Mosaic misses by $0.06, misses on revs; updates F716 guidance
- Reports Q2 (Jun) earnings of $0.06 per share, excluding $0.09 non-recurring items, $0.06 worse than the Capital IQ Consensus of $0.12; revenues fell 32.7% year/year to $1.67 bln vs the $1.75 bln Capital IQ Consensus.
For calendar year 2016, Mosaic updated its guidance as follows:
- SG&A expense to range from $330-350 mln, down from the initialguidance of $350-370 mln.
- Brine management costs to range from $150-170 mln, down from $160-180 mln.
- Capital expenditures to range from $750-850 mln, down from the Company's most recent guidance of $800-900 mln. E
- CRT to range from $95-110 mln; the Company will no longer provide CRT rate guidance.
- The effective tax rate to be approximately 10%, down from priorguidance of upper teens.
All other full year 2016 guidance remains unchanged
- Phosphates sales volumes to range from 9-9.75 mln tonnes.
- Potash sales volumes to range from 7.5-8 mln tonnes.
- International Distribution sales volumes to range from 6-7 mln tonnes.