On February 22, Mosaic Co. (MOS) reported its financial results for the quarter and year ended December 31, 2021, after the bell. Consequently, the stock plunged further down in the after-hours session on Tuesday.
In the regular trading session, the stock had a mild loss of 1.80% at its closing price of $44.19. The day saw an active volume of 7.74 million shares. The fortune 500 company’s stock’s downfall sped up in the after-hours when the company posted the results. MOS stock lost a further 6.74% or $2.98 in the after-hours while 1.47 million shares exchanged hands. Thus, the stock had a value of $41.21 per share in the after-hours on Tuesday.
The phosphate and potash crop nutrients producer, Mosaic Co. has a market capitalization of $16.67 billion with 370.41 million outstanding shares. Presently, MOS stock stands at a year-to-date gain of 12.47% while it increased by 48.79% last year.
MOS’ Q4 2021 Highlights
In Q4 2021, the company’s net income was $665 million with an adjusted EPS of $1.95. Moreover, the company had adjusted EBITDA of $1.2 billion in the fourth quarter of 2021.
Fiscal 2021 Financials
For fiscal 2021, the company had a net income of $1.6 billion with an adjusted EPS of $5.04.
Furthermore, MOS had revenues of $12.4 billion in fiscal 2021 with an increase of 42% YOY.
The company’s adjusted EBITDA in fiscal 2021 totaled $3.6 billion, marking a record growth of 129% YOY.
In fiscal 2021, the total cash from operating activities increased by 38% YOY to $2.2 billion.
Operating Highlights and Plans
Under the present authorization, the company plans to commence accelerated share repurchase of $400 million in February.
Additionally, soon after the completion of the present authorization, MOS plans to initiate a new $1 billion shares repurchase program.
The company also announced to declare an increased annual dividend of $0.45-$0.60 per share in Q2 2022, on a regular basis.
MOS’ Recent Developments
On February 18, the company announced a new global diversity and inclusion strategy with new targets. The purpose of this is to improve representation and community impact.
Thus, the company plans to achieve the following by 2030:
- 30% female representation in the workforce.
- 30% increase in underrepresented groups.
- 30% leadership diversity growth.
- 30% community investments in diversity and inclusion.
Conclusion
In the latest earnings report, the company beat both its earnings and revenue expectations. Despite the beat results, it seems investors remained unimpressed and expected much more from the company. Therefore, the stock took a further hit in the after-hours on Tuesday.
