Mosaic Company (NYSE: MOS) reported Q1 EPS of $0.54, versus $0.89 reported last year. Revenue for the quarter came in at $2 billion, versus $2.3 billion reported last year.

Business Highlights – First Quarter 2014

• Mosaic successfully closed the acquisition of CF Industries' phosphate business and began integration work.
• The Company's organic growth projects continue to progress as planned:
  • The Esterhazy K3 mine development is on track, with both shafts more than 1000 feet below surface.
  • The construction of the Saudi Arabia phosphate project began during the quarter.
• Mosaic announced plans to expand MicroEssentials® capacity, adding an incremental 1.2 million tonnes, and bringing total capacity to 3.5 million tonnes by 2017.
• The Company repurchased 8.2 million shares of Class A stock from Cargill family trusts, in addition to the 27.8 million repurchased from the MAC Trusts, for a total of 36 million shares repurchased in the quarter. In total, Mosaic has repurchased or committed to repurchase approximately 52 million shares, 12 percent of year-end 2013 shares outstanding.
• Mosaic launched Aspire™, the first-of-its-kind micronutrient-enhanced potash fertilizer.
• Mosaic continued to execute on an enterprise-wide initiative focused on achieving $500 million in annual operating cost savings over the next five years, in alignment with a goal first communicated in October of 2013 and the special equity incentive awards granted during the quarter.
• The Company's reportable injury rate in the first quarter of 2014 improved by almost five percent over record setting results in the same period last year.
• Subsequent to the quarter end, Mosaic announced an agreement to purchase Archer Daniels Midland's fertilizer distribution business in Brazil and Paraguay, allowing the Company to accelerate its growth strategy there.

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