MOSAIC CO (MOS): Results of Operations and Financial Condition
MOSAIC CO (MOS) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 The Mosaic Company 101 E. Kennedy Blvd., Suite 2500 Tampa, FL 33602 www.mosaicco.com FOR IMMEDIATE RELEASE THE MOSAIC COMPANY REPORTS SECOND QUARTER 2026 RESULTS • Second quarter results included revenues of $2.8 billion, an operating loss of $36 million and a net lo
How this was made
The 30-second read
Why it matters
The exhibit includes diluted net earnings (loss) per share, adjusted diluted EPS, net sales, operating earnings, cash flow from operations, investing/financing cash flows, and balance-sheet items like net debt. It also breaks out segment contributions for Phosphate and Potash and provides operating data such as tonnes sold and realized costs.
Market read
For MOS traders, the most actionable value is trend verification: profitability deterioration in 2025-2026 quarters, cash flow volatility, and rising net debt levels shown in the selected data.
What to watch
The excerpt highlights large swings in foreign currency gains/losses and notable items, which can distort headline earnings quality; focus on adjusted EPS, adjusted EBITDA, and operating cash flow trend rather than GAAP EPS alone.
Q2 2026 net loss attributable to Mosaic was $273 million and diluted loss per share was $0.86, while adjusted diluted net earnings per share were $0.13.
Potash maintained positive operating earnings of $195 million and gross margin of $207 million, but consolidated operating earnings were a loss of $36 million. Phosphate reported operating losses of $104 million and Mosaic Fertilizantes reported operating losses of $41 million, while consolidated gross margin was $214 million and net debt was $5,561 million.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Diluted net earnings (loss) per shareGAAP | $(0.86) per share | – | – |
| Notable items impact on earnings per shareother | $(0.99) per share | – | – |
| Adjusted diluted net earnings per sharenon-GAAP | $0.13 per share | – | – |
| Diluted weighted average number of shares outstandingGAAP | 317.9 million | – | – |
| Total net salesGAAP | $2,824 million | – | – |
| Cost of goods soldGAAP | $2,610 million | – | – |
| Gross marginGAAP | $214 million | – | – |
| SG&AGAAP | $131 million | – | – |
| Other operating expenseGAAP | $119 million | – | – |
| Operating earningsGAAP | $(36) million | – | – |
| Interest expense, netGAAP | $(63) million | – | – |
| Consolidated foreign currency gain/(loss)GAAP | $(40) million | – | – |
| Earnings from consolidated companies before income taxesGAAP | $(302) million | – | – |
| Benefit from income taxesGAAP | $(34) million | – | – |
| Earnings (loss) from consolidated companiesGAAP | $(268) million | – | – |
| Equity in net earnings of nonconsolidated companiesGAAP | $2 million | – | – |
| Net earnings attributable to noncontrolling interestsGAAP | $7 million | – | – |
| Net earnings (loss) attributable to MosaicGAAP | $(273) million | – | – |
| After-tax notable items included in earningsother | $(315) million | – | – |
| Gross margin rateGAAP | 8% | – | – |
| Effective tax rate (including discrete tax)GAAP | 11% | – | – |
| Discrete tax benefitGAAP | $36 million | – | – |
| Depreciation, depletion and amortizationother | $292 million | – | – |
| Accretion expenseother | $34 million | – | – |
| Share-based compensation expenseother | $8 million | – | – |
| Notable itemsother | $317 million | – | – |
| Adjusted EBITDAnon-GAAP | $407 million | – | – |
| Net cash provided by operating activitiesGAAP | $167 million | – | – |
| Cash paid for interest, net of amount capitalizedGAAP | $91 million | – | – |
| Cash paid for income taxes, net of refundsGAAP | $45 million | – | – |
| Net cash used in investing activitiesGAAP | $(298) million | – | – |
| Capital expendituresGAAP | $(320) million | – | – |
| Net cash provided by financing activitiesGAAP | $148 million | – | – |
| Cash dividends paidGAAP | $(70) million | – | – |
| Effect of exchange rate changes on cashGAAP | $(10) million | – | – |
| Net change in cash and cash equivalentsGAAP | $7 million | – | – |
| Short-term debtGAAP | $1,021 million | – | – |
| Long-term debt (including current portion)GAAP | $4,834 million | – | – |
| Cash & cash equivalentsGAAP | $294 million | – | – |
| Net debtother | $5,561 million | – | – |
| Total finished product tonnes soldother | 5,313 ('000 tonnes) | – | – |
| Sales of Performance Productsother | 626 ('000 tonnes) | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| PhosphateNet sales included $1,060 million of finished goods and $186 million of other revenue. Gross margin was $(5) million, operating earnings were $(104) million, and adjusted EBITDA was $128 million. | $1,246 million | – | – |
| PotashNet sales included $566 million of finished goods and $84 million of other revenue. Gross margin was $207 million, operating earnings were $195 million, and adjusted EBITDA was $278 million. | $650 million | – | – |
| Mosaic FertilizantesNet sales included $889 million of finished goods and $145 million of other revenue. Gross margin was $6 million, operating earnings were $(41) million, and adjusted EBITDA was $60 million. | $1,034 million | – | – |
| Corporate and OtherCorporate and Other reported operating earnings of $(86) million and total finished product tonnes sold of 368 ('000 tonnes). | $(106) million | – | – |
Capital returns
- Cash dividends paid were $(70) million.
What drove it
- Phosphate DAP/MAP sales volumes were 777 ('000 tonnes), total finished product sales volumes were 1,406 ('000 tonnes), and the average finished product selling price was $754 per tonne.
- Phosphate gross margin per tonne of finished product was $(4), adjusted gross margin per tonne was $1, and the operating rate was 58%.
