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Mosaic Company
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Updated Nov 4, 2026
Mosaic Q3 2026: Sulfur Supply Shock Collapses Phosphate Margins as Geopolitical Disruption Accelerates Structural Input Cost Crisis
Mosaic recorded a net loss of $72.1 million in Q3 2026, a $483.5 million swing from $411.4 million net income in Q3 2025, as sulfur costs rose 163% year-over-year to $715 per long ton, rendering the Phosphate segment's gross margin negative at -$147.8 million versus positive $143.9 million in the prior year. The root cause is not cyclical demand weakness but a supply-side shock: Middle East conflict and attacks on Russian and Ukrainian commodity infrastructure have restricted sulfur and ammonia exports globally, driving input costs beyond the offsetting benefit of a 14% phosphate selling price increase. Mosaic responded by curtailing production at additional North American and Brazilian phosphate facilities, reducing its processed phosphate operating rate to 52% in Q3 2026 from 68% in Q3 2025, compounding the volume losses already created by customer affordability constraints.
Tone: defensiveRevenue
$12.1B
MOS 10-K · FY 2025
Employees
13,249
Revenue FY2024
$11.1B
Founded
2004
Profile
MOS 10-K Item 1 · Feb 27, 2026Mosaic is the world's leading producer and marketer of concentrated phosphate and potash crop nutrients, operating mines and processing facilities across North America, Brazil, and Peru. The company operates through three reportable segments — Phosphate, Potash, and Mosaic Fertilizantes — serving customers in approximately 40 countries. It is also the largest fertilizer production and distribution company in Brazil.
Read filing description ↓ Collapse description ↑
The Mosaic Company is the world's leading producer and marketer of concentrated phosphate and potash crop nutrients. Through our broad product offering, we are a single source supplier of phosphate- and potash-based crop nutrients and animal feed ingredients. We serve customers in approximately 40 countries. We are the second largest integrated phosphate producer in the world and one of the largest producers and marketers of phosphate-based animal feed ingredients in North America and Brazil. We are the leading fertilizer production and distribution company in Brazil. We mine phosphate rock in Florida, Brazil and Peru. We process rock into finished phosphate products at facilities in Florida, Louisiana and Brazil. We are typically one of the top four global potash producers in the world. We mine potash in Saskatchewan and New Mexico. We have other production, blending or distribution operations in Brazil, China, India and Paraguay. Our operations serve the top four nutrient-consuming countries in the world: China, India, U.S. and Brazil. We are organized into three reportable business segments: Phosphate, Potash and Mosaic Fertilizantes. We account for approximately 10% of estimated global annual phosphate production and approximately 12% of estimated global annual potash production. We account for approximately 72% of estimated North American annual production of concentrated phosphate crop nutrients and approximately 34% of estimated North American annual potash production.
Primary products
- Diammonium Phosphate (DAP)
- Monoammonium Phosphate (MAP)
- MicroEssentials
- Muriate of Potash (MOP)
- K-Mag
- Biofos
Business segments
End markets
Geographies
“We believe that we are a low-cost integrated producer of phosphate-based crop nutrients, due in part to our scale, vertical integration and strategic network of production and distribution facilities.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Consolidated net sales increased from $11.1 billion in 2024 to $12.1 billion in 2025, driven by higher volumes and revenues across all three segments, particularly Mosaic Fertilizantes and Potash.
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