Mosaic Co MOS shares are trading higher by 5.61% to $52.72 during Tuesday’s session after the company reported third-quarter earnings results.
Mosaic reported quarterly earnings of $3.22 per share which missed the analyst consensus estimate of $3.42. This is a marked increase over earnings of $1.35 per share from the same period last year.
The company also reported quarterly sales of $5.35 billion which missed the analyst consensus estimate of $5.76 billion by 7%. This sales figure represents a 56% percent increase over sales of $3.42 billion in the same period last year.
Mosaic also highlighted year-to-date capital return totaled $1.8 billion, including $1.6 billion of share repurchases.
“Mosaic delivered record sales in the first nine months of 2022, and we expect favorable fundamentals as we conclude the year and look forward to 2023,” said Joc O’Rourke, President and CEO.
“We are returning capital to shareholders while strengthening the balance sheet and investing in the business to generate strong results throughout the cycle.”
According to data from Benzinga Pro, MOS has a 52-week high of $79.28 and a 52-week low of $33.59.
Image and article originally from www.benzinga.com. Read the original article here.