MOSAIC CO
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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FY2025 · Filed Feb 27, 2026
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Mosaic Fertilizantes
Mosaic Fertilizantes Net Sales and Gross Margin
The following table summarizes the Mosaic Fertilizantes segment’s net sales, gross margin, sales volume and selling price.
| Years Ended December 31, | 2025-2024 | 2024-2023 | |||||||||
| (in millions, except price per tonne or unit) | 2025 | 2024 | 2023 | Change | Percent | Change | Percent | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | $4,847.3 | $4,422.3 | $5,684.7 | $425.0 | 10% | $(1,262.4) | (22)% | ||||
| Cost of goods sold | 4,355.3 | 4,015.7 | 5,473.1 | 339.6 | 8% | (1,457.4) | (27)% | ||||
| Gross margin | $492.0 | $406.6 | $211.6 | $85.4 | 21% | $195.0 | 92% | ||||
| Gross margin as a percent of net sales | 10.1% | 9.2% | 3.7% | ||||||||
| Sales volume (in thousands of metric tonnes) | |||||||||||
| Phosphate produced in Brazil | 1,204 | 1,701 | 2,235 | (497) | (29)% | (534) | (24)% | ||||
| Potash produced in Brazil | 166 | 201 | 195 | (35) | (17)% | 6 | 3% | ||||
| Purchased nutrients | 7,587 | 7,128 | 7,253 | 459 | 6% | (125) | (2)% | ||||
| Total Mosaic Fertilizantes Segment Tonnes | 8,957 | 9,030 | 9,683 | (73) | (1)% | (653) | (7)% | ||||
| Realized prices ($/tonne) | |||||||||||
| Average finished product selling price (destination) | $488 | $440 | $543 | $48 | 11% | $(103) | (19)% | ||||
| Brazil MAP price (delivered price to third party) | $714 | $605 | $597 | $109 | 18% | $8 | 1% | ||||
| Purchases (’000 tonnes) | |||||||||||
| DAP/MAP from Mosaic | 133 | 195 | 341 | (62) | (32)% | (146) | (43)% | ||||
| MicroEssentials® from Mosaic | 883 | 989 | 1,019 | (106) | (11)% | (30) | (3)% | ||||
| Potash from Mosaic/Canpotex | 2,019 | 2,195 | 2,067 | (176) | (8)% | 128 | 6% | ||||
| Average cost per unit consumed in cost of goods sold: | |||||||||||
| Ammonia (metric tonne) | $624 | $627 | $807 | $(3) | —% | $(180) | (22)% | ||||
| Sulfur (long ton) | $296 | $173 | $232 | $123 | 71% | $(59) | (25)% | ||||
| Blended rock (metric tonne) | $97 | $109 | $122 | $(12) | (11)% | $(13) | (11)% | ||||
| Production volume (in thousands of metric tonnes) | 3,488 | 3,501 | 3,457 | (13) | —% | 44 | 1% | ||||
The Mosaic Fertilizantes segment’s net sales increased to $4.8 billion for the year ended December 31, 2025, from $4.4 billion for 2024. The increase in net sales was driven by approximately $420 million of higher finished product sales prices, partially offset by lower finished good sales volumes, which unfavorably impacted net sales by approximately $25 million. Additionally, both higher sales prices and volumes of other products, primarily gypsum, contributed positively, adding approximately $30 million to net sales.
The overall average finished product selling price increased $48 per tonne, to $488 per tonne for 2025, due to the factors discussed in the Overview.
The Mosaic Fertilizantes segment’s sales volume remained materially unchanged at 9.0 million tonnes for the year ended December 31, 2025, compared to the prior year period.
Gross margin for the Mosaic Fertilizantes segment increased to $492.0 million for the year ended December 31, 2025, from $406.6 million in the prior year. This increase was primarily driven by higher average selling prices of approximately $420 million during the current year period. This benefit was partially offset by approximately $280 million of higher production costs, primarily in our distribution operations, along with a decrease in sales volumes, which reduced gross margin by approximately $80 million, higher turnaround and idle costs of approximately $35 million and higher freight expenses of approximately $20 million. Additionally, foreign currency changes positively impacted gross margin by approximately $80 million in the current year period. Although gross margin increased from the prior year, our margin declined in the fourth
F- 10 quarter of 2025, in part due to higher sulfur raw material cost and higher turnaround and idle costs due to downtime. In December 2025, we temporarily idled our Fospar and Araxa facilities due to the high sulfur costs.
The average consumed price for ammonia for our Brazilian operations was $624 per tonne for the year ended December 31, 2025, compared to $627 per tonne in the prior year. The average consumed sulfur price for our Brazilian operations was $296 per long tonne for the year ended December 31, 2025, compared to $173 in the prior year. The purchase prices of these raw materials are driven by global supply and demand, and include transportation, transformation and storage costs.
The Mosaic Fertilizantes segment’s production of crop nutrient dry concentrates and animal feed ingredients remained materially unchanged from the prior year period at 3.5 million tonnes. For the years ended December 31, 2025 and 2024 our phosphate operating rate was 78%.
Our Brazilian phosphate rock production increased to 4.2 million tonnes for the year ended December 31, 2025 compared to 3.9 million for the prior year period.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.