After the bell on Nov. 3, The Mosaic Company reported its third-quarter 2026 results, which highlighted fresh challenges to the fertilizer giant’s business as conflict in the Middle East and geological events contributed to wider operating losses.
For the quarter ending Sept. 30, Mosaic reported an operating loss of $97 million, compared to a loss of $36 million in the previous quarter and operating earnings of $340 million in the same quarter last year, the company shared in its earnings report.
However, net losses moderated in the third quarter, dropping from $273 million in Q2 2026 to $72 million in Q3 2026. Additionally, the company generated $3.1 billion in net sales, compared to $2.8 billion in the previous quarter and $3.5 billion in the same quarter last year.
“We made meaningful progress during the third quarter on the actions within our control. We aligned phosphate production with the availability of affordable sulfur, reduced costs, strengthened our financial position, and continued to advance opportunities to optimize the portfolio. These actions position us to deliver stronger performance as conditions improve,” said Mosaic President and CEO Bruce Bodine in the quarterly report.
Mosaic’s phosphate and Fertilizantes businesses weigh on Q3 results
Mosaic attributed its weaker performance to macroeconomic factors, including ongoing Strait of Hormuz concerns and the Russia-Ukraine war and its impact on agricultural and energy infrastructure.
These factors dragged down several of Mosaic’s business units, including Mosaic’s phosphate and South American business (Mosaic Fertilizantes), which reported operating losses of $194 million and $21 million in the third quarter, respectively.
Phosphate sales volumes stalled at 1.4 million tons in Q3 2026, unchanged from the previous quarter but down from 1.6 million tons in Q3 2025. Mosaic expects Q4 phosphate sales volumes of between 1.3 million and 1.6 million tons. Phosphate stripping margins expected to decline further as higher-priced raw materials, including sulfur, secured in Q3 make their way into finished products.
Similarly, the company expects adjusted EBITDA for its Mosaic Fertilizantes segment to decline further in Q4. During the third quarter, Mosaic Fertilizantes generated $1.3 billion in net sales, compared to $1.6 billion in Q3 2025.
Elsewhere, the fertilizer company generated $189 million in earnings from its potash business in Q3, down slightly from $195 million in the previous quarter. Mosaic’s potash production volumes remained consistent, with the company selling 2.1 million tons in Q3 2026, compared to 2 million in the previous quarter and 2.3 million in Q3 2025.
This comes as the company is experiencing geological challenges at its Esterhazy, Saskatchewan, facility. On Nov. 3, seismic activity was reported near its Esterhazy facility, which had no impact on infrastructure, operations, or personnel, the company shared in a LinkedIn post. The Canadian government reported that the magnitude 3.5 earthquake was likely linked to mining activities.
