Mosaic Blows Away Estimates (MOS)

Mosaic Co. MOS reports Q2 earnings of $1.01 versus estimates of $0.91. Mosaic Co. reports revenues of $2.7 billion versus estimates of $2.44 billion. "Mosaic is on pace for an outstanding year in fiscal 2011," said Jim Prokopanko, President and Chief Executive Officer of Mosaic. "Our second quarter results reflect strong global phosphate and potash demand. Market conditions are excellent and we are beginning calendar 2011 against a backdrop of expected record phosphate and potash demand, low producer inventories and a very lean global distribution pipeline. It's a great time to be the world's leading producer of phosphate and potash." Shares of Mosaic are up in after hours, to trade at $2.75 to $77.75.