The Mosaic Company (MOS) disclosed its combined sales volumes and revenues by business unit for April and May 2024. During this period, potash sales volume reached 1,314,000 tons, down from 1,617,000 tons reported in the year-ago period. Revenues dropped to $371 million from $672 million posted a year ago.For the second quarter, potash sales volumes are expected to be between 2.2 and 2.4 million tons, with MOP prices at the mine projected to range from $210 to $250 per ton.In April and May 2024, phosphate s ...

The Mosaic Company (MOS) is benefiting from healthy demand for phosphate and potash and actions to improve its cost structure. However, softer fertilizer prices may weigh on its top line and margins.The company’s shares are down 23.5% in a year compared with a 20.7% decline recorded by its industry. Image Source: Zacks Investment ResearchLet’s find out why this Zacks Rank #3 (Hold) stock is worth retaining at the moment.Healthy Demand, Cost Cuts Aid MOSMosaic is well-placed to gain from strong demand for ph ...

文章核心观点 - 马赛克公司(Mosaic)是一家专注于生产和销售磷酸盐和钾肥作物营养品的公司,总部位于佛罗里达州[5] - 农业相关行业的市场规模预计将以每年3%的速度增长,主要受益于全球人口增长、人均粮食消费增加、可耕地减少、经济增长、政府优惠政策以及气候变化等因素[6] - 尽管行业前景良好,但市场对马赛克公司的预期普遍较为悲观,导致其估值处于历史较低水平[7][8] 根据相关目录分别进行总结 估值分析 - 马赛克公司的市销率、现金流倍数和有形净资产倍数目前处于近16年来的低位,约为历史平均水平的50%折扣[8] - 与同行业公司相比,马赛克公司的市盈率也处于较低水平,约为同行业中值的70%[9][11] - 企业价值/EBITDA倍数也处于历史低位,目前为6.8倍,较历史平均10倍有40%的折扣[11][12] - 企业价值/营收比率目前为1.05-1.10倍,较历史平均水平有55%的折扣,处于2008-2009年金融危机以来的最低水平[13][14] 业绩展望 - 分析师对马赛克公司2024-2026年的业绩增长预期较为平淡[3] - 但如果农产品价格上涨,农民收入增加,对肥料需求将增加,有利于马赛克公司的业绩[24] - 不过如果出现全球经济衰退,农产品价格下跌,或者磷酸盐和钾肥供给过剩,都可能对马赛克公司的业绩和股价产生不利影响[21][22][23] 技术面分析 - 马赛克公司的技术指标显示,股价波动率已经降至2022年底以来的最低水平,供需状况趋于平衡,为反转蓄势[20] - 但仍可能出现20%-30%的短期下跌,需谨慎对待[21]

财务数据和关键指标变化 - 公司在第一季度实现了5.76亿美元的经调整EBITDA,收入为27亿美元 [9] - 磷肥业务实现2.77亿美元的经调整EBITDA,销量为160万吨 [9] - 钾肥业务实现2.81亿美元的经调整EBITDA,销量为220万吨 [10] - 巴西肥料业务实现0.83亿美元的经调整EBITDA,销量为170万吨 [11] 各条业务线数据和关键指标变化 - 磷肥业务受益于北美需求强劲和供给有限,实现了较高的剥离利润率 [9] - 钾肥业务受益于北美春季旺季需求,表现良好 [10] - 巴西肥料业务通过优先销售给信用风险较低的客户、要求预付款和坚持合同履约等方式,实现了较好的业绩 [11][12] 各个市场数据和关键指标变化 - 北美市场春季播种季节即将结束,但其他主要农业地区的需求正在增强,有利于下半年价格 [8] - 巴西市场需求正在增强,SSP价格在4月上涨了30美元/吨 [24] - 印度市场需求预计将保持良好,政府有望提高零售价格上限以吸引供应 [25] 公司战略和发展方向及行业竞争 - 公司正在采取多项举措提高收益,包括成本削减计划、产能优化、市场拓展等 [15][16][17][18][19][20] - 与沙特阿拉伯矿业公司(Ma'aden)的交易将提高投资透明度和资本灵活性 [13][14] - 磷酸盐和钾肥行业供需格局整体较为紧张,公司有望受益 [26][27][40][41] 管理层对经营环境和未来前景的评论 - 农产品价格有所下降,但农民整体盈利能力仍较好,有望进一步提升 [22] - 天气模式从强厄尔尼诺转向拉尼娜,有利于东南亚、印度和巴西等地区 [23] - 公司对2024年全年前景保持乐观,将采取近期行动和执行长期举措以提高业绩 [30][31] 问答环节重要的提问和回答 问题1 **Steve Byrne提问** 询问巴西肥料业务未来几年的EBITDA目标 [47] **Bruce Bodine回答** 公司有9百万吨的分销能力,每吨边际利润30-40美元;未来还将通过成本削减、新项目等进一步提升利润 [48][49][50][51] 问题2 **Vincent Andrews提问** 询问是否可以对Ma'aden股权进行套期保值 [55] **Clint Freeland回答** 公司正在考虑如何最佳管理这一股权投资,包括套期保值等,但目前还没有明确的计划 [56][57] 问题3 **Joel Jackson提问** 询问是否还有其他可能的交易结构,以及这次交易对行业整合的影响 [67][68][69][70] **Bruce Bodine和Clint Freeland回答** 这次交易主要是为了提高投资透明度和资本灵活性,不会对行业整合产生太大影响 [68][69]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________ FORM 10-Q _______________________________________________________________________ ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Comm ...

The Mosaic Company (MOS) reported a net income of $45.2 million or 14 cents per share in first-quarter 2024, down from a profit of $434.8 million or $1.28 per share in the year-ago quarter.Barring one-time items, adjusted earnings per share were 65 cents, beating the Zacks Consensus Estimate of 60 cents.Net sales declined nearly 26% year over year to $2,679.4 million in the quarter. The metric lagged the Zacks Consensus Estimate of $2,825.7 million. Segment HighlightsNet sales in the Potash segment were $64 ...

For the quarter ended March 2024, Mosaic (MOS) reported revenue of $2.68 billion, down 25.7% over the same period last year. EPS came in at $0.65, compared to $1.14 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $2.83 billion, representing a surprise of -5.18%. The company delivered an EPS surprise of +8.33%, with the consensus EPS estimate being $0.60.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expect ...

Mosaic (MOS) came out with quarterly earnings of $0.65 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $1.14 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.33%. A quarter ago, it was expected that this fertilizer maker would post earnings of $0.82 per share when it actually produced earnings of $0.71, delivering a surprise of -13.41%.Over the last four quarters, the company h ...

Exhibit 99.2 The Mosaic Company Selected Calendar Quarter Financial Information (Unaudited) Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Consolidated data (in millions, except per share) Diluted net earnings (loss) per share $ 2.85 $ 2.42 $ 1.52 $ 1.28 $ 1.11 $ (0.01) $ 1.11 $ 0.14 Notable items impact on earnings per share(a) (0.79) (0.80) (0.22) 0.14 0.07 (0.69) 0.40 (0.51) Adjusted diluted net earnings per share(a) $ 3.64 $ 3.22 $ 1.74 $ 1.14 $ 1.04 $ 0.68 $ 0.71 $ 0.65 Diluted weighte ...

The Mosaic Company (MOS) is set to release first-quarter 2024 results on May 1, after the closing bell.The fertilizer maker delivered a negative earnings surprise of around 10.5%, on average, over the trailing four quarters. It delivered a negative earnings surprise of 13.4% in the last reported quarter. The company’s first-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 los ...