Fertilizer producer Mosaic (NYSE:MOS) announced that profits for the quarter fell by 18 percent, mainly due to price drops and reduced volumes of phosphate. The company earned $429.4 million, or $1.01 per share, versus $526 million, or $1.17 per share, in the same period last year. Revenue declined by 19 percent to $2.51 billion.
Shares are slightly lower in early trading.
Last month, rival Potash (NYSE:POT) announced earnings that were below analyst estimates.
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