)**[20](index=20&type=chunk) - **Key negative impacts: ARO Adjustment ($(0.06) EPS), Environmental reserve ($(0.08) EPS), Land reclamation ($(0.07) EPS)**[20](index=20&type=chunk) [Q1 2023 Notable Items](index=12&type=section&id=Q1%202023%20Notable%20Items) Notable items in Q1 2023 resulted in a net positive EPS impact of $0.14, primarily due to a gain on the sale of Streamsong Resort and foreign currency transaction gains, partially offset by ARO adjustment and facility costs - **Total Notable Items Impact on EPS: $0.14**[20](index=20&type=chunk) - **Key positive impacts: Gain on sale of Streamsong Resort ($0.13 EPS), Foreign currency transaction gain ($0.11 EPS)**[20](index=20&type=chunk) - **Key negative impacts: ARO Adjustment ($(0.04) EPS), Closed and indefinitely idled facility costs ($(0.03) EPS)**[20](index=20&type=chunk) [Q4 2022 Notable Items](index=13&type=section&id=Q4%202022%20Notable%20Items) Notable items in Q4 2022 resulted in a net negative EPS impact of $(0.22), primarily due to environmental reserve, hurricane Ian idle costs, and pension plan termination settlement, partially offset by foreign currency transaction gains - **Total Notable Items Impact on EPS: $(0.22)**[21](index=21&type=chunk) - **Key negative impacts: Environmental reserve ($(0.09) EPS), Hurricane Ian idle costs ($(0.07) EPS), Pension plan termination settlement ($(0.09) EPS)**[21](index=21&type=chunk) - **Key positive impacts: Foreign currency transaction gain ($0.16 EPS)**[21](index=21&type=chunk) [Q3 2022 Notable Items](index=13&type=section&id=Q3%202022%20Notable%20Items) Notable items in Q3 2022 resulted in a net negative EPS impact of $(0.80), largely driven by ARO adjustment, environmental reserve, and unrealized gain/loss on derivatives - **Total Notable Items Impact on EPS: $(0.80)**[21](index=21&type=chunk) - **Key negative impacts: ARO Adjustment ($(0.31) EPS), Environmental reserve ($(0.15) EPS), Unrealized gain (loss) on derivatives ($(0.16) EPS), Foreign currency transaction gain (loss) ($(0.13) EPS)**[21](index=21&type=chunk) [Q2 2022 Notable Items](index=15&type=section&id=Q2%202022%20Notable%20Items) Notable items in Q2 2022 resulted in a net negative EPS impact of $(0.79), primarily due to foreign currency transaction loss, unrealized gain/loss on derivatives, and environmental reserve - **Total Notable Items Impact on EPS: $(0.79)**[24](index=24&type=chunk) - **Key negative impacts: Foreign currency transaction gain (loss) ($(0.47) EPS), Unrealized gain (loss) on derivatives ($(0.12) EPS), Environmental reserve ($(0.06) EPS)**[24](index=24&type=chunk) [Q1 2022 Notable Items](index=15&type=section&id=Q1%202022%20Notable%20Items) Notable items in Q1 2022 resulted in a net positive EPS impact of $0.78, primarily driven by foreign currency transaction gains and unrealized gain on derivatives - **Total Notable Items Impact on EPS: $0.78**[23](index=23&type=chunk) - **Key positive impacts: Foreign currency transaction gain ($0.62 EPS), Unrealized gain (loss) on derivatives ($0.21 EPS)**[23](index=23&type=chunk) [Footnotes](index=16&type=section&id=Footnotes) [Overview](index=16&type=section&id=Footnotes%20Overview) This section provides definitions and explanations for various terms and calculations used throughout the financial tables, including how notable items impact EPS, definitions of non-GAAP measures, and specifics on sales volumes, pricing, and cost components - Notable items impact on EPS is calculated as notable item amount plus income tax effect, based on expected annual effective tax rate, divided by diluted weighted average shares[25](index=25&type=chunk) - Finished product sales volumes include intersegment sales[25](index=25&type=chunk) - MOP cash costs of production are reflective of actual costs during the period excluding brine management costs, depreciation, depletion, accretion, carbon-based and Canadian resource tax, idle and turnaround costs[25](index=25&type=chunk) [Non-GAAP Financial Measures](index=17&type=section&id=Non-GAAP%20Financial%20Measures) [Overview and Definitions](index=17&type=section&id=Non-GAAP%20Financial%20Measures%20Overview%20and%20Definitions) The company presents non-GAAP financial measures to supplement GAAP, emphasizing that these measures should not be considered substitutes for GAAP results and may not be comparable to other companies' similarly titled measures - Non-GAAP financial measures are supplemental numerical measures that either exclude or include amounts not normally excluded or included in GAAP[27](index=27&type=chunk) - These measures should not be considered substitutes for, or superior to, GAAP measures and may not be comparable to other companies' measures[28](index=28&type=chunk) [Adjusted Diluted Net Earnings Per Share](index=17&type=section&id=Adjusted%20Diluted%20Net%20Earnings%20Per%20Share) Adjusted diluted net earnings per share is defined as diluted net earnings per share, excluding the impact of notable items. Management uses this measure to assess performance by excluding items not indicative of core operating results - Definition: Diluted net earnings per share, excluding the impact of notable items[29](index=29&type=chunk) - Purpose: Provides useful supplemental information by excluding items not indicative of core operating results, used for analyzing performance, financial/operating decision-making, forecasting, and comparing with competitors[29](index=29&type=chunk) [Consolidated Adjusted EBITDA](index=17&type=section&id=Consolidated%20Adjusted%20EBITDA) Consolidated Adjusted EBITDA is defined as consolidated Net Income (Loss) before various non-operating and non-cash expenses, further adjusted for notable items. It is provided to assist in comparisons of operational performance across companies - Definition: Consolidated Net Income (Loss) before net interest expense, depreciation, depletion and amortization, asset retirement obligation accretion, share-based compensation expense, provision for/(benefit) from income taxes, and adjusted for notable items[30](index=30&type=chunk) - Purpose: Assists securities analysts, investors, lenders, and others in comparing operational performance, valuation, and debt capacity across companies[30](index=30&type=chunk) **Consolidated Adjusted EBITDA ($ millions):** | Quarter | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | :------ | | Amount | 1,451 | 2,028 | 1,686 | 1,051 | 777 | 744 | 594 | 646 | [Segment Adjusted EBITDA](index=17&type=section&id=Segment%20Adjusted%20EBITDA) Segment Adjusted EBITDA is defined as segment operating earnings (loss) plus specific adjustments, including depreciation, accretion, foreign exchange, other income/expense, equity earnings, and notable items. It is used for evaluating segment operational performance and valuation - Definition: Segment's operating earnings (loss) plus depreciation, depletion and amortization, asset retirement obligation accretion, foreign exchange gain (loss), other income (expense), equity earnings (loss) less equity earnings (loss) from noncontrolling interests, and adjusted for notable items[32](index=32&type=chunk) - Purpose: Used for internal management reporting and planning, evaluating operational performance and valuation of segments, and comparing segment performance with competitors[33](index=33&type=chunk) [Adjusted Gross Margin](index=18&type=section&id=Adjusted%20Gross%20Margin) Adjusted gross margin is defined as gross margin excluding the impact of notable items. Management uses this adjusted measure to gain supplemental information about core operating results for decision-making and forecasting - Definition: Gross margin excluding the impact of notable items[34](index=34&type=chunk) - Purpose: Provides useful supplemental information by excluding items not indicative of core operating results, used for analyzing performance, financial/operating decision-making, and forecasting[34](index=34&type=chunk)

