Operating on a global scale via its various subsidiaries, The Mosaic Company specializes in the creation and distribution of concentrated phosphate and ...
The Mosaic Company, incorporated in 2004, is a global leader in crop nutrition, producing and distributing concentrated phosphate and potash—two of the three most essential nutrients for agriculture. With headquarters in Tampa, Florida, Mosaic operates across three segments: Phosphates, Potash, and Mosaic Fertilizantes. The company mines its own raw materials ...The Mosaic Company, incorporated in 2004, is a global leader in crop nutrition, producing and distributing concentrated phosphate and potash—two of the three most essential nutrients for agriculture. With headquarters in Tampa, Florida, Mosaic operates across three segments: Phosphates, Potash, and Mosaic Fertilizantes. The company mines its own raw materials and processes them into a diverse range of products including diammonium phosphate (DAP), monoammonium phosphate (MAP), and other ammoniated phosphates, as well as animal feed ingredients under brands like Biofos and Nexfos. Additionally, Mosaic produces K-Mag, a unique double sulfate of potash magnesia. In potash, the company is a key producer, supplying compound fertilizers, animal feed, industrial applications, de-icing, and water softener regeneration. Mosaic also provides nitrogen-based nutrients and services, and engages in procurement and resale of fertilizers. Customers range from wholesale distributors to individual farmers. Financially, Mosaic has a market cap of approximately $7.3 billion, a price-to-earnings ratio of 115.3, and a dividend yield of 3.8%. The company employs around 13,249 full-time staff across six countries. With a focus on sustainable and efficient production, Mosaic aims to help the world grow food while maintaining a reliable domestic foundation for agriculture.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$12.1B
+8.4%
-5.8%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$540.7M
+209.1%
-5.9%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+15.1%
+10.9%
-3.3%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+8.7%
+55.9%
+89.9%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+4.5%
+185.3%
-12.4%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-534.6M
-1227.8%
+39.5%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-4.4%
-1140.9%
+35.7%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
43.7%
+12.7%
+4.6%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.32x
+21.9%
+7.3%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good morning, and welcome to The Mosaic Company's Second Quarter 2026 Earnings Conference Call. [Operator Instructions] And now I'll turn it over to Mr. Paul Massoud. Please go ahead.
Paul Massoud: Thank you, and welcome to our second quarter 2026 earnings call. Opening comments will be provided by Bruce Bodine, President and Chief Executive Officer; Luciano Siani Pires, Executive Vice President and Chief Financial Officer will review financial results. We will then welcome Jenny Wang, Executive Vice President, Commercial, to join Bruce and Luciano as we open the floor for questions. We will be making forward-looking statements during this conference call. Statements include, but are not limited to, statements about future financial and operating results. They are based on management's beliefs and expectations as of today's date and are subject to significant risks and uncertainties. Actual results may differ materially from projected results. Factors that could cause actual results to differ materially from those in the forward-looking statements are included in our press release published this morning and in our reports filed with the Securities and Exchange Commission. Please note, in today's presentation and in our press release and performance data, we will refer to and provide various financial measures, including adjusted EBITDA, adjusted earnings per share, free cash flow, cost per tonne and adjusted effective tax rate, either on a total company or segment basis. Unless we specifically state otherwise, statements regarding these measures refer to our adjusted non-GAAP financial measures. Reconciliations of these measures to our most directly comparable GAAP financial measures can be found in our earnings release. Now I'd like to turn the call over to Bruce.
Bruce Bodine: Good morning. Thank you for joining our call. Our message for you today is simple. Mosaic is working through a difficult market by successfully managing what is under our control and positioning ourselves for an eventual recovery. Sulfur affordability and availability remain key drivers, but we know the situation will improve. We've curtailed production, and we're relying on our strong balance sheet as a bridge to a more sustainable environment. Here are some key examples from the quarter. We further curtailed phosphate production and minimized our purchases of high-cost raw materials. We've locked in a significant portion of our third quarter sulfur supply at reasonable prices that, while historically elevated, are still well below the current spot market. Across our business, we're aggressively managing our costs, which you can see in SG&A. These are real savings that we expect to be permanent. We fortified our liquidity by terming out short-term debt. If this environment persists, we have full access to our untapped $2.5 billion revolver. And we've addressed all of these near-term issues without sacrificing our long-term goals. We're reallocating …
