Mosaic Declares April Sales Volumes & Revenues of Segments

The Mosaic Company MOS 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

 

The Mosaic Company Price and Consensus

The Mosaic Company price-consensus-chart | The Mosaic Company Quote

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, Newmont Corporation NEM and Barrick Gold Corporation GOLD.

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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