ALSO IN EARNINGS
- Greek Cabinet Approves EU, IMF Bailout Bill
- We're Not Greece: Italian Prime Minister Monti
- Private Homebuilders in the US: Dead Men Walking
- Dividend Payout Could Hit Record Amount This Year
- With Investors So Bullish, Stock Pullback Must Be Ahead
- Obama Likely to Call for Cutting Top Corporate Tax Rate
- New York Fashion Week Fall 2012
- NetNet: Why Saving Greece Could Destroy the World
- My Funny Valentine: When Love and the Fed Collide
MOST SHARED
- We're Not Greece: Italian Prime Minister Monti
- Obama Likely to Call for Cutting Top Corporate Tax Rate
- To Play Senate Cybersecurity Bill, Cramer Likes Fortinet Stock
- Greek Cabinet Approves EU, IMF Bailout Bill
- Special Feature: Wall Street History - How Wall Street Got Its Name
- How to Trade the Turmoil in Greece
- Private Homebuilders: Dead Men Walking
- Why Cramer Likes Select Comfort Over Tempur-pedic Stock
- Cramer: 10 Earnings to Watch Next Week
- Lightning Round: Trina Solar, Zoltek, Affymax and More
MOST POPULAR
HOT ON FACEBOOK
Mosaic Quarterly Profit Skyrockets, Shares Soar
Text Size 
Crop nutrient producer Mosaic Friday posted fiscal third-quarter earnings that trounced expectations, boosted by increased worldwide demand and prices for phosphates and potash, sending shares up more than 7 percent in pre-market trade.
Mosaic [MOS
Loading...
()
] , along with its peers have benefited in recent months from a global boom in the agricultural sector, spurred by increased food demands from developing countries and a sharp increase in corn-based ethanol production in the United States.
Net income in the period ended Feb. 29, rose to $520.8 million, or $1.17 a share, from a year-ago profit of $42.2 million, or 10 cents a share.
Revenue in the period rose 68 percent to $2.15 billion.
Analysts, on average, had forecast earnings of 95 cents a share, on revenue of $1.99 billion, according to Reuters Estimates.
"We are bullish on the fundamental drivers of our sector and see this momentum continuing," said Chief Executive Jim Prokopanko, in a statement.
Last month, Canpotex, which handles potash exports from the Saskatchewan region for Potash [POT
Loading...
()
] , Agrium [AGU
Loading...
()
] and Mosaic, inked a deal to supply Indian customers with potash for $625 per ton.
The 2008 contract price is more than double the year ago contract price.
Mosaic also announced a long-term potash capacity expansion plan in Saskatchewan, Canada in response to robust global demand for the crop nutrient.
Mosaic said the new expansions, together with those announced in May 2007, are expected to increase its annual potash capacity by about 5.1 million metric tons.
Shares of Mosaic which closed Thursday at $104.52 rose to $112.25 in trade before the morning bell.
- Marketing clichés aside, sometimes diamonds are for investing.
- The ‘Fast Money’ traders weigh in on fashion related stocks from apparel to footwear.
- This list of the 10 most active cities for speed traps was compiled by Trapster.com. See if your town is there.
- This Valentine’s Day should prove a love fest for restaurants, as many couples will be dining out.
- Here’s a look at Westminster Kennel Club’s most successful breeds—and how much they cost.
- What kind of homes do celebrity couples share? Here’s our updated list. Take a look.
Data is a real-time snapshot *Data is delayed at least 15 minutes
