Q2 2024 Mosaic Co Earnings Call Transcript
Key Points
- The Mosaic Co (MOS) delivered adjusted EBITDA of $584 million on revenues of $2.8 billion for Q2 2024.
- The company has achieved more than one-third of its $150 million annual run rate cost savings target.
- Phosphate production volume increased by almost 100,000 tons over the first quarter.
- The Mosaic Co (MOS) has launched its biological products in multiple international markets, covering 5 million acres.
- The company returned almost $300 million to shareholders, including $160 million in share repurchases in the first six months of 2024.
- Adjusted EBITDA and revenues decreased compared to the same quarter last year, from $744 million and $3.4 billion respectively.
- Adjusted earnings per share dropped to $0.54 from $1.04 in 2023.
- The company experienced serious safety incidents, including a fatality at the New Wales facility.
- Riverview performance was lower than the target rate due to an outage caused by a brushfire and a slow production ramp-up.
- The operating environment in Brazil agriculture has been challenging, impacting market participants.
Good morning, and welcome to The Mosaic Company's second-quarter 2024 earnings conference call. (Operator Instructions)
Your host for today's call is Jason Tremblay. Jason, you may begin.
Thank you, and welcome to our second-quarter 2024 earnings call. Opening comments will be provided by Bruce Bodine, President and Chief Executive Officer; followed by a fireside chat, then open Q&A. Clint Freeland, Executive Vice President and Chief Financial Officer; and Jenny Wang, Executive Vice President, Commercial, will also be available to answer your questions.
We will be making forward-looking statements during this conference call. The statements include, but are not limited to, statements about future financial and operating results. They are based on management's beliefs and expectations as of today's date and are subject to significant risks and uncertainties.
Actual results may differ materially from projected results. Factors that could cause actual results to differ materially from
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
