MOS earnings analysis
What we found in MOS's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Mosaic Company reported Q1 2026 earnings with a significant net loss of $258 million, resulting in an EPS of $(0.81), markedly below analyst expectations of $0.21. While revenue of $3.0 billion exceeded estimates, costs surged dramatically due to volatile input prices, particularly sulfur.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth YoY
- Net sales increased to $2,998 million, up 14% from $2,621 million in Q1 2025.
- EPS Misses Expectations
- The diluted EPS came in at $(0.81), missing consensus estimates of $0.21 by a significant margin.
- Phosphate Segment Losses
- The Phosphate segment experienced an operating loss of $(48) million compared to a profit of $139 million a year prior.
- Increased Operating Cash Flow
- Operating cash flow improved to $104.2 million from $42.9 million in Q1 2025.
- Surge in Material Costs
- Raw material costs increased significantly with sulfur prices up 141% to $379 per long ton.
- Higher Capex Spending
- Capital expenditures rose to $356.8 million, reflecting an increase in investment.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Major Losses Due to One-Time Charges
- The company incurred a $232.6 million impairment charge related to the divesture of the Araxá mining complex.
- Withdrawal of Phosphate Guidance
- Mosaic withdrew its phosphate production guidance amidst ongoing raw material constraints.
- Geopolitical Risk Impacting Supply Costs
- Escalating geopolitical tensions have disrupted fertilizer supply chains, leading to increased input costs.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.81
- Gross margin
- 8.0%
- Operating margin
- -12.4%
- Segment
- Potash
- Segment
- Phosphate
- Segment
- Mosaic Fertilizantes
What they said about what is next.
Guidance for future earnings or revenue was not provided; management emphasized uncertainty related to raw material costs and geopolitical conditions.
The filing reads worse than the one before it.
What came before.
- 10-K · February 27, 2026
- Mosaic highlights scale and market position as a leading phosphate and potash producer (approximately 10% of global phosphate and 12% of global potash production) while reporting a volatile 2025 with a Q4 earnings and…
- 10-Q · November 5, 2025
- Mosaic reported a strong quarter with net sales of $3,452.1 million (up $641.2 million, +22.8% vs Q3 2024) and diluted EPS of $1.29 (vs $0.38 in Q3 2024). Gross margin improved to $552.3 million (16.0% of sales) and…
- 10-Q · May 7, 2025
- Mosaic reported Q1 net sales of $2,620.9 million (down from $2,679.4 million year‑over‑year) but delivered a strong earnings beat driven by margin expansion and non‑operational items: diluted EPS was $0.75 versus $0.14…
- 10-K · March 3, 2025
- Mosaic emphasizes market leadership in phosphate and potash with scale in North America and Brazil, completed a $1.5 billion Ma’aden share exchange (pre-tax gain ~ $0.5 billion) in 2024, and returned capital via $235.4…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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