As Mosaic's New Potash Mine Lowers Unit Costs, Higher Near-Term Fertilizer Prices Will Boost Profits
Mosaic reported solid 2018 results, as adjusted EBITDA grew 68% year on year to $2.0 billion, driven primarily by higher fertilizer prices in all three segments. Management expects further growth in 2019, with guidance of an adjusted EBITDA range of $2.2 billion to $2.4 billion, which is slightly above our expectations. However, management also expects higher capital expenditures over the next few years due to new investments in its Florida phosphate operations. Having updated our model to refle...Mosaic is a producer and marketer of concentrated phosphate and potash crop nutrients. The company is organized into three reportable business segments: Phosphates, which owns and operates mines and production facilities in Florida that produce concentrated phosphate crop nutrients and phosphate-based animal feed ingredients, and processing plants in Louisiana that produce concentrated phosphate crop nutrients; Potash, which mines and processes potash in Canada and the United States and sells potash in North America and internationally; and Mosaic Fertilizantes, which produces and sells concentrated phosphates crop nutrients, phosphate-based animal feed ingredients and potash fertilizer.
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