Mosaic Company Reports $6.5 Billion Revenue and $1.2 Billion Net Income for Fiscal Year 2024

The Mosaic Company reported a significant financial performance for the fiscal year ending December 31, 2024, with total revenues reaching $6.5 billion, a 12% increase from the previous year. The company achieved a net income of $1.2 billion, translating to earnings per share of $3.50, compared to $1.0 billion and $2.90 per share in 2023. This growth was primarily driven by higher sales volumes in both the Phosphates and Potash segments, alongside improved pricing for crop nutrients amid favorable market conditions.

In 2024, Mosaic executed a strategic transaction with Saudi Arabian Mining Company (Ma’aden), exchanging its 25% stake in the Ma'aden Wa’ad al Shamal Phosphate Company for approximately 111 million shares valued at $1.5 billion. This deal, finalized on December 24, 2024, resulted in a pre-tax gain of $500 million. Additionally, the company repurchased nearly 8 million shares of its common stock for approximately $235 million, reflecting a commitment to returning value to shareholders.

Operationally, Mosaic reported a total employee headcount of 13,765, with approximately 10,454 salaried and 3,311 hourly employees. The company maintained a strong presence in key markets, serving customers in around 40 countries. In Brazil, Mosaic Fertilizantes accounted for approximately 18% of fertilizer shipments, selling about 9 million tonnes of crop nutrient products. The company also expanded its product offerings through the Mosaic Biosciences platform, which reached coverage of 9 million acres in key markets, doubling its previous year’s reach.

Mosaic's phosphate production totaled approximately 6.3 million tonnes in 2024, representing about 66% of North America's annual production. The company also produced 8.8 million tonnes of potash, accounting for approximately 12% of global production. The Phosphates segment contributed significantly to the overall revenue, driven by strong demand and pricing, while the Potash segment benefited from operational improvements and increased capacity utilization.

Looking ahead, Mosaic anticipates continued growth in 2025, supported by favorable agricultural market conditions and strategic initiatives aimed at enhancing operational efficiency. However, the company remains cautious about potential impacts from geopolitical tensions, trade tariffs, and fluctuations in commodity prices, which could affect future performance. The management expressed confidence in its ability to navigate these challenges while maintaining a focus on sustainable growth and shareholder value.