UPDATE: Mosaic Posts Lower Q4 Profit

The Mosaic Co

reported a drop in its fiscal fourth-quarter net earnings. Mosaic's quarterly net profit declined to $485.9 million, or $1.14 per share, versus $507.3 million, or $1.19 per share, in the year-earlier quarter. Its operating earnings dropped to $620.7 million from $670.8 million. Mosaic's net sales declined to $2.69 billion from $2.82 billion. However, analysts were estimating earnings of $1.12 per share on sales of $2.64 billion. Mosaic shares gained 0.66% to $56.50 in pre-market trading.