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Get filing alertsMosaic reports Q2 2026 net loss of $273M, idles phosphate plants amid sulfur cost surge
Filed August 4, 2026 · Period ending August 4, 2026 · ~1 min read
Key Changes
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Net loss of $273M ($0.86/share) vs. $411M profit in Q2 2025; adjusted EBITDA fell to $407M from $566M year-over-year, driven by $351M in notable items including Ma'aden mark-to-market losses and asset write-offs.
Item 2.02 verify on EDGAR → -
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Completely idled Faustina phosphate facility and cut Bartow to 40% capacity; Q2 phosphate volumes fell to 1.4M tonnes from 1.5M, with operating loss of $104M and negative gross margin.
Item 2.02 verify on EDGAR → -
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Q3 sulfur contracts settled at $705/long ton, up 35% from Q2's $522, with impact primarily hitting Q4 results; idling commodity fertilizer production in Brazil due to sulfur costs.
Item 2.02 verify on EDGAR → -
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Cut 2026 capex guidance to $1.2B from $1.25B; net debt rose to $5.56B from $5.24B in Q1 as operating cash flow of $167M lagged $320M in capital spending.
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Phosphate segment recorded $69M asset write-off; Brazil segment had $26M accelerated depreciation and previously recorded $110M goodwill impairment in Q4 2025.
Exhibit 99.2 view on EDGAR →
Summary
Mosaic swung to a $273 million net loss in Q2 2026 as surging sulfur costs forced the company to idle major phosphate production capacity. The Faustina facility is completely shut down and Bartow is running at just 40% of targeted capacity, cutting Q2 phosphate volumes to 1.4 million tonnes and producing a $104 million operating loss with negative gross margins.
Sulfur contracts for Q3 settled at $705 per long ton—up 35% from Q2's $522—with the full impact hitting Q4 results. The company is also idling commodity fertilizer production in Brazil, where the segment posted a $41 million operating loss and expects Q3 EBITDA to fall below Q2 levels.
The quarter included $351 million in notable items: a $162 million mark-to-market loss on Ma'aden shares, $69 million in phosphate asset write-offs, and $49 million in foreign currency losses. Net debt climbed to $5.56 billion as operating cash flow of $167 million lagged $320 million in capital spending. Management cut 2026 capex guidance to $1.2 billion and is pursuing strategic alternatives for Brazilian assets. With sulfur costs elevated and production curtailed across both U.S. and Brazil operations, the company faces sustained margin pressure and expects Q3 segment EBITDA to decline further. Holders should watch whether sulfur costs moderate and whether asset sales materialize to reduce debt.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Mosaic disclosed Q2 2026 earnings results via press release and supplemental performance data.
Added in current filing · verify on EDGAR →
Furnished herewith as Exhibit 99.1 and incorporated by reference herein is the text of The Mosaic Company’s (“Mosaic,” and Mosaic and its subsidiaries, individually or in any combination, “we,” “us” or “our”) announcement regarding its earnings and results of operations for the quarter ended June 30, 2026, as presented in a press release issued on August 4, 2026.
Mosaic announced its second quarter 2026 earnings and results of operations through a press release dated August 4, 2026. The filing references Exhibit 99.1 for the full earnings announcement, but does not disclose specific financial metrics in the 8-K body itself.
Added in current filing · verify on EDGAR →
Furnished herewith as Exhibit 99.2 and incorporated by reference herein is certain performance data for the period ended June 30, 2026 to be published on Mosaic’s website.
Mosaic provided additional performance data for the quarter ended June 30, 2026 through Exhibit 99.2, which will be published on the company's website. This supplemental data provides investors with additional operational and financial metrics beyond the press release.
Event · Exhibit 99.1
Mosaic reported Q2 2026 net loss of $273M on $2.8B revenue, cut capex to $1.2B, and curtailed phosphate production amid sulfur cost pressures.
Added in current filing · view on EDGAR →
reported a net loss of $273 million and diluted loss per share of $0.86 for the second quarter of 2026. Adjusted EBITDA(1) was $407 million and adjusted EPS(1) was $0.13.
