Mosaic shares plummet
Written on October 3, 2008
Shares of Mosaic Co. dove Thursday, a day after it missed first-quarter earnings estimates and said it would trim its production forecast.
Shares of the Plymouth company, were down over 39 percent, to $40.62 on Thursday, after closing the previous day at $67.51 .
For the first-quarter Mosaic (NYSE: MOS) said late Wednesday it earned $1.18 billion, or $2.65 per share, compared with profit of $305.5 million, or 69 cents per share, during the same period a year ago.
Revenue was up significantly, to $4.32 billion from $2 billion faxless payday loans.
Analysts polled by Thomson Financial were expecting $2.94 per share on revenue of $4.11 billion.
The company recorded strong sales in its phosphates segment, which more than doubled to $2.6 billion, as well as its potash segment, which also doubled to $976.4 million.
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