Mosaic reports quarterly loss and lowers phosphate outlook due to rising sulfur prices

Mosaic reported a net loss of USD 258 million for the first quarter of 2026, compared to net income of USD 238 million a year earlier. The loss reflects higher raw material costs and restructuring charges related to Brazilian operations. Diluted loss per share was USD 0.81, and adjusted EBITDA was USD 416 million.

Mosaic stated that results were significantly impacted by USD 442 million in charges from idling its Araxá and Patrocínio facilities in Brazil, including asset write-downs, severance, and accelerated depreciation. The company also noted that record sulfur prices and limited ammonia supplies are reducing phosphate margins worldwide. With sulfur prices surpassing USD 1,200 per tonne, Mosaic withdrew its full-year phosphate production guidance, initiated partial curtailments at its Louisiana and Bartow operations, and reduced output in Brazil.

Despite lower earnings, Mosaic reported stable potash market fundamentals, supported by strong North American demand and record imports by China and Brazil in the first quarter. Potash operating earnings increased to USD 177 million from USD 157 million a year ago, driven by higher prices. The company maintained its 2026 potash production guidance at about 9 million tonnes and reduced planned capital expenditures for the year to USD 1.25 billion by deferring less urgent projects.