Mosaic reported a Q2 2026 net loss of $273 million ($0.86 per share), compared to net income of $411 million in Q2 2025. Adjusted EBITDA was $407 million, down from $566 million year-over-year. Results were negatively impacted by $351 million of pre-tax notable items, primarily mark-to-market adjustments on Ma'aden shares ($162 million), non-cash project write-offs ($69 million), and foreign currency losses ($49 million).
Added in current filing · view on EDGAR →
Capital expenditures in 2026 are now expected to be $1.20 billion, down from the previous expectation of $1.25 billion.
Mosaic reduced its 2026 capital expenditure guidance to $1.2 billion from $1.25 billion. This $50 million reduction is part of the company's efforts to preserve cash and strengthen financial flexibility during challenging market conditions. The company also completed the sale of its Carlsbad, New Mexico potash mine in Q2 and is pursuing strategic alternatives for its Araxa and Patrocinio assets in Brazil.
Added in current filing · view on EDGAR →
Commodity fertilizer production is in the process of being idled in Brazil as a result of sulfur affordability and availability. Animal feed production at Cajati remains operational and profitable. ... Challenging producer economics and the full-quarter impact of production curtailments are expected to have a negative impact on the third quarter financial performance. As a result, segment adjusted EBITDA in the third quarter is expected to be below the second quarter result.
Mosaic is idling commodity fertilizer production in Brazil due to sulfur cost pressures, though animal feed production at Cajati continues. Sales volumes in Brazil were 1.5 million tonnes in Q2 2026, down from 2.2 million tonnes in Q2 2025.
Event · Exhibit 99.2
Added in current filing · view on EDGAR → · paraphrased
Diluted net earnings (loss) per share $ (0.86) ... Total Net Sales $ 2,824 ... Net earnings (loss) attributable to Mosaic $ (273)
Mosaic reported a Q2 2026 net loss of $273 million, or $0.86 per diluted share, on revenue of $2.82 billion. Adjusted diluted EPS was $0.13, excluding $0.99 per share of notable items. The loss reflects weak operating performance across segments, with consolidated gross margin of only 8% and negative operating earnings of $36 million.
Added in current filing · view on EDGAR → · paraphrased
Operating Earnings $ (104) ... Gross Margin $ (5) ... Total Finished Product(d) 1,406 ... Average finished product selling price(g) $ 754
The Phosphate segment reported an operating loss of $104 million in Q2 2026, with negative gross margin of $5 million. Sales volumes were 1,406 thousand tonnes at an average price of $754 per tonne. The segment faced a $69 million asset write-off, $60 million in idle/turnaround costs, and sharply higher input costs including sulfur at $522 per long ton.
Added in current filing · view on EDGAR → · paraphrased
Operating Earnings $ (41) ... Gross Margin $ 6 ... Total Finished Product 1,520 ... Accelerated depreciation Brazil Cost of goods sold (26) 2 (0.08)
Mosaic Fertilizantes reported an operating loss of $41 million in Q2 2026, with gross margin of only $6 million on 1,520 thousand tonnes sold. The segment recorded $26 million in accelerated depreciation and $61 million in idle/turnaround costs. The Brazil operations have been under pressure, with Q1 2026 recording a $302 million loss on assets held for sale and a $110 million goodwill impairment in Q4 2025.
Added in current filing · view on EDGAR → · paraphrased
Short-term debt $ 1,021 ... Long-term debt (including current portion) 4,834 ... Cash & cash equivalents 294 ... Net debt $ 5,561
Net debt increased to $5.56 billion at Q2 2026 from $5.24 billion at Q1 2026, driven by long-term debt rising to $0.0M. The company generated $167 million in operating cash flow during Q2 2026 and spent $320 million on capital expenditures. Cash and equivalents stood at $294 million.
Added in current filing · view on EDGAR →
Ma'aden mark-to-market Corporate and Other Other non-operating income (expense) (162) 26 (0.43)
The company recorded a $162 million mark-to-market loss on its Ma'aden investment in Q2 2026, contributing $0.43 per share to the net loss. This follows volatile Ma'aden mark-to-market swings in prior quarters, including a $308 million gain in Q3 2025 and a $90 million loss in Q4 2025.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 5, 2026 · How we verify