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MOS · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue fell 6.0% y/y to $2.82B, operating margin −1.3% vs 8.1%, net loss $273M (vs net income $411M a year earlier).
All figures in $M.
| Line item | Amount and change |
|---|---|
| Net sales | $2,824 · −6.0% |
| Income Tax Benefit | $33.8 · vs −$146 |
| Equity in net earnings of nonconsolidated companies | $1.6 · +14.3% |
| Net earnings (loss) attributable to Mosaic | $273 · vs $411 |
| Cost of goods sold | $2,609 · +4.9% |
| Selling, general and administrative expenses | $132 · −21.3% |
| Loss on assets sold and to be sold | $6.2 · vs $0 |
| Other operating expense | $112 · +5.0% |
| Interest expense, net | $62.8 · +18.5% |
| Foreign currency transaction gain (loss) | $39.4 · −76.7% |
| Other income (expense) | $163 · −19.8% |
| Less: Net earnings attributable to noncontrolling interests | $7.3 · −18.9% |
Verdict: revenue fell 6.0% y/y to $2.82B, operating margin −1.3% vs 8.1%, net loss $273M (vs net income $411M a year earlier).
Diluted loss per share $0.86 vs earnings of $1.29 a year earlier; adjusted EPS $0.13 and adjusted EBITDA $407 million (non-GAAP); 2026 capital expenditure outlook reduced to $1.2 billion.
Source and notation
Source: Mosaic press release, 8-K EX-99.1 of 08/04/2026 (SEC EDGAR). Every figure was matched against the income statement in the release and checked against SEC XBRL.
Open as an image: MOS, Q2 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
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Chart: “MOS Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/mos/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/mos/q2-2026"><img src="https://whoreportstoday.com/t/mos/q2-2026/sankey.png" alt="MOS Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/mos/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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<a href="https://whoreportstoday.com/t/mos/q2-2026">MOS Q2 2026 earnings chart (Who Reports Today)</a>
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- Results were hit by $351 million of pre-tax notable items, mainly $162 million of mark-to-market adjustments on Mosaic's holding of Ma'aden shares, $69 million of non-cash project write-offs and $49 million related to foreign currency transactions.
- Gross margin fell to $214.7M from $518.6M as sulfur availability and affordability challenges weighed on phosphates; the Phosphate segment posted an operating loss of $104 million while Potash earned $195 million.
- Gross margin was 7.6% vs 17.3% a year earlier.
- Operating loss was $35.5M, a −1.3% margin vs 8.1% a year earlier.
- The effective tax rate was 11.2% vs 25.9% a year earlier.
- Diluted EPS was −$0.86 vs $1.29 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
MOS — The Mosaic Company produces and markets concentrated phosphate and potash crop nutrients, with operations in North America and Brazil (Mosaic Fertilizantes). Headquarters: Tampa, Florida.
Heads-up
- a net loss in Q2 2026 ($273 · vs $411)
- revenue fell 6% y/y in Q2 2026
Net loss for Q2 2026: $273M. In the report's figures: costs grew faster than revenue: interest expense, net +19% y/y. Based on the Q2 2026 report.
The company's report ↗Revenue for Q2 2026: $2,824M, −6% y/y. Based on the Q2 2026 report.
The company's report ↗More reports: NEM · Q3 2026 · NUE · Q3 2026 · PKG · Q3 2026 · PPG · Q3 2026 · SHW · Q3 2026 · STLD · Q3 2026 · SW · Q3 2026 · VMC · Q3 2026 · ALB · Q2 2026 · AMCR · Q4 FY2026 · all reports