(Boursier.com) — The Mosaic Company, the American phosphate and potash giant, disappointed in the third quarter, but its growth remains substantial. Over the period, adjusted earnings per share represented $3.22, against consensus $3.44 and $1.35 a year earlier. Revenue came in at $5.35 billion, 10% below consensus, versus a performance of $3.42 billion a year earlier. The fertilizer designer suffered from the impact of Hurricane Ian and the slowdown in price increases on certain products. Mosaic has however recorded record sales in the first nine months of this year and speaks of “favorable fundamentals” by the end of the year and in 2023. The gross margin rate in the third quarter was 28% against 25% in the same quarter last year. Costs rose to $125 million from $98 million a year ago with transformation efforts. Mosaic expects to meet its $1 billion long-term debt reduction goal.
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