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The Mosaic Company is a leading producer and marketer of concentrated phosphate and potash crop nutrients, serving customers in approximately 40 countries . The company operates through three main business segments: Phosphates, Potash, and Mosaic Fertilizantes, producing and selling crop nutrients, animal feed ingredients, and industrial products . Mosaic accounts for approximately 12% of global annual phosphate production and 13% of global annual potash production .
- Potash - Operates mines and production facilities in Canada and the U.S., producing potash-based crop nutrients, animal feed ingredients, and industrial products. Sells Canadian potash outside the U.S. and Canada through Canpotex .
- Phosphates - Includes mines and production facilities in Florida and Louisiana, a 75% interest in the Miski Mayo Phosphate Mine in Peru, and a 25% interest in the Ma’aden Wa’ad Al Shamal Phosphate Company in Saudi Arabia. Produces phosphate crop nutrients and animal feed ingredients .
- Mosaic Fertilizantes - Primarily operates in Brazil, including five phosphate rock mines, four chemical plants, and a potash mine, along with distribution operations in South America .
- Crop Nutrient Blends - Offers a variety of blended crop nutrient products tailored to specific agricultural needs .
- Performance Products - Provides specialized products designed to enhance agricultural productivity and efficiency .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Bruce M. Bodine Executive | CEO and President | Director at MVM Resources International, B.V. | Joined MOS in 2004; became CEO in January 2024 and President in August 2023. Extensive experience in global mining operations and agriculture. | View Report → |
Clint C. Freeland Executive | Executive Vice President and CFO | None | Joined MOS in June 2018; promoted to EVP and CFO in November 2023. Oversees financial affairs, including finance, accounting, and treasury. | |
Karen A. Swager Executive | Executive Vice President – Operations | Director at SSR Mining Inc. | Joined MOS before 2019; oversees enterprise-wide operations, including EHS and North America Supply Chain. Previously led Supply Chain and Potash operations. | |
Luciano Siani Pires Executive | Executive Vice President and CFO | None | Joined MOS as CFO-Designate in November 2024; officially became CFO in January 2025. Former CFO of Vale S.A. and non-executive director at MOS (2018–2022). | |
Philip E. Bauer Executive | Senior Vice President, General Counsel, and Corporate Secretary | None | Joined MOS in 2007; promoted to SVP, General Counsel, and Corporate Secretary in January 2023. Extensive experience in corporate governance, M&A, and securities offerings. | |
Walter F. Precourt III Executive | Senior Vice President and Chief Administrative Officer | None | Joined MOS in 2009; oversees HR, Public Affairs, Procurement, and Enterprise Business Services. Previously led Strategy and Growth, Phosphates, and Potash operations. | |
Yijun ("Jenny") Wang Executive | Executive Vice President – Commercial | Director at Canpotex Limited | Joined MOS before 2019; oversees global commercial operations. Previously led strategic marketing and operations in China and India. | |
Cheryl K. Beebe Board | Director | Director at Packaging Corporation of America and Goldman Sachs Asset Management | Director at MOS since 2019; Chair of the Audit Committee. Former CFO of Ingredion Incorporated. | |
David T. Seaton Board | Director | Board Member at ConocoPhillips Company | Director at MOS since 2009 (with a brief gap); former Chair and CEO of Fluor Corporation. | |
Emery N. Koenig Board | Director | None | Director at MOS since 2010; Chair of the Environmental, Health, Safety, and Sustainable Development Committee. Former Vice Chair and Chief Risk Officer of Cargill, Incorporated. | |
Gregory L. Ebel Board | Chairman of the Board | President and CEO of Enbridge, Inc. | Director at MOS since 2012; extensive leadership experience in energy and infrastructure. | |
Gretchen H. Watkins Board | Director | President of Shell USA, Inc. | Director at MOS since 2020; extensive leadership experience in energy and oil industries. | |
Jo\u00e3o Roberto Gon\u00e7alves Teixeira Board | Director | Board Member at Fleury S.A. | Director at MOS since 2022; member of the Audit and EHSS Committees. Former CEO of Copersucar S.A. | |
Jody L. Kuzenko Board | Director | President and CEO of Torex Gold Resources, Inc. | Director at MOS since January 2024; member of the Compensation and Human Resources Committee and EHSS Committee. Extensive experience in mining operations and strategy. | |
Kathleen M. Shanahan Board | Director | Senior Advisor at Turtle & Hughes, Inc. | Director at MOS since January 2025; member of the Compensation and Human Resources Committee. Former CEO of Turtle & Hughes, Inc. | |
Kelvin R. Westbrook Board | Director | Board Member at Archer Daniels Midland Company, T-Mobile US Inc., and Camden Property Trust | Director at MOS since 2016; President and CEO of KRW Advisors, LLC. | |
Sonya C. Little Board | Director | None | Director at MOS since January 2025; member of the Audit Committee. Former EVP and CAO of Strategic Property Partners LLC. | |
Timothy S. Gitzel Board | Director | President and CEO of Cameco Corporation | Director at MOS since 2013; Chair of the Compensation and Human Resources Committee. Extensive experience in uranium and mining industries. |
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Given the repeated operational challenges due to hurricanes and electrical issues affecting your phosphate production, how confident are you in achieving the annualized run rate of 7.8 to 8.2 million tons by year-end, and what specific measures are you implementing to mitigate future weather-related disruptions?
