RTTNews | Nov 2, 2020 08:46PM EST

20:46 Monday, November 2, 2020 (RTTNews.com) - Mosaic Co. (MOS) reported that its third-quarter net loss attributable to the company narrowed to $6.2 million or $0.02 per share from $44.1 million or $0.11 per share in the prior year.

The latest-quarter results negatively impacted by notable items of $93 million after tax, or $0.25 per share, of which $68 million, or $0.17 per share, resulted from noncash charges from an annual review of estimated future phosphate asset retirement obligations and an environmental remediation reserve.

Adjusted earnings per share were $0.23. Analysts polled by Thomson Reuters expected the company to report earnings of $0.17 per share. Analysts' estimates typically exclude special items.

Net sales for the quarter declined to $2.38 billion from $2.75 billion in the previous year. Analysts expected revenue of $2.38 billion for the quarter.

The company expects strong business conditions to continue into 2021, with improving grain and oil seed prices and limited inventories of fertilizer in all channels.

Read the original article on RTTNews ( https://www.rttnews.com/3142129/mosaic-q3-loss-narrows-sees-strong-business-conditions-to-continue-into-2021.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com All Rights Reserved