MOS · 10-Q · 2026Q3 · Full report

Geographic Market Commentary

MOSAIC CO · 2026-11-04 · Importance 52 · Surprise 56

Phosphate net sales in North America decreased 25% year over year in the third quarter, while international net sales increased 52%, reflecting different regional sales patterns. Mosaic Fertilizantes’ Brazilian sales volumes fell 32% in the quarter and 27% over nine months, with production affected by raw-material constraints and facility curtailments. China and India distribution businesses recorded combined third-quarter revenue of $83.0 million, down from $112.4 million, and lower sales volumes weakened their gross margin. Over nine months, China and India revenue increased to $439.9 million from $392.3 million, while higher product costs affected gross margin.

Key facts

• Mosaic's China and India businesses generated combined revenue of $439.9 million and gross margin of $50.6 million in the first nine months of 2026, compared with revenue of $392.3 million and gross margin of $53.2 million in 2025. source
• Mosaic's China and India businesses generated combined revenue of $83.0 million and gross margin of $9.0 million in the third quarter of 2026, compared with revenue of $112.4 million and gross margin of $13.2 million in 2025. source
• The Company identifies political and economic instability, civil unrest or government policy changes in Brazil, Peru, Paraguay or other countries where it operates as potential sources of operational disruption and higher costs, including costs related to new freight tables and mining legislation. source