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Mosaic oper profit falls as international distributors delay purchase
January 4, 2013 / 12:11 PM / 5 years ago

Mosaic oper profit falls as international distributors delay purchase

Jan 4 (Reuters) - Mosaic Co’s quarterly operating profit fell 30 percent as international distributors delayed buying potash and phosphate to avert the price risk associated with the fertilizer producer’s negotiations with China and India.

“International shipments, however, were impacted by prolonged contract negotiations in India and China,” Chief Executive Jim Prokopanko said in a statement.

Operating earnings for the second quarter fell 30 percent to $560 million, from $797 million a year earlier.

The company reported a net income, including tax benefits, of $629 million, or $1.47 per share, for the second quarter ended on Nov. 30, up from $624 million, or $1.40 per share, a year earlier.

Revenue declined 17 percent to $2.5 billion.

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