Mosaic misses by $0.16, misses on revs; reaffirms FY17 outlook
- Reports Q1 (Mar) earnings of $0.04 per share, excluding non-recurring items, $0.16 worse than the Capital IQ Consensus of $0.20; revenues fell 5.7% year/year to $1.58 bln vs the $1.68 bln Capital IQ Consensus.
Outback for Q2:
- Total sales volumes for the Phosphates segment are expected to range from 2.3 to 2.6 million tonnes for the second quarter of 2017, compared to 2.4 million tonnes last year. Mosaic's realized DAP price, FOB plant, is estimated to range from $320 to $340 per tonne for the second quarter of 2017.
- Total sales volumes for the Potash segment are expected to range from 2.0 to 2.3 million tonnes for the second quarter of 2017, compared to 2.0 million tonnes last year. Mosaic's realized MOP price, FOB plant, is estimated to range from $170 to $185 per tonne.
- Total sales volumes for the International Distribution segment are expected to range from 1.4 to 1.7 million tonnes for the second quarter of 2017, compared to 1.4 million tonnes last year. The segment gross margin per tonne is estimated to be approximately $20.
Full year estimates remain unchanged. Mosaic estimates:
- Phosphates sales volumes in the range of 9.5 to 10.25 million tonnes.
- Potash sales volumes in the range of 8.0 to 8.75 million tonnes.
- International Distribution sales volumes in the range of 7.0 to 7.5 million tonnes.