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Commodities & Metals

Mosaic Proves Potash & Fertilizer Are Back To Poop (MOS, POT, IPI)

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By Douglas A. McIntyre Updated Published
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Mosaic_logoMosaic Co. (NYSE: MOS) is being slaughtered this morning. Any hopes that agriculture was going to be cool again are gone. The phosphate and potash producer’s earnings missed the bar by what might as well be a long shot.  Earnings were $2.65 per share on $4.32 billion in revenue.  Analysts expected earnings of $2.94 on $4.11 billion in revenue, according to First Call.  While these numbers are up massively from last year, it isn’t indicative of the wild growth of earlier that investors.

Mosaic is cutting production because global fertilizer and potash demand is cooling.  Mosaicshares are trading at a 52-week low, now down 30% at $46.80.  Its52-week trading range is $48.72 to $163.25.

The carnage is not at all isolated.  Potash Corp. of Saskatchewan, Inc.(NYSE: POT) is down a whopping 20% to $102.40, which is barely aboveits 52-week lows of $97.36.  Intrepid Potash, Inc. (NYSE: IPI) is downover 25% at $21.75, well under its post-IPO trading range of $26.22 to$76.24.

For a long time, fertilizer, potash, and agriculture was very cool.  Now, it is back to just what it smells like.  It’sbeing flushed down the drain, too.

Jon C. Ogg
October 2, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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