The Mosaic Company (MOS - Free Report) has released April 2020 sales volume and revenue figures for its segments.
In the Potash unit, the company recorded sales volume of 914,000 tons in April, up 42.6% year over year. Revenues in the segment rose 11.7% year over year to $200 million in the month.
In the Mosaic Fertilizantes unit, sales volume rallied 11.5% year over year to 592,000 tons. However, revenues in the segment fell 14.4% year over year to $173 million in April.
In Phosphates, the company reported 22.5% year-over-year growth in sales volume to 751,000 tons. However, revenues in the segment fell 4.8% year over year to $258 million in April.
Shares of Mosaic have lost 52.6% in the past year compared with the industry’s 28.2% decline.
Early this month, the company reported adjusted loss per share of 6 cents in first-quarter 2020, which was wider than the Zacks Consensus Estimate of a loss of 5 cents.
Net sales fell 5.3% year over year to $1,798.1 million in the quarter, hurt by reduced sales prices. The figure, however, beat the Zacks Consensus Estimate of $1,641.3 million.
Mosaic stated that it expects depreciation, depletion and amortization of $910-$920 million for 2020. Moreover, it anticipates net interest expenses of $180-$190 million for 2020.
Also, the company anticipates capital expenditure of roughly $1.2 billion for 2020.
Mosaic also expects to receive cash proceeds of up to $170 million from tax refunds and unwinding of an interest rate swap in 2020. The company also noted that it expects to achieve $50 million in Mosaic Fertilizantes' transformational savings for 2020.
The Mosaic Company Price and Consensus
Zacks Rank & Stocks to Consider
Mosaic currently carries a Zacks Rank #3 (Hold).
Some better-ranked companies in the basic materials space are Equinox Gold Corp. (EQX - Free Report) , Newmont Corporation (NEM - Free Report) and Barrick Gold Corporation (GOLD - Free Report) .
Equinox Gold currently sports a Zacks Rank #1 (Strong Buy) and has a projected earnings growth rate of 231% for 2020. The company’s shares have gained 44.2% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Newmont has a projected earnings growth rate of 85.6% for the current year. The company’s shares have rallied around 103% in a year. It currently has a Zacks Rank #2 (Buy).
Barrick has a projected earnings growth rate of 64.7% for 2020. It currently carries a Zacks Rank #2. The company’s shares have rallied 109% in a year.
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