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With the recent improvement in Brazilian farmer economics and activity, how sustainable do you believe this recovery is considering the past headwinds from commodity prices and credit constraints, and what strategies are you employing to mitigate ongoing credit risks in this key market?
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Despite supply from Russia and Belarus returning to pre-war levels, you mentioned that potash prices have likely hit bottom and are beginning to trend higher. What gives you confidence in a price recovery, and how would prolonged low potash prices impact your financial performance and strategic plans?
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You've initiated a strategic review of your Carlsbad New Mexico potash mine and are converting your MWSPC joint venture into Ma'aden's shares valued at $1.5 to $1.6 billion. Can you elaborate on your capital allocation priorities, and how do these actions align with your long-term growth strategy, especially in light of recent operational challenges and the need for cost reductions?
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Mosaic Biosciences is highlighted as a rapidly growing segment, covering 9 million acres and positioned as a future growth engine. Could you provide more details on its current revenue contribution and profitability, and what level of investment is required to scale this business meaningfully within your overall operations?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Canpotex | Significant potash distribution channel | Potash | 2023 Revenue: $1.3B (~9.5% of total net sales of $13.6961B )<br>Accounts Receivable as of 12/31/2023: $193.1M (~15.2% of total AR of $1,269.2M ) |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Gulf Sulphur Services (GSS) | 2023 | Completed on January 17, 2023, Mosaic acquired the remaining 50% equity interest for $41.0 million to gain full control over its sulfur supply chain, a move essential for its phosphate operations. |
Recent press releases and 8-K filings for MOS.
- Consolidated financials for Q1 2025 reported $2,621M in revenues, $339M in operating earnings, $238M in net income, and $544M in adjusted EBITDA .
- Strong market performance driven by rising fertilizer prices and robust demand in Brazil, supported by elevated phosphate and potash pricing .
- Production and cost initiatives include improved phosphate output, progress on the Esterhazy hydroflow project, and actions to normalize operating costs despite planned Q1 maintenance downtime .
- Strategic capital reallocation and cost-savings efforts are underway via asset reviews aimed at enhancing long-term profitability and market positioning .
- Detailed segment performance was highlighted for Phosphate, Potash, and Mosaic Fertilizantes, with initiatives on asset reliability and cost control amid lower production volumes in select areas .
- Forward guidance for Q2 2025 and for the full year emphasized production and sales volume improvements with updated cost targets and strategic capital allocation measures under review .
- Mosaic’s 2025 Analyst Day focused on a comprehensive strategy to normalize production and costs, reallocate capital for higher returns, and leverage its unique market access in key regions, emphasizing improvements in phosphate and potash production assets.
- The company highlighted accelerated turnaround schedules and operational enhancements—including digital transformation and optimized asset health—to drive efficiency and strengthen its competitive position.
- New growth initiatives include significant investments in R&D and the launch of innovative bioscience products targeting North America, Brazil, China, and India, aiming to unlock value and expand market share in performance crop nutrition.
- Three core business pillars were emphasized, covering commodity production (potash and phosphate), market access, and ag technology, underpinning Mosaic’s competitive market share in key segments.
- The presentation detailed forward-looking EBITDA improvement targets, including a $70+ million boost from digital initiatives and a potential $650+ million uplift from production and cost improvements by 2027.
- Mosaic outlined its financial strategy focused on maintaining an investment grade rating, pursuing $2-3 billion in capital reallocation opportunities, and balancing share buybacks with a through-cycle dividend policy.