The Mosaic Company Reports Significant Net Loss in Q2 2024
Mosaic's Q2 2024: Revenue Decreases by 17% Compared to Previous Period
The Mosaic Company [MOS] reported a significant net loss of $162 million in the second quarter of 2024, ending on June 30. This represents a decrease from the net income of $369 million reported in the previous quarter.
The company, headquartered in Tampa, Florida, reported to SEC in an 8-K filing $-0.50 earnings per share in the quarter, compared to $1.11 in the previous quarter.
The Mosaic Company, a prominent player in the Agriculture/Chemicals sector, reported revenue of $2.8 billion. This reflects a 17% decrease compared to the revenue of $3.4 billion in the preceding quarter.
In comparison to the same quarter in the previous year, The Mosaic Company's revenue in the current quarter witnessed a significant decline from $6.99 billion to $2.8 billion. Additionally, the company experienced a notable decrease in net income, with a loss of $162 million in the current quarter compared to a profit of $369 million in the same period of the previous year.
