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Mosaic (MOS) January and February Phosphates & Potash Volume Up
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The Mosaic Company (MOS - Free Report) recently disclosed its combined sales volumes and revenues by business unit for January and February 2024. During this period, potash sales volume reached 1,417,000 tons, up from 1,100,000 tons reported in the previous year. However, revenues in the same period dropped to $418 million from $542 million in the previous year.
Looking ahead to the first quarter, the company anticipates potash sales volumes and MOP prices to remain consistent with earlier guidance, ranging between 2-2.2 million tons and $225-$250 per ton, respectively.
In January and February 2024, phosphate sales volume reached 1,087,000 tons, slightly up from 1,066,000 tons recorded during the same period in 2023. However, revenues for this period decreased to $760 million from $827 million in the previous year.
For phosphates, sales volumes for the first quarter are expected to be within the previous provided range of 1.6-1.8 million tons. This forecast includes 175,000-200,000 tons of low-margin products sourced from third parties to offset the impact of scheduled turnarounds in the first half of 2024. DAP prices at the plant are projected to stay within the earlier range of $580-$605 per ton.
Mosaic Fertilizantes reported a decline in sales volumes from 1,462,000 tons in January and February 2023 to 1,238,000 tons in the same period of 2024. Revenues also saw a decline from $971 million to $650 million.
The Riverview phosphate fertilizer production facility, with a weekly run rate of nearly 30,000 tons, suffered limited damage to ancillary operations due to a recent brushfire. Production might be affected for four to six weeks following the incident, per MOS. At the time of the fire, the facility primarily focused on producing phosphate products destined for export to Brazil.
Shares of Mosaic have lost 30.3% in the past year compared with a 22.4% decline of the industry.
The consensus estimate for CRS’ current fiscal year earnings is pegged at $4 per share, indicating a year-over-year surge of 250.9%. CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 12.2%. The company’s shares have increased 59.9% in the past year.
Ecolab has a projected earnings growth rate of 22.65% for the current year. The Zacks Consensus Estimate for ECL’s current-year earnings has been revised upward by 5.4% in the past 60 days. ECL topped the consensus estimate in each of the last four quarters, with the average earnings surprise being 1.7%. The company’s shares have rallied 39.1% in the past year.
The consensus estimate for HWKN’s current fiscal year earnings is pegged at $3.61 per share, indicating a 26% year-over-year rise. HWKN beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 30.6%. The company’s shares have surged 74% in the past year.
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Mosaic (MOS) January and February Phosphates & Potash Volume Up
The Mosaic Company (MOS - Free Report) recently disclosed its combined sales volumes and revenues by business unit for January and February 2024. During this period, potash sales volume reached 1,417,000 tons, up from 1,100,000 tons reported in the previous year. However, revenues in the same period dropped to $418 million from $542 million in the previous year.
Looking ahead to the first quarter, the company anticipates potash sales volumes and MOP prices to remain consistent with earlier guidance, ranging between 2-2.2 million tons and $225-$250 per ton, respectively.
In January and February 2024, phosphate sales volume reached 1,087,000 tons, slightly up from 1,066,000 tons recorded during the same period in 2023. However, revenues for this period decreased to $760 million from $827 million in the previous year.
For phosphates, sales volumes for the first quarter are expected to be within the previous provided range of 1.6-1.8 million tons. This forecast includes 175,000-200,000 tons of low-margin products sourced from third parties to offset the impact of scheduled turnarounds in the first half of 2024. DAP prices at the plant are projected to stay within the earlier range of $580-$605 per ton.
The Mosaic Company Price and Consensus
The Mosaic Company price-consensus-chart | The Mosaic Company Quote
Mosaic Fertilizantes reported a decline in sales volumes from 1,462,000 tons in January and February 2023 to 1,238,000 tons in the same period of 2024. Revenues also saw a decline from $971 million to $650 million.
The Riverview phosphate fertilizer production facility, with a weekly run rate of nearly 30,000 tons, suffered limited damage to ancillary operations due to a recent brushfire. Production might be affected for four to six weeks following the incident, per MOS. At the time of the fire, the facility primarily focused on producing phosphate products destined for export to Brazil.
Shares of Mosaic have lost 30.3% in the past year compared with a 22.4% decline of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Mosaic currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Carpenter Technology Corporation (CRS - Free Report) and Ecolab Inc. (ECL - Free Report) , each sporting a Zacks Rank #1 (Strong Buy), and Hawkins, Inc. (HWKN - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for CRS’ current fiscal year earnings is pegged at $4 per share, indicating a year-over-year surge of 250.9%. CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 12.2%. The company’s shares have increased 59.9% in the past year.
Ecolab has a projected earnings growth rate of 22.65% for the current year. The Zacks Consensus Estimate for ECL’s current-year earnings has been revised upward by 5.4% in the past 60 days. ECL topped the consensus estimate in each of the last four quarters, with the average earnings surprise being 1.7%. The company’s shares have rallied 39.1% in the past year.
The consensus estimate for HWKN’s current fiscal year earnings is pegged at $3.61 per share, indicating a 26% year-over-year rise. HWKN beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 30.6%. The company’s shares have surged 74% in the past year.