Why Mosaic Stock Slid Wednesday

by Ryan Gustafson Benzinga Staff Writer

Zinger Key Points

Mosaic stock sinks over 4% due to the company's announcement of revenue and sales volumes from October and November 2023.
The company issued Q4 guidance, including noting the risks which dry weather conditions pose to Brazil fertilizer shipments.
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The Mosaic Company MOS stock is trading lower on Wednesday after the company announced October and November 2023 revenue and sales volumes.
What To Know: Wednesday's selloff was in relation to revenue and sales volumes for the previous two months, announced after the close of the market on Tuesday.

Mosaic also provided its forecast for the fourth quarter. The company sees potash sales volumes and MOP prices at the mine near the low end of the previous guidance range of 2.4 million to 2.6 million tonnes, and $235 to $260 per tonne, respectively.
Sales volumes for the phosphates business unit are anticipated to be near the low end of the previous guidance range of 1.6 million to 1.8 million tonnes while realized DAP prices at the plant are estimated to be in the previous guidance range of $530 to $580 per tonne.
Additionally, the company cautioned that fertilizer shipments to Brazil may be threatened by dry weather conditions during the fourth quarter.

MOS Price Action: Shares of MOS were down 4.71% at $36.36 at the time of publication, according to Benzinga Pro.