The Mosaic Company (MOS) is set to release fourth-quarter 2023 results on Feb 21, after the closing bell.The fertilizer maker delivered a negative earnings surprise of around 11.3%, on average, over the trailing four quarters. It delivered a negative earnings surprise of 15% in the last reported quarter. The company’s fourth-quarter results are likely to reflect favorable demand for phosphate and potash. However, weaker fertilizer prices are expected to have affected its performance. Shares of Mosaic have l ...

In its upcoming report, Mosaic (MOS) is predicted by Wall Street analysts to post quarterly earnings of $0.82 per share, reflecting a decline of 52.9% compared to the same period last year. Revenues are forecasted to be $3.01 billion, representing a year-over-year decrease of 32.8%.The consensus EPS estimate for the quarter has been revised 1% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this ...

Mosaic (MOS) closed at $29.55 in the latest trading session, marking a +0.14% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.96%. Meanwhile, the Dow experienced a rise of 0.4%, and the technology-dominated Nasdaq saw an increase of 1.3%.Coming into today, shares of the fertilizer maker had lost 8.84% in the past month. In that same time, the Basic Materials sector lost 4.97%, while the S&P 500 gained 3.69%.The upcoming earnings release of Mosaic will be of great in ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Mosaic (MOS) reports results for the quarter ended December 2023. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on February 21. On th ...

The most recent trading session ended with Mosaic (MOS) standing at $30.35, reflecting a +1.4% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily gain of 0.23%. At the same time, the Dow added 0.37%, and the tech-heavy Nasdaq gained 0.07%.The fertilizer maker's shares have seen a decrease of 15.43% over the last month, not keeping up with the Basic Materials sector's loss of 6.52% and the S&P 500's gain of 5.3%.Analysts and investors alike will be ke ...