MOS 3Q EPS Ahead Of Citi Estimate

Mosaic Co.'s (MOS) 3Q EPS of $1.21 was “ahead of our estimate ($1.10) and consensus ($1.07),” Citi reports. “However, earnings were impacted by several items, including a ~6¢ windfall from an insurance recovery in the potash business, a ~3¢ expense due to debt repurchase and a ~5¢ benefit due to a lower than expected tax rate,” Citi writes. “Cumulatively these items added ~8¢ to EPS vs. our estimate. While ag fundamentals remain supportive, much of the good news is factored into fertilizer stocks in our view.” Mosaic closed Thursday at $78.75.