- Potash MOP sales volumes were 1,892 ('000 tonnes), total finished product sales volumes were 2,019 ('000 tonnes), and the average finished product selling price was $280 per tonne.
- Potash gross margin per tonne of finished product was $103, the operating rate was 64%, and MOP cash costs of production were $84 per production tonne.
- Mosaic Fertilizantes gross margin was $6 million and adjusted gross margin was $32 million.
Concerns
- Consolidated operating earnings were $(36) million, compared with $244 million in Q2 2025.
- Net loss attributable to Mosaic was $(273) million and diluted loss per share was $(0.86).
- Phosphate gross margin was $(5) million and operating earnings were $(104) million.
- Mosaic Fertilizantes operating earnings were $(41) million.
- Net debt was $5,561 million, with $4,834 million of long-term debt including current portion.
What to watch
- Phosphate gross margin, which was $(5) million, and the Phosphate operating rate of 58%.
- Potash operating earnings of $195 million, total finished product sales volumes of 2,019 ('000 tonnes), and the operating rate of 64%.
- Mosaic Fertilizantes gross margin of $6 million and adjusted EBITDA of $60 million.
- Operating cash flow of $167 million against capital expenditures of $(320) million.
- Net debt of $5,561 million and long-term debt including current portion of $4,834 million.
Balance sheet and cash flow
- Net cash provided by operating activities was $167 million.
- Net cash used in investing activities was $(298) million.
- Capital expenditures were $(320) million.
- Net cash provided by financing activities was $148 million.
- Cash & cash equivalents were $294 million.
- Short-term debt was $1,021 million.
- Long-term debt (including current portion) was $4,834 million.
- Net debt was $5,561 million.
Analysis
The Mosaic Company reported Q2 2026 total net sales of $2,824 million, gross margin of $214 million, and an operating loss of $(36) million. Net loss attributable to Mosaic was $(273) million, or $(0.86) per diluted share. Adjusted diluted net earnings per share were $0.13 and adjusted EBITDA was $407 million. The result included $317 million of notable items and $(315) million of after-tax notable items included in earnings.
The segment mix was uneven. Potash generated $650 million of net sales, $207 million of gross margin, $195 million of operating earnings, and $278 million of adjusted EBITDA. Its average finished product selling price was $280 per tonne, while total finished product sales volumes were 2,019 ('000 tonnes). Phosphate generated $1,246 million of net sales but recorded gross margin of $(5) million and an operating loss of $(104) million. Mosaic Fertilizantes generated $1,034 million of net sales, gross margin of $6 million, and an operating loss of $(41) million.
Operating data point to lower activity in the reported quarter versus the comparison periods presented in the filing. Consolidated total finished product tonnes sold were 5,313 ('000 tonnes), compared with 6,422 ('000 tonnes) in Q2 2025 and 6,092 ('000 tonnes) in Q1 2026. Phosphate total finished product sales volumes were 1,406 ('000 tonnes), and its operating rate was 58%. Potash total finished product sales volumes were 2,019 ('000 tonnes), and its operating rate was 64%.
Cash generation did not cover reported capital expenditures in the quarter. Net cash provided by operating activities was $167 million, while capital expenditures were $(320) million and net cash used in investing activities was $(298) million. The company paid $(70) million of cash dividends and reported $148 million of net cash provided by financing activities. Cash and cash equivalents were $294 million, short-term debt was $1,021 million, long-term debt including current portion was $4,834 million, and net debt was $5,561 million.
The filing provides no forward guidance. The central items for investors are whether Phosphate can move beyond its $(5) million gross margin, whether Mosaic Fertilizantes can improve from $6 million of gross margin, the durability of Potash's $195 million operating earnings, and the company's cash generation and debt position. Consolidated gross margin rate was 8%, unchanged from Q1 2026 and below the 17% reported in Q2 2025.
Not in the filing
stated, not guessed- Period-end date was not provided in the supplied filing text.
- Forward guidance was not provided in the supplied filing text.
- Previous-period outlook was not provided.
- Executive commentary and named executive quotes were not provided.
- Share repurchases were not provided.
- Dividend declaration, dividend rate, and shares repurchased were not provided.
- Free cash flow was not reported.
- A full Mosaic Fertilizantes operating-data table was not included in the supplied filing text because the text ends during that section.
- Percentage changes for consolidated metrics and segment revenue were not reported.
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
The Mosaic Company (MOS) submitted an SEC Form 8-K, Item 2.02, attaching Exhibit 99.2 with selected calendar-quarter financial information (unaudited) across multiple quarters from Q3 2024 through Q2 2026.
Ticker impact
Mosaic filed an 8-K with selected quarterly financial information showing diluted EPS swung from $1.04 (Q4 2025) to $0.05 (Q1 2026) and net loss in Q2 2026.
Near-term price impact is likely limited unless traders treat the numbers as a correction versus prior disclosures; otherwise it is more of a reference update.
This is an SEC 8-K exhibit with unaudited selected calendar-quarter data. It contains concrete financial line items (EPS, operating earnings, net cash from operations, net debt) but the excerpt does not show a new guidance change, deal, or regulatory action.
Market effects
Fertilizer producers often trade on margin and cash-flow trends; the exhibit’s segment sales and operating earnings can inform relative positioning, but no new sector catalyst is disclosed.
No region-specific demand or policy catalyst is described in the provided excerpt.
No new global commodity or trade-policy shock is stated; the data is company-specific financial reporting.
Counterpoint
Traders may already have the underlying quarterly results from prior earnings releases, making this 8-K exhibit more of a consolidation than a fresh catalyst.
Key entities
- issuerThe Mosaic Company
Subject of the SEC 8-K exhibit with selected quarterly financial and segment data.
