Mosaic Q2 2026: $273 million net loss as sulfur costs crush margins
Mosaic lost $272.8 million in the June 2026 quarter, or $0.86 per share, as sulfur and ammonia costs and self-imposed production cuts shrank gross margin to 7.6% from 17.3% a year earlier. On adjusted numbers the quarter looked far less ugly and slightly beat the $0.13 consensus: adjusted EPS was $0.13 and adjusted EBITDA was $407 million versus $566 million. Read the loss as a cost-and-curtailment story, not a demand collapse — potash held flat.
1 · Expected vs. Actual
Free preview belowGAAP diluted loss per share was $0.86, against earnings of $1.29 a year earlier. Adjusted EPS was $0.13, a hair above the $0.1259 consensus, because $351 million of pre-tax notable items — worth $0.99 per share — were stripped out. Those items were mostly non-cash: $162 million of mark-to-market on the Ma'aden stake, $69 million of project write-offs, and $49 million of foreign currency transaction losses.
Revenue was $2.82 billion, down 6.0% from $3.01 billion in the same quarter last year. Volumes fell in all three segments — phosphate to 1.4 million tonnes from 1.5 million, potash to 2.0 million tonnes from 2.3 million, and Fertilizantes to 1.5 million tonnes from 2.2 million. Prices moved the other way, with DAP FOB plant prices at $773 per tonne versus $668 a year ago, so the top line fell on tonnage rather than pricing.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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