Mosaic Profit Off 18%
Tue Oct 2, 2012 12:08 PM CDT

(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 ...

Quick View
Related News Stories
(none currently available)