Mosaic (MOS) FY2025 results: revenue $12.1 billion, up 8.4% on the year

Mosaic produces and markets concentrated phosphate and potash crop nutrients and phosphate-based animal feed ingredients, selling to customers in approximately 40 countries. The company describes itself as the world's leading producer and marketer of concentrated phosphate and potash crop nutrients. It mines phosphate rock in Florida, Brazil and Peru and processes it into finished products in Florida, Louisiana and Brazil, mines potash in Saskatchewan and New Mexico, and has other production, blending or distribution operations in Brazil, China, India and Paraguay. It accounts for approximately 10% of estimated global annual phosphate production and approximately 12% of global potash production. Incorporated in Delaware in March 2004, it was formed by the October 2004 combination of IMC Global and the fertiliser businesses of Cargill, and it runs three segments: Phosphate, Potash and Mosaic Fertilizantes.

Phosphate

Mines and production facilities in Florida make concentrated phosphate crop nutrients and animal feed ingredients, with processing plants in Louisiana, and the segment takes in a 75% economic interest in the Miski Mayo mine in Peru. The Florida mines produced approximately 9.5 million tonnes of rock in 2025, approximately 47% of estimated North American annual production, from three active mines, Four Corners, South Fort Meade and Wingate, with the DeSoto, Pioneer and South Pasture properties set to be explored and developed to offset depletion. Four North American mines carry combined annual capacity of 17.2 million tonnes and Miski Mayo another 4.8 million, and producing a tonne of DAP takes between 1.6 and 1.7 tonnes of rock. The segment accounts for approximately 72% of estimated North American annual production of concentrated phosphate crop nutrients.

Potash

Three mines in Canada, two shaft and one solution, plus one shaft mine in the United States, together approximately 34% of estimated North American annual potash production. Muriate of potash is the primary source of potassium for the crop nutrient industry: red muriate carries traces of iron oxide and suits direct application and bulk blending, while white muriate holds a higher percentage of potassium oxide and goes to industrial uses as well as agriculture. A double sulfate of potash magnesia sold as K-Mag is made at Carlsbad, New Mexico, a facility classified as held for sale at 31 December 2025 under an agreement signed that month. Potash also goes into de-icing and water softener regenerant. The company leases approximately 291,500 acres of mineral rights from the government of Saskatchewan and holds approximately 99,300 undeveloped freehold acres in the Kronau and Regina area, and it pays Canadian resource taxes including the Potash Production Tax.

Brazil

Mosaic Fertilizantes produces and sells phosphate- and potash-based crop nutrients and animal feed ingredients in Brazil, with five phosphate rock mines and four chemical plants there, plus sales offices, blending and bagging facilities, port terminals and warehouses in Brazil and Paraguay. It accounts for approximately 73% of estimated annual production of concentrated phosphate crop nutrients in Brazil, and it is also the distribution outlet for the Phosphate and Potash segments.

Selling and shipping

Sales go to wholesale distributors, retail chains, cooperatives, independent retailers and national accounts, with customer service and the ability to hold down overall supply chain costs named as key competitive factors. Distribution warehouses sit along or near the Mississippi and Ohio rivers and in other agricultural regions, either owned or held through throughput arrangements. The company owns deep water port facilities at Tampa, Florida and warehouses at Rosemount, Minnesota, Pekin, Illinois and Henderson, Kentucky, with leased space or throughput agreements in fifteen further states and warehouses in Saskatchewan, Ontario, Quebec and Manitoba.

People

There were 13,249 employees at 31 December 2025: 6,187 in Brazil, 4,021 in the United States, 2,005 in Canada, 719 in Peru and smaller numbers in China, India, Paraguay and Saudi Arabia.

From Mosaic's annual report on Form 10-K for the year ended 31 December 2025. The filing

Written from the 10-K filed 27 February 2026: read the full 10-K.