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Mosaic provides further detail on impact of Hurricane Irma

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World Fertilizer,

Mosaic Co. has released a statement providing an update on its third quarter business performance in connection with Hurricane Irma.

Before the hurricane, Mosaic claims that profitability metrics were originally tracking ahead of the third quarter guidance, with both good demand and strong operational performance.

Whilst the company says it was lucky not to have endured significant damages from the hurricane, it does expect approximately 250 000 – 350 000 t of lower production in September. Added to the damage at the company’s Bartow warehouse, Mosaic claims that this could result in a loss of up to 400 000 t of finished phosphate product.

The company will provide further details on the hurricane’s financial impact in the month of September as part of its third quarter earnings release.

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