UPDATE: Mosaic Posts Drop In Q1 Profit
Mosaic Co (NYSE: MOS) reported a drop in its first-quarter profit.
Mosaic's quarterly profit declined to $429.4 million, or $1.01 per share, versus $526 million, or $1.17 per share, in the year-earlier period. Excluding one-time items, Mosaic earned $1.03 per share.
Its sales dropped to $2.5 billion from $3.1 billion. However, analysts were expecting earnings of $1.16 per share on sales of $2.66 billion.
Mosaic shares dropped 1.74% to $57.00 in after-hours trading.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.