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Mosaic stock rallies as results top Street view

Mosaic Co. shares rallied in the extended session Monday after the fertilizer maker’s results topped Wall Street expectations. Mosaic shares surged 6% after hours, following a 1.6% rise in the regular session to close at $13.68. The company reported second-quarter net income of $47.4 million, or 12 cents a share, versus a loss of $233.1 million, or 60 cents a share, in the year-ago period. Adjusted earnings were 11 cents a share. Revenue declined to $2.04 billion from $2.18 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of a penny a share on revenue of $1.84 billion. “As Covid-19 continued to impact the global economy, agriculture and food security continue to be global priorities resulting in limited impact to agricultural inputs, including fertilizer and its supply chains,” Mosaic said in a statement.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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