MOSAIC ANNOUNCES OCTOBER AND NOVEMBER 2022 REVENUES AND SALES VOLUMES; UPDATES GUIDANCE

Dec 29, 2022 | potash news

TAMPA, FL / ACCESSWIRE / The Mosaic Company (NYSE:MOS) announced its combined October and November 2022 sales volumes and revenue by business unit.

Potash Oct/Nov
2022
Oct/Nov
2021
Sales Volumes in thousands of tonnes(1) 1,248 1,309
Sales Revenues in millions $780 $529
Phosphates Oct/Nov
2022
Oct/Nov
2021
Sales Volumes in thousands of tonnes(1) 914 1,145
Sales Revenues in millions $785 $902
Mosaic Fertilizantes Oct/Nov
2022
Oct/Nov
2021
Sales Volumes in thousands of tonnes(1) 1,521 1,573
Sales Revenues in millions $1,238 $989

(1)Tonnes = finished product tonnes

For the fourth quarter, total potash sales volumes are now expected to be in the range of 1.8-2.0 million tonnes with realized MOP pricing at the mine in the range of $560-$600 per tonne. Earlier in the quarter, the Colonsay potash mine was temporarily idled as a result of the slower-than-expected recovery in demand.

Phosphate sales volumes are now expected to be in the range of 1.5-1.7 million tonnes. Guidance for realized DAP prices on an FOB basis remains unchanged at $700-$750 per tonne. In addition to slower markets, lingering issues stemming from Hurricane Ian have continued longer than previously expected. Repairs to sulfuric acid plants supporting production at the Bartow facility are now expected to be completed early in the first quarter of 2023.

While demand recovery for both phosphates and potash has been slowed by seasonality in late 2022, Mosaic anticipates 2023 to be a strong year for nutrient application, supported by historically strong crop prices and constructive grower economics. Mosaic will provide additional updates when it reports fourth quarter 2022 earnings results.