(Dow Jones) -- Mosaic Co.'s fiscal first-quarter earnings fell 18% as the fertilizer producer's sales declined because of production problems and weak demand in China and India.
Shares were down 4% at $55.69 Tuesday morning as the results missed analyst forecasts.
Mosaic said revenue fell 19%, weakened by lower sales volumes and prices for phosphate, its biggest source of revenue.
The Plymouth, Minn., company struggled to meet phosphate demand due to longer-than-normal annual plant repairs, as well as disruptions from Hurricane Isaac at its Louisiana facilities at the end of August. Sales at Mosaic were further hurt by low Mississippi ...