Mosaic Company posted a net loss of $258-million for the first quarter of this year, compared with net income of $238-million reported for the first quarter of 2025.
Mosaic’s North America business includes seven potash and phosphate mining facilities primarily located in Saskatchewan, Canada, and Florida, in the US, along with five phosphate concentrates sites in Louisiana and Florida, in the US.
Mosaic’s South America business includes potash and phosphates facilities across Brazil, Paraguay and Peru. With head offices in São Paulo, Brazil, Mosaic Fertilizantes has regional commercial and production facilities, as well as port and storage units in many parts of the country, including 13 facilities, seven tolls, one port terminal and 6.6-million tonnes of blending capacity.
The company’s first-quarter results were negatively impacted by $323-million of pre-tax notable items. Mosaic recorded $442-million of charges stemming from the idling of Araxa and Patrocinio.
Adjusted earnings before interest, taxes, depreciation and amortisation were $416-million and adjusted earnings a share were $0.05.
“Business conditions were volatile in the first quarter. We responded by curtailing uneconomic production, carefully managing working capital and using our market access to meet customer demand,” president and CEO Bruce Bodine explains.
“As we look to the rest of the year, we are prepared to take additional actions to ensure we navigate effectively for the short term while preserving our ability to benefit when market dynamics improve,” he adds.
Sales volumes in the first quarter were 1.9-million tonnes for phosphate, 2.2-million tonnes for potash and 1.6-million tonnes for Mosaic Fertilizantes.
Riverview, Bartow and Faustina phosphoric acid production rates were at target in the first quarter.
A major turnaround was completed at New Wales in March.
Capital expenditure for this year is now expected to be $1.25-billion, reflecting a deferral of less time-sensitive spending.
A phosphate production plan in the US and Brazil is under review as a result of raw material constraints; and partial curtailments are set to begin in May.
The company paid a regular common dividend of $0.22 apiece in the first quarter.