The Mosaic Company (MOS) Misses Q1 EPS by 4c

The Mosaic Company (NYSE: MOS) reported Q1 EPS of $0.70, $0.04 worse than the analyst estimate of $0.74. Revenue for the quarter came in at $2.14 billion versus the consensus estimate of $2.18 billion.

Guidance:

Total sales volumes for the Phosphates segment are expected to range from 2.3 to 2.7 million tonnes for the second quarter of 2015, compared to 2.6 million tonnes last year. Mosaic's realized DAP price, FOB plant, is estimated to range from $425 to $450 per tonne for the second quarter of 2015. The segment gross margin rate in the second quarter is estimated to be around 20 percent and the operating rate is expected to be in the 80 to 85 percent range.

Total sales volumes for the Potash segment are expected to range from 2.0 to 2.4 million tonnes for the second quarter of 2015, compared to 2.5 million tonnes last year. Mosaic's realized MOP price, FOB plant, for the second quarter of 2015 is estimated to range from $265 to $290 per tonne. Mosaic's gross margin rate in the segment is expected to be in the upper 30 percent range during the second quarter of 2015, while the operating rate is expected to be in the 85 to 90 percent range.

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 2015, compared to 1.2 million tonnes last year. The segment gross margin per tonne in the second quarter is estimated to be in the range of $18 to $25 per tonne.

For the 2015 full year guidance, Mosaic updates the following estimates:

• Canadian resource taxes and royalties to range from $325 to $375 million.
• The effective tax rate to be in the high teens.

The remaining 2015 full year guidance is unchanged:

• SG&A expenses to range from $360 to $380 million, inclusive of costs from the newly acquired distribution business in Brazil and Paraguay.
• Brine management costs to be in the range of $180 to $200 million.
• Capital expenditures and investments in the range of $1.1 to $1.4 billion.
• Phosphates sales volumes in the range of 9.0 to 10.0 million tonnes.
• Potash sales volumes in the range of 8.5 to 9.0 million tonnes.
• International Distribution sales volumes in the range of 6.0 to 7.0 million tonnes

For earnings history and earnings-related data on The Mosaic Company (MOS) click here.

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