Mosaic’s net sales were flat at $2.2 billion in the third quarter as growth in phosphate sales was offset by declines in potash sales. Thomson Reuters had sales targeted at $2.5 billion.
The company report showed that the quarter’s gross margin was down to $522 million, or 24% of net sales, but that is down from $854 million and down from 39% of net sales from a year ago due mostly to lower potash volumes and higher phosphate raw material costs.
Cash flow provided by operating activities in the third quarter of fiscal 2012 was $405 million compared to $366 million in the prior year, and the company’s cash and cash equivalents were $3.2 billion and long-term debt was $1.0 billion as of February 29, 2012.
Mosaic shares closed down 0.6% at $58.22 and shares are indicated down around $58.00 in the after-hours.
JON C. OGG
Contact [email protected] for any questions or corrections.
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