Fertilizer producer Mosaic missed Wall Street estimates for third-quarter profit on Tuesday, hurt by production snags, and said its Chief Financial Officer Clint Freeland would retire.The company also appointed Luciano Siani Pires as its new Chief Financial Officer, who will start from Jan. 1. Pires succeeds Freeland who is retiring from his role as executive vice president and CFO, but will continue as a senior advisor until July 1.
His appointment follows the tenth successive quarter where the Tampa, Florida-based company failed to beat market estimates, according to data compiled by LSEG. Global potash prices have been pressured as supplies are back up to the levels seen before the invasion of Ukraine, as top producers Russia and Belarus sidestep Western sanctions by increasing shipments to Asia and South America.
The company reported adjusted earnings of 34 cents per share for the quarter ended Sept. 30, compared with analysts’ average estimate of 54 cents per share.Ivanhoe’s Friedland says fears for China on US tariffs overblown