May 7, 2018 / 8:37 PM / 6 months ago

BRIEF-The Mosaic Company Reports Q1 EPS $0.11

May 7 (Reuters) - Mosaic Co:

* Q1 SALES $1.9 BILLION VERSUS $1.6 BILLION

* NET SALES IN POTASH SEGMENT TOTALED $404 MILLION FOR Q1, DOWN FROM $414 MILLION LAST YEAR

* NET SALES IN PHOSPHATES SEGMENT WERE $866 MILLION FOR Q1, UP FROM $839 MILLION LAST YEAR

* CEO SAYS "WE SAW STRONG FUNDAMENTALS IN Q1, AND WE EXPECT THAT POSITIVE MOMENTUM TO CONTINUE"

* FOR PHOSPHATES, Q1 AVERAGE FINISHED PRODUCT SELLING PRICE WAS $431 PER TONNE, COMPARED TO $369 PER TONNE A YEAR AGO

* Q1 AVERAGE SELLING PRICE FOR POTASH WAS $239 PER TONNE, UP FROM $210 PER TONNE A YEAR AGO

* QTRLY PHOSPHATES SEGMENT TOTAL FINISHED PRODUCT SALES VOLUMES WERE 1.9 MILLION TONNES, DOWN FROM 2.3 MILLION

* MOSAIC - INCREASED FY ADJUSTED EPS GUIDANCE TO REFLECT IMPROVING MARKET CONDITIONS AND STRONG OPERATIONAL PERFORMANCE ACROSS BUSINESS UNITS

* POTASH SEGMENT TOTAL SALES VOLUMES FOR Q1 WERE 1.7 MILLION TONNES, DOWN FROM 2.0 MILLION TONNES LAST YEAR

* SEES Q2 POTASH SALES VOLUMES 2.1 MILLIONS OF TONNES - 2.4 MILLIONS OF TONNES

* IN POTASH SEGMENT, RAIL LOGISTICAL ISSUES HAVE ALREADY IMPACTED Q2

* MOSAIC - QTRLY PHOSPHATES SEGMENT TOTAL FINISHED PRODUCT SALES VOLUMES REFLECT IDLING OF PLANT CITY CONCENTRATES FACILITY, DELAYED PLANTING IN N. AMERICA

* SEES Q2 PHOSPHATES SALES VOLUMES 2.1 MILLIONS OF TONNES - 2.4 MILLIONS OF TONNES

* SEES FY 2018 CAPITAL EXPENDITURES $900 MILLION - $1,100 MILLION

* MOSAIC - IF RAIL LOGISTICAL ISSUES CONTINUE, Q2 POTASH VOLUMES TO BE NEGATIVELY IMPACTED

* SEES 2018 ADJUSTED EARNINGS PER SHARE $1.20 - $1.60 PER SHARE

* MOSAIC - QTRLY ADJUSTED EARNINGS NEGATIVELY IMPACTED BY LATE SPRING AND OTHER WEATHER RELATED ISSUES, INCLUDING UNDERPERFORMANCE OF CANADIAN RAIL PROVIDERS

* SEES FULL YEAR 2018 SALES VOLUMES FOR POTASH 8.2 MILLIONS OF TONNES - 9.0 MILLIONS OF TONNES

* SEES FY 2018 SALES VOLUME (FINISHED PRODUCT) OF PHOSPHATES 8.2 MILLIONS OF TONNES - 9.0 MILLIONS OF TONNES

* MOSAIC - Q1 EPS INCLUDED NEGATIVE IMPACT OF $0.09/SHARE RELATED TO NON-CASH CURRENCY TRANSLATION CHARGES, COSTS RELATED TO VALE FERTILIZANTES DEAL

* HAVE PREPAID $300 MILLION IN DEBT SINCE YEAR-END AND INCREASED TARGET TO PAY DOWN $500 MILLION IN LONG TERM DEBT THIS YEAR

* MOSAIC DOES NOT EXPECT TO PAY MATERIAL CASH TAXES IN 2018

* "DELAYS IN NEW FERTILIZER SUPPLY COMING TO MARKET, AS WELL AS STRONG DEMAND AND IMPROVING FARM ECONOMICS BODE WELL FOR MOSAIC'S FUTURE" Source text for Eikon: Further company coverage:

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