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Mosaic misses estimates for quarterly profit on lower prices
Aug 6, 2024 1:44 PM

Aug 6 (Reuters) - Fertilizer producer Mosaic

missed estimates for second-quarter profit on Tuesday, hurt by

declining fertilizer prices.

A drop in crop prices has forced farmers to cut back on

spending on fertilizer, hurting companies like Mosaic.

The company said its average sale price for potash fell

to $224 per tonne, compared with $326 per tonne a year-earlier.

The Tampa, Florida-based company reported adjusted earnings

of 54 cents per share for the quarter ended June 30, compared

with analysts' average estimate of 66 cents per share, according

to LSEG data.

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