The Mosaic Company (MOS) Q2 2026 earnings summary

Executive summary

• Q2 2026 reported a net loss of $273 million, with diluted EPS of $(0.86) and adjusted EBITDA of $407 million, reflecting lower sales volumes, higher input costs, and significant asset impairments, including $351 million in notable items and $482 million in related charges.

• Revenues were $2.82–$2.824 billion, down 6% year-over-year, with gross margin declining 59% to 8% of sales.

• Phosphate and Mosaic Fertilizantes segments posted operating losses, while Potash remained profitable.

• Strategic actions included the sale of the Carlsbad potash mine, divestiture of Araxá, and idling of Patrocínio mining activities in Brazil.

• Cost controls, capital reallocation, and strong liquidity measures were implemented to offset market headwinds.

Financial highlights

• Adjusted EBITDA for Q2 2026 was $407 million, with a consolidated operating loss of $35.5–$36 million.

• Net sales for Q2 were $2.8–$2.82 billion; gross margin was $214.7 million (8% of sales).

• Phosphate: $1.25–$1.246 billion net sales, $104 million operating loss, $128 million adjusted EBITDA.

• Potash: $650 million net sales, $195 million operating earnings, $278 million adjusted EBITDA.

• Mosaic Fertilizantes: $1.03–$1.034 billion net sales, $41 million operating loss, $60 million adjusted EBITDA.

Outlook and guidance

• Q3 2026 phosphate sales volumes expected at 1.1–1.4 million tonnes, DAP prices $820–$840/tonne.

• Q3 2026 potash sales volumes expected at 2.0–2.2 million tonnes, MOP prices $270–$290/tonne.

• 2026 capital expenditures guidance reduced to $1.2 billion; SG&A for the year expected at $510–$530 million.

• Potash production for 2026 expected at 9 million tonnes, with volumes weighted to the second half.

• Management expects liquidity and credit facilities to be sufficient for operational and capital needs over the next 12 months.