The Mosaic Company has reported a net loss of US$273 million and diluted loss per share of US$0.86 for the 2Q26. Adjusted EBITDA was US$407 million and adjusted EPS was US$0.13.
“Business conditions remained challenging in the 2Q26, driven primarily by sulfur availability and affordability challenges," said President and CEO Bruce Bodine. "At Mosaic, we are focused on the things we can control. We've reduced phosphate production, cut costs, reduced capital expenditures and strengthened our financial flexibility while maintaining the ability to resume full production rates when markets improve. We also continue to reallocate underperforming capital in pursuit of stronger shareholder returns."
Mosaic reported a 2Q26 net loss of US$273 million, compared to net income of US$411 million in 2Q25. 2Q26 results were negatively impacted by US$351 million of pre-tax notable items, primarily consisting of US$162 million in mark-to-market adjustments related to the value of Mosaic’s holding of Ma’aden shares, US$69 million of non-cash project write-offs, and US$49 million related to foreign currency transactions.
2Q26 adjusted EBITDA totalled US$407 million, down from US$566 million in 2Q25. Results primarily reflected lower sales volumes and higher raw material costs in Phosphate and Mosaic Fertilizantes, which were partially offset by higher phosphate and potash prices.
Selling, general, and administrative (SG&A) expenses were US$132 million in 2Q26, down from US$167 million in the prior year period, reflecting lower bad debt expenses and the impact of cost saving initiatives. For the full year, SG&A is now expected to be in the range of US$510 - US$530 million.
The effective tax rate for 2Q26 was 11.2%. The adjusted effective tax rate was 4.5% excluding the impacts from notable items. Cash taxes paid were US$45 million in 2Q26.
Cash flow from operations totalled US$167 million in 2Q26, compared to US$610 million in 2Q25. The decrease was primarily driven by lower adjusted EBITDA and customer prepayments in Brazil. Free cash flow in 2Q26 was US$153 million compared to US$305 million in 2Q25, reflecting the timing of capital expenditures. Free cash flow is expected to improve through the remainder of the year because of lower capital expenditures and an expected release of working capital, primarily in Brazil.
Read the full 2Q26 results listing here.