Mosaic falls on cutting phosphate sales, production forecasts

Shares of agrichemicals company Mosaic MOS.N fall 5.2% to $34.50 premarket

Company expects Q2 phosphate sales volumes to be between 1.5 million tonnes and 1.6 million tonnes vs prior forecast of 1.7 million tonnes to 1.9 million tonnes

MOS sees 2025 phosphate production volume to be between 7.0 million tonnes and 7.3 million tonnes, revised down from 7.2 million tonnes to 7.6 million tonnes

Company reaffirms Q2 potash sales volumes of between 2.3 million tonnes and 2.5 million tonnes; 2025 potash production volumes forecast remains unchanged at 9.0 million tonnes to 9.4 million tonnes

"As the remaining maintenance and reliability enhancement work will be completed in June and early July, Mosaic is increasingly confident in its production plans for the second half of the year," the company says

Up till last close, stock up 48.1% YTD