MOS · 8-K · 20260804PR000109

Operating Income and Margins

MOSAIC CO · 2026-08-04 · Importance 63 · Surprise 64

Consolidated gross margin declined to $214.7 million in Q2 2026 from $518.6 million in Q2 2025, while operating results shifted from $244.4 million of earnings to a $35.5 million loss. Adjusted EBITDA fell 28.1% year over year to $407 million, primarily because of lower volumes and higher raw-material costs in Phosphate and Mosaic Fertilizantes, partially offset by higher phosphate and potash prices. Phosphate operating loss widened to $104 million from $8 million, and segment adjusted EBITDA fell to $128 million from $217 million as raw-material costs rose and lower volumes reduced fixed-cost absorption. Mosaic Fertilizantes moved to a $41 million operating loss from $109 million of operating earnings, with adjusted EBITDA falling to $60 million from $159 million because of lower volumes and higher sulfur costs, while Potash operating earnings remained broadly stable at $195 million and adjusted EBITDA was $278 million.

Key facts