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BRIEF-The Mosaic Co reports Q1 sales $1.6 bln vs $1.7 bln
May 2, 2017 / 11:57 AM / 7 months ago

BRIEF-The Mosaic Co reports Q1 sales $1.6 bln vs $1.7 bln

May 2 (Reuters) - Mosaic Co:

* The Mosaic Company reports first quarter 2017 results

* Q1 earnings per share $0.00

* Q1 sales $1.6 billion versus $1.7 billion

* Total sales volumes for phosphates segment are expected to range from 2.3 to 2.6 million tonnes for Q2 of 2017, versus 2.4 million tonnes last year

* Sees FY phosphates sales volumes in range of 9.5 to 10.25 million tonnes

* Mosaic’s realized DAP price, FOB plant, is estimated to range from $320 to $340 per tonne for Q2 of 2017

* Sees FY potash sales volumes in range of 8.0 to 8.75 million tonnes

* Total sales volumes for potash segment expected to range from 2.0 to 2.3 million tonnes for Q2 of 2017, versus 2.0 million tonnes last year

* “Near-term market outlook for potash remains constructive, and we expect gradual improvement in our business results”

* Qtrly results do not yet reflect improving potash and phosphate market conditions anticipate to benefit from for remainder of year

* Mosaic’s realized MOP price, FOB plant, is estimated to range from $170 to $185 per tonne for Q2 2017

* Net sales in phosphates segment were $839 million for q1, down from $909 million last year

* Mosaic co says “we are seeing positive developments in phosphates industry following a challenging 2016”

* Q1 average diammonium phosphate selling price, FOB plant, was $327 per tonne, compared to $355 per tonne a year ago

* Qtrly phosphates segment total sales volumes were 2.3 million tonnes, up from 2.2 million tonnes last year

* “looking forward, we expect to see higher realized potash and phosphate prices in Q2”

* Net sales in potash segment totaled $414 million for q1, up from $394 million last year

* Constructive outlook hasn’t changed and expect to see stronger earnings in remainder of 2017

* “Performance in Q1 was not up to our expectations and was negatively impacted by unusual factors”

* Q1 earnings per share view $0.19, revenue view $1.67 billion -- Thomson Reuters I/B/E/S

* The Esterhazy skip failure, an ammonia plant outage, excessive rainfall at Miski Mayo, rail & logistical issues at Canpotex impacted Q1 earnings

* Q1 earnings per share included a negative $0.04 impact from notable items Source text for Eikon: Further company coverage:

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