Mosaic Provides April, May 2023 Data And Revised Q2 Guidance

The Mosaic Co MOS disclosed April and May 2023 revenue and volumes update and revised Q2 guidance.

April/May 2023 Data: The company reported sales revenue for Potash of $672 million (vs. $976 million a comparable prior year), Phosphates of $948 million (vs. $1.027 billion a year ago), and Mosaic Fertilizantes of $791 million ($1.426 billion prior year).

MOS reported sales volumes in thousands of tonnes for Potash of 1,617 (vs. 1,436 a year ago), Phosphates of 1,329 (vs. 959 a year ago), and Mosaic Fertilizantes of 1,305 (1,424 a prior year).

Q2 Outlook Revised: Mosaic now expects potash sales volumes to be towards the high end of the previous guidance of 2.0 million tonnes-2.2 million tonnes, led by solid spring demand in North America. 

The company now projects realized MOP prices (at the mine) near the low end of the earlier outlook of $325 per tonne-$375 per tonne due to the impact of the recent China contract settlement of $307 per tonne.

Mosiac now anticipates Phosphates sales volumes near the low end of the previous guidance of 1.8 million tonnes-2.0 million tonnes, reflecting deferred inventory restocking to Q3 by North American customers following solid demand for the spring season. 

The company now projects realized DAP prices, on a FOB basis, at the high end of the earlier guidance of $550 per tonne-$600 per tonne reflecting higher-priced sales early in the quarter.

Price Action: MOS shares are trading lower by 0.59% at $35.29 premarket on the last check Thursday.