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UPDATE: Mosaic Q3 Profit Declines 70%

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Mosaic Co (NYSE: MOS) reported a 70% drop in its third-quarter earnings.

Mosaic's quarterly profit fell to $124.4 million, or $0.29 per share, from $417.4 million, or $0.98 per share, in the year-ago period.

Its net sales fell 28% to $1.91 billion. However, analysts were expecting earnings of $0.55 per share on sales of $1.97 billion.

Mosaic shares fell 1.82% to $45.88 in pre-market trading.

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