(Dow Jones) -- A slowdown in fertilizer shipments to Asia weighed on Mosaic Co.'s fiscal second-quarter earnings, although overall profit edged higher on a significant tax benefit.
The Minnesota-based fertilizer company, one of the world's largest potash and phosphate fertilizer producers, reported second-quarter operating earnings fell 30%. The decline was due mainly to lower phosphate volumes and prices, the company said.
Despite that pressure, net profit climbed 0.8% thanks to an income-tax benefit of 42 cents a share, and the results beat analyst expectations. Shares were recently up 2.6% to $58.30.
Even amid strong U.S. demand, the market for potash ...