Mosaic Company (the) · NYSE:MOS
Mosaic Company (the) — The Mosaic Company — Q3 2022 Earnings Presentation
15 slides from Mosaic Company (the)'s earnings presentation, Nov 8, 2022
Slide 1: Third Quarter 2022 Results
The Mosaic Company THIRD QUARTER 2022 RESULTS November 7, 2022 Date:
Slide 2: Forward Looking Statements & Non-GAAP Financial Measures
Forward Looking Statements & Non-GAAP Financial Measures This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, but are not limited to, statements about proposed or pending future transactions or
Slide 3: Third Quarter 2022 Performance
Third Quarter 2022 Performance CONSOLIDATED OPERATING NET ADJUSTED(1) REVENUES EARNINGS EARNINGS EBITDA $5,349M $1,155M $842M $1,686M +56% Y/Y +65% Y/Y +126% Y/Y +74% Y/Y PHOSPHATES POTASH MOSAIC FERTILIZANTES Net Operating Adjusted Net Operating Adjusted Net Operating Adjusted Revenues Earnings EBI
Slide 4: Year-to-Date 2022 Free Cash Flow
Year-to-Date 2022