MOSAIC CO [MOS] reports quarterly net loss of $45.2 million
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Company Reports Revenue of $2.7 billion
MOSAIC CO [MOS] has reported a net loss Net earnings attributable to Mosaic of $45.2 million for quarter ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue Gross margin for the quarter was $2.7 billion
Based in TAMPA, Florida, MOSAIC CO operates in the MANUFACTURING sector.
In the provided Income Statement data for the year ended on March 31, 2024, the following comparisons can be made with the previous year's performance:
- Net Sales: The net sales for the current period amount to $2,679.4 million, showing a decrease from the same period last year at $3,604.3 million.
- Cost of Goods Sold: The cost of goods sold for the current period is $2,280.2 million, lower than the previous year's cost of $2,933.9 million.
- Gross Margin: The gross margin for the current period stands at $399.2 million, indicating a decline compared to the previous year's figure of $670.4 million.
- Operating Earnings: Operating earnings for the current period are reported at $172.9 million, significantly lower than the previous year's figure of $544.6 million.
- Net Income: The net income for the current period is shown as a net loss of $56.5 million, contrasting with the net income of $459.0 million reported in the same period last year.
- Earnings per Share: The basic and diluted earnings per share attributable to Mosaic for the current period are $0.14, reflecting a decrease from the previous year's earnings per share of $1.30. Similarly, the diluted earnings per share for the current period were $0.14 compared to $1.28 in the previous year.
These comparisons show a considerable decline in various financial metrics for the current reporting period compared to the same period in the previous year, indicating a challenging year for the company.
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