Mosaic beats by $0.06, reports revs in-line (24.14)
- Reports Q2 (Jun) earnings of $0.29 per share, excluding $0.01 in non-recurring items, $0.06 better than the Capital IQ Consensus of $0.23; revenues rose 4.7% year/year to $1.75 bln vs the $1.75 bln Capital IQ Consensus.
- Guidance: Total sales volumes for the Phosphates segment are expected to range from 2.2 to 2.5 mln tonnes for the third quarter of 2017, compared to 2.5 mln tonnes last year. Total sales volumes for the Potash segment are expected to range from 1.9 to 2.2 mln tonnes for the third quarter of 2017, compared to 2.2 mln tonnes last year. For calendar 2017, Mosaic now expects: Canadian resource taxes to range from $90 to $110 mln, narrowed from previous guidance of $85 to $135 mln. Brine management costs to range from $150 to $160 mln, down from $160 to $180 mln. Capital expenditures in the range of $800 to $850 mln down from a range of $800 to $900 mln. Potash sales volumes in the range of 8.1 to 8.6 mln tonnes, narrowed from 8.0 to 8.75 mln tonnes. Phosphates sales volumes in the range of 9.5 to 10 mln tonnes, narrowed from 9.5 to 10.25 mln tonnes. International Distribution sales volumes in the range of 6.75 to 7.25 mln tonnes, down from 7.0 to 7.5 mln tonnes.