Mosaic Ups Guidance on Strong Sales and Margins

Mosaic Co

upped their guidance for the fourth quarter, now seeing EPS in the range of 83 cents to 88 cents versus previous guidance of 60 cents. The company said it expects phosphates volume and phosphates and potash margins will exceed previously provided guidance ranges, and that potash volumes will be at the high end of guidance range. Expectations are now for fourth quarter 2014 earnings per share in the range of $0.93 to $0.98 per share, including approximately $0.10 in net benefits from notable items. The notable items include early estimates of discrete tax benefits, primarily related to the acquisition of a Brazilian distribution business, which may change. Mosaic expects earnings, excluding notable items, to be in the range of $0.83 to $0.88 per share. Phosphates margins and sales volumes topped previous company forecast ranges, while potash volumes were at the top end of the range, Mosaic said. Shares of MOS are trading higher by nearly 6 percent in pre-market trading at 49. Shares of competitors Potash Corp./Saskatchewan

and Agrium Inc.

are also up in sympathy.