What were the main reasons for Mosaic's Q2 net loss of $273 million, and how did sulfur constraints specifically impact its Phosphate segment?

Mosaic reported a Q2 net loss of $273 million—reversing a $411 million net income in the prior-year quarter—due primarily to $351 million in pre-tax notable items, including $162 million in mark-to-market adjustments on its Ma’aden shareholding, $69 million in non-cash project write-offs, and $49 million in foreign currency transaction losses. Sulfur constraints directly pressured the Phosphate segment, causing production curtailments, lower sales volumes, and higher raw material costs—resulting in a $104 million operating loss, sharply worse than the $8 million loss a year earlier.

How has Mosaic adjusted its 2026 capital expenditure guidance, and what actions is it taking to improve free cash flow for the remainder of the year?

Mosaic lowered its 2026 capital expenditure guidance by an additional $50 million to $1.2 billion—following a prior $250 million reduction in Q1—bringing the total cut to $300 million year-to-date. To improve free cash flow through the rest of the year, the company expects benefits from these lower capital expenditures and an anticipated release of working capital, particularly in Brazil.

Mosaic Swings to Q2 Loss on Sulfur Constraints, Lower Volumes; Trims 2026 Capex Further

Aug 6, 2026

Mosaic Co. reported a Q2 net loss of $273 million driven by sulfur constraints and lower volumes, missing analyst estimates. The company reduced 2026 capital expenditure guidance by $50 million amid challenging business conditions.

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Mosaic Swings to Q2 Loss on Sulfur Constraints, Lower Volumes; Trims 2026 Capex Further

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