Mosaic Company (The) (MOS) FY2024 10-K Annual Report
Mosaic Company (The) (MOS) 10-K annual report for fiscal year 2024, filed with SEC EDGAR on Mar 3, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Mosaic Company (The) FY2024 10-K Analysis
Business Overview
- • Core business: Production and marketing of concentrated phosphate and potash crop nutrients globally
- • New emphasis: Exchanged 25% interest in Ma’aden Wa’ad Al Shamal Phosphate Company for shares in Saudi Arabian Mining Company (Ma’aden) as of Dec 24, 2024
- • Strategic shift: Transitioned potash mining from Esterhazy K1/K2 shafts closed June 2021 to K3 shaft, reflecting operational adjustment due to brine inflows
- • Notable quantitative: Maintains 75% economic interest in Miski Mayo Phosphate Mine, Peru; operates five phosphate mines and chemical plants plus a potash mine in Brazil under Mosaic Fertilizantes
- • Unusual fact: Latest filing notably incorporates numerous governance, compensation, and inducement plan amendments dated late 2023 and early 2024 documents filed with SEC
Management Discussion & Analysis
- • Revenue $11.12B in 2024, down 19% YoY (from $13.70B in 2023), driven by lower sales volumes and prices across segments
- • Operating earnings $621.5M, down 54% YoY (from $1.34B in 2023); gross margin 13.6% vs 16.1% in 2023
- • Best performing segment: Mosaic Fertilizantes with gross margin up 92% to $406.6M despite sales drop; worst: Potash with gross margin down 47% to $643.2M, sales down 26%
- • Share repurchases of $235.4M for 7.9M shares; no dividend or capex figures disclosed in excerpt
- • 2025 risk: Impact of US tariffs on Canadian potash paused, tariffs unlikely to significantly affect Potash segment; foreign currency losses and commodity price volatility remain key risks
Risk Factors
- • EPA and Florida DEP regulatory risk with Florida Clean Water Act 404 permitting program invalidated, causing potential delays in mine permitting
- • Geopolitical risk from Russia-Ukraine conflict causing volatile pricing and supply disruption of ammonia, sulfur, natural gas inputs
- • Brine inflow at Esterhazy mine led to closure of K1/K2 potash shafts, risking production and requiring costly management
- • Competitive risk from fertilizer commodity pricing pressures limiting pass-through of input cost inflation, impacting margins
- • Minority ownership in Ma’aden and other joint ventures with limited control and uncertain cash distributions affecting earnings
Mosaic Company (The) FY2024 Key Financial MetricsXBRL
Revenue
$11.1B
▼ -18.8% YoY
Net Income
$175M
▼ -85.0% YoY
Gross Margin
13.6%
▼ -255bp YoY
Operating Margin
5.6%
▼ -418bp YoY
Net Margin
1.6%
▼ -693bp YoY
ROE
1.5%
▼ -796bp YoY
Total Assets
$22.9B
▼ -0.5% YoY
EPS (Diluted)
$0.55
▼ -84.3% YoY
Operating Cash Flow
$1.3B
▼ -46.0% YoY
Source: XBRL data from Mosaic Company (The) FY2024 10-K filing on SEC EDGAR. All figures in USD.
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