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2025-10-10 19:50
Mosaic (NYSE:MOS) on Friday said production and sales volumes for potash in the third quarter were both approximately 2.3 million tonnes, while phosphate sales came in at 1.6 million tonnes, trailing production due to shipment timing delays, sending shares 10% lower in early trading.
Sales volumes for Mosaic Fertilizantes in the third quarter were approximately 2.8 million tons, a 25% increase from the second quarter, the company said in a statement.
On the second-quarter earnings call, Mosaic discussed delays in asset health restoration activities within the phosphate segment.
While the company hit its production targets for several weeks after completing maintenance in August, unexpected mechanical issues at the Riverview sulfuric acid plant and utility interruptions at Bartow in mid-September led to a sharp drop in output.
As a result, third-quarter phosphate production volumes of approximately 1.7 million tons, while meaningfully higher than previous quarters, fell below management's expectations.
"These issues have since been addressed, and Mosaic (NYSE:MOS) expects that the asset health investments completed to date will lead to a sustainable improvement in production rates going forward," the company said.
Mosaic, which mines, produces, and distributes millions of tons of potash and phosphate products each year, fell 10% to $30.17. The company will report Q3 earnings on Tuesday, November 4, after market close.