mosaic co/the (MOS) Key Developments
The Mosaic Company Announces Executive Appointments
Aug 15 14
The Mosaic Company announced that its Board of Directors has appointed Mark J. Isaacson as Vice President, General Counsel and Corporate Secretary. Isaacson has held the role on an acting basis since May, when Richard L. Mack was named the company's Chief Financial Officer. Isaacson has joined Mosaic's Senior Leadership Team. Isaacson, 52, joined Mosaic upon its formation in 2004 as its Chief Phosphates Counsel before being promoted to Vice President, Associate General Counsel and Chief Compliance Officer in 2011--and then to his most recent Vice President, Acting General Counsel and Corporate Secretary role in June 2014. The company announced two other recent senior management changes. Walter F. Precourt III, as Senior Vice President -- Potash Operations, has joined the Senior Leadership team, and Mark E. Kaplan has been promoted to Senior Vice President -- Public Affairs. Kaplan, 46, joined Mosaic in 2007, leading the Phosphate Public Affairs team before his promotion to Vice President -- Public Affairs in 2011. Kaplan also provides executive oversight to Mosaic's land development and mine permitting organizations. Precourt, 50, Senior Vice President -- Potash, joined Mosaic in 2009, leading the Environmental, Health and Safety organization before his promotion to lead the Potash Business Unit in 2012.
The Mosaic Company Declares Quarterly Dividend, Payable on September 18, 2014
Aug 14 14
The Mosaic Company announced that its board of directors declared a quarterly dividend of $0.25 per share on the company's common stock. The dividend will be paid on September 18, 2014, to stockholders of record as of the close of business on September 4, 2014.
The Mosaic Company Announces Management Changes
Jul 31 14
The Mosaic Company announced that Jim Prokopanko will return from a previously announced medical leave and resume his duties as President and Chief Executive Officer on August 4, 2014. Mr. Stranghoener, who has announced his intention to retire at the end of 2014, will serve as Executive Vice President--Strategy and Business Development.
The Mosaic Company Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year of 2014; Provides Sales Guidance for the Third Quarter of 2014
Jul 31 14
The Mosaic Company reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, net sales were $2,440.2 million against $2,618.7 a year ago. Operating earnings was $403.2 million against $525.7 million a year ago. Operating earnings decreased as higher phosphate volumes were more than offset by significantly lower realized potash prices. Earnings from consolidated companies before income taxes were $333.1 million against $551.1 million a year ago. Earnings from consolidated companies were $250.4 million against $424.8 million a year ago. Net earnings including no controlling interests were $248.2 million against $430.0 million a year ago. Net earnings attributable to the company were $248.4 million or $64 per diluted share against $429.8 million or $1.01 per basic and diluted share a year ago. Notable items negatively impacted earnings by $45 million, or $0.06 per share. Net cash provided by operating activities was $796.3 million against $982.3 million a year ago. Capital expenditures were $214.0 million against $374.0 million a year ago.
For the six months, net sales were $4,426.5 million against $4,931.2 million a year ago. Operating earnings was $669.8 million against $1,016.8 million a year ago. Earnings from consolidated companies before income taxes were $551.5 million against $1,062.4 million a year ago. Earnings from consolidated companies were $471.4 million against $802.4 million a year ago. Net earnings including no controlling interests were $465.9 million against $809.9 million a year ago. Net earnings attributable to the company were $466.0 million or $1.18 per diluted share against $809.6 million or $1.90 per basic and diluted share a year ago. Net cash provided by operating activities was $1,423.3 million against $1,561.7 million a year ago. Capital expenditures were $488.9 million against $741.5 million a year ago.
For the full year of 2014, the effective tax rate is expected to be in the mid to upper 20% range, excluding any discrete tax items. The tax rate is being driven higher by decision to repatriate cash from Canada, which resulted in higher noncash expenses. Capital expenditures and equity investments, including the Ma'aden phosphate joint venture, are expected to be in the range of $1.0 to $1.2 billion, down $200 million due to deferral of expenditures into 2015.
For the third quarter, the company expects total sales volumes for the Phosphates segment to range from 3.3 to 3.6 million tonnes, compared with 2.7 million tonnes last year. MOS' realized DAP price, FOB plant, for the quarter is estimated to range from $440 to $470 per tonne. Total sales volumes for the Potash segment are expected to range from 1.8 to 2.0 million tonnes, compared with 1.4 million tonnes last year. The company's realized MOP price, FOB plant, for the quarter is estimated to range from $275 to $295 per tonne.
The Mosaic Company Presents at Piper Jaffray Global Agriculture & Animal Health Investor Day, Aug-05-2014
Jul 29 14
The Mosaic Company Presents at Piper Jaffray Global Agriculture & Animal Health Investor Day, Aug-05-2014 .