Mosaic's Third-Quarter Profit Drops 89% on Lower Sales and Volatile Pricing, an Industrial Info News Alert

Friday, April 10, 2009 8:47 AM

(Source: MARKET WIRE)

Researched by Industrial Info Resources (Sugar Land, Texas)--The Mosaic Company (NYSE:MOS) (Plymouth, Minnesota), a producer of fertilizers, recently announced that its third-quarter 2009 earnings plunged 89% to $58.8 million, compared with $520.8 million in the same period of the previous year. The sharp drop is attributed to significantly lower sales and production, as well as higher raw material costs and lower selling prices, the company said. Looking forward, Mosaic expects capital expenditures to be between $800 million and $900 million, and Lawrence Stranghoener, Chief Financial Officer and Executive Vice President, said the company will continue its planned potash expansions. As part of our North American Industrial Database, Industrial Info is tracking 39 active Mosaic projects worth $4.73 billion. Six of the reports in the database detail information on Mosaic potash expansions; other projects include grassroot mine development, unit additions and maintenance turnarounds.

For details, view the entire article by subscribing to Industrial Info's Premium Industry News at http://www.industrialinfo.com/showNews.jsp?newsitemID=145590, or browse other breaking industrial news stories at www.industrialinfo.com.

Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services. For more information send inquiries to metalsandmineralsgroup@industrialinfo.com or visit us at www.industrialinfo.com.

Related Stories