| Imagery Source: The Mosaic Company |
| Information Source: The Mosaic Company |
- Net income of $411 million and adjusted EBITDA(1) of $806 million in the third quarter of 2025
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- Third quarter phosphate production volumes of 1.7 million tonnes mark the third consecutive quarter of improvement. Production volumes for the trailing three-month period ending in October totalled approximately 1.8 million tonnes.
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- Potash production volumes are trending toward a record level in 2025
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- Mosaic Fertilizantes’ performance remains strong; operating income of $96 million increased 71% and adjusted EBITDA(1) at $241 million increased 190% versus the prior year quarter
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- Completion of the Patos de Minas and Taquari transactions, following the close of the quarter, generated $63 million in immediate aggregate proceeds
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| The Mosaic Company (NYSE: MOS) reported net income of $411 million and diluted earnings per share (EPS) of $1.29 for the third quarter of 2025. Adjusted EBITDA(1) was $806 million, and adjusted EPS(1) was $1.04 for the quarter. |
| “Mosaic generated strong earnings despite operational and market challenges in the third quarter,” said President and CEO Bruce Bodine. “Our business in Brazil continued to perform well while navigating the ongoing credit issues in Brazilian agriculture, and we delivered solid performance in our potash business, as strong global demand pushed prices higher. In phosphates, our work to restore asset health has led to three consecutive months of higher production, and now we are focused on driving further improvements and sustainably higher operating rates. With global market access as a strategic advantage, we can capitalise on constructive agricultural and fertiliser market trends and adapt to shifting market dynamics.” |
| Consolidated Results: |
| Net income of $411 million in the third quarter of 2025 was positively impacted by notable items totaling $135 million, pre-tax, mainly due to a $308 million mark-to-market unrealized gain on the value of the Ma'aden shares (worth approximately $1.9 billion USD at the end of third quarter) partially offset by $173 million of losses driven by a $75 million loss on the treatment of our Taquari mine as an asset held for sale. |
| Adjusted EBITDA(1) of $806 million in the third quarter of 2025 increased by 80% from the prior year and was driven primarily by the continued outperformance of Mosaic Fertilizantes, a significant increase in phosphate stripping margins and higher potash prices versus the prior year. |
| Third quarter selling, general and administrative (SG&A) expense was $126 million, down from $167 million in the second quarter and from $148 million in the same quarter of the prior year, primarily driven by bad debt expenses reported in each of the comparative periods. |
| The effective tax rate for the third quarter of 2025 was 29.3%. The adjusted effective tax rate was 25.9% excluding one-time net favourable impacts from notable tax items. Cash taxes paid were $89 million. See the table included in the non-GAAP financial measures section of this press release for a reconciliation of the adjusted effective tax rate. |
| Cash flow from operations was $229 million in the third quarter of 2025 versus $313 million in the same quarter of the prior year, a reduction driven primarily by higher working capital as a result of the timing of shipments, higher prices and volumes of product inventories in Brazil, and higher inventories of phosphate rock to support future production plans. Assuming the reversal of these effects, cash flow from operations is expected to improve in the fourth quarter. Capital expenditures for the third quarter were $364 million, up from $241 million in the same quarter of the prior year, due to higher sustaining capex in Phosphate. Free cash flow(1) in the third quarter of 2025 was $(135) million compared to $72 million in the same quarter last year. |
| In October, Mosaic completed the sale of the Patos de Minas mine for $111 million, with $51 million collected at closing and the remaining proceeds to be received over four years. |
| In November, Mosaic completed the sale of its Taquari potash mine for $27 million. The transaction is expected to eliminate capital investments exceeding $25 million and asset retirement obligations of $22 million. |
| Mosaic continues to engage with interested parties to advance strategic alternatives for its Carlsbad, New Mexico, potash mine. In Brazil, Mosaic expects to complete the studies to better define the Niobium opportunity at the Patrocinio and Araxa phosphate operations early next year and to re-engage interested parties to discuss strategic alternatives in the first half of 2026. |
| Mosaic paid a $0.22 per share dividend in the third quarter, equivalent to $70 million returned to shareholders. |
| For the full document, click the link below |
| The Mosaic Company |
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