Mosaic (MOS) shares fell about 2.5% after hours as the fertilizer company missed analysts’ third quarter earnings expectations.
Mosaic posted 64 cents of EPS, 10 cents below expectations. Revenue fell 1.1% year-over-year to $2.19 billion, versus expectations for $2.14 billion.
“We are continuing to make significant strategic progress for long-term success even as we work through seasonal and cyclical market factors, and we feel very good about our business momentum,” said CEO Jim Prokopanko in a statement.
Potash results were hurt because of reticence by buyers. Net potash sales fell 27% year over year.
“The potash segment’s operating results reflect delayed purchases, as buyers remained cautious,” Prokopanko said. “While the seasonal lull and risk aversion slowed sales in the third fiscal quarter, we continue to expect near-record global shipments in 2012 and a very strong North American spring season.”
