05:40 PM EDT, 05/01/2024 (MT Newswires) -- Mosaic (MOS) reported Q1 adjusted net income Wednesday of $0.65 per diluted share, down from $1.14 a year earlier.

Analysts polled by Capital IQ expected $0.66.

Net sales in the quarter ended March 31 fell to $2.68 billion from $3.6 billion a year earlier. Analysts surveyed by Capital IQ expected $2.85 billion.

"The Colonsay potash mine was curtailed in March and will remain idle until market conditions improve," the company said.