MOS Mosaic Company

   By Maria Armental 
 

Mosaic Co. (MOS) on Monday raised its annual guidance following better-than-expected third-quarter results.

Overall, Mosaic reported third-quarter profit of $247.5 million, or 64 cents a share, compared with $227.5 million, or 65 cents a share, a year earlier.

The most recent period included a 10% increase in shares outstanding.

Net sales surged to $2.93 billion, from $1.98 billion a year earlier, driven by the acquisition of Vale Fertilizantes and higher average sales prices in all operating segments.

Analysts surveyed by FactSet projected Mosaic earning a profit of 61 cents a share on $2.91 billion in revenue.

Chief Executive Joc O'Rourke said the company expects momentum to continue and said it now expects $1.80 to $2 a share in adjusted profit, up from its earlier view of $1.45 to $1.80 a share.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

November 05, 2018 17:07 ET (22:07 GMT)

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