Stock Market News
The Mosaic Company Reports Q2 Earnings Miss, Authorizes $2B Share Repurchase Plan
2022.08.02 01:38
The Mosaic Company Reports Q2 Earnings Miss, Authorizes $2B Share Repurchase Plan
By Davit Kirakosyan
The Mosaic Company (NYSE:MOS) reported its Q2 results, with EPS of $3.64 coming in worse than the consensus estimate of $3.99. Shares were trading more than 2% lower after-hours.
Revenue grew 92% year-over-year to $5.4 billion, missing the consensus estimate of $5.68 billion. The gross margin in Q2 was 34%, compared to 27% in Q2/21.
The company has returned $1.1 billion to shareholders during H1/22, including $1.0 billion of share repurchases. The company announced that its Board of Directors has approved a new $2.0 billion share repurchase authorization.
