Mosaic swings to $162 million Q2 net loss as revenue falls 17%
Mosaic reported a net loss of $162 million, or $(0.50) per diluted share, for the quarter ended June 30, 2024, compared with net income of $369 million a year earlier. Second-quarter revenue fell 17 percent to $2.8 billion, mainly on lower selling prices, and results included notable items, mainly foreign currency transaction losses. Adjusted EPS was $0.54 versus $1.04 a year ago, so shareholders face weaker earnings this quarter, though the company cited progress on cost reductions.
Key points
- Net loss of $162 million, or $(0.50) per diluted share, versus net income of $369 million, or $1.11 per share, a year earlier
- Net sales of $2.8 billion, down 17 percent; gross margin rate of 14 percent versus 17 percent
- Adjusted EPS of $0.54 versus $1.04; Adjusted EBITDA of $584 million versus $744 million
- Third-quarter guidance: potash sales volumes of 2.1-2.3 million tonnes and phosphate sales volumes of 1.7-1.9 million tonnes; 2024 capital expenditures of $1.1-1.2 billion
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:57 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 06, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.