The Mosaic (MOS) 10-K Summary — Year Ended Dec 31, 2023
The Mosaic Company operates in the crop nutrient industry, serving global agricultural demand through its production and distribution of fertilizers. For the most recent annual period, the company reported a decline in revenue compared to the prior year, with a corresponding decrease in operating income and net income.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
The Mosaic Company operates in the crop nutrient industry, serving global agricultural demand through its production and distribution of fertilizers. For the most recent annual period, the company reported a decline in revenue compared to the prior year, with a corresponding decrease in operating income and net income.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$13.7B
Revenue reported for the fiscal year.
Operating income
$1.3B
Income from operations reported for the year.
Net income
$1.2B
Net income reported for the year.
Operating cash flow
$2.4B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $12.4B | n/a |
| Dec 31, 2022 | $19.1B | +54.8% |
| Dec 31, 2023 | $13.7B | -28.4% |
Business overview
The company is a crop nutrient producer with business segments covering phosphate, potash, and other fertilizer operations. It sells and distributes its products globally, competing in a market influenced by factors affecting demand such as agricultural conditions. The company also engages in joint ventures and strategic acquisitions to expand its operations.
Financial performance
Reported revenue and operating income both decreased from the prior annual period. Net income also declined. Operating cash flow remained positive, reflecting ongoing cash generation from operations despite the lower earnings.
Material risks
The company faces risks from cyberattacks that could disrupt its information technology systems, including those used for accounting, production, and supply chain management. Additionally, its strategic initiatives, such as integrating acquired businesses and managing joint ventures, may fail to deliver expected benefits or may incur higher costs than anticipated. To date, no material cybersecurity incidents have been reported.
Liquidity and capital
The company allocates capital toward ongoing strategic initiatives, including capital expenditures and potential acquisitions. It relies on effective project management to control costs and realize expected benefits from these investments.
What to watch
Monitor whether the company reports any material cybersecurity incidents affecting its information technology systems in the next filing.