Mosaic: reduces target earnings range for 2019
(CercleFinance.com) - US fertilizer group Mosaic has reduced its 2019 adjusted EBITDA forecast to 1.
4 billion to 1.5 billion dollars, with an adjusted EPS of 50 cents to 60 cents, against previous target ranges of 1.8 to 2 billion dollars and 1.10 dollar to 1.50 dollar three months ago.
It justifies this decline by historically low volumes of potash sales, due to delays in Canpotex deliveries to India and China, along with its expectation that phosphate margins and prices remain in line with September levels.
In Q3, the group posted adjusted net income of 29 million dollars, meaning EPS of eight cents, i.e. almost 15 cents below the consensus, with adjusted EBITDA of 366 million dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
4 billion to 1.5 billion dollars, with an adjusted EPS of 50 cents to 60 cents, against previous target ranges of 1.8 to 2 billion dollars and 1.10 dollar to 1.50 dollar three months ago.
It justifies this decline by historically low volumes of potash sales, due to delays in Canpotex deliveries to India and China, along with its expectation that phosphate margins and prices remain in line with September levels.
In Q3, the group posted adjusted net income of 29 million dollars, meaning EPS of eight cents, i.e. almost 15 cents below the consensus, with adjusted EBITDA of 366 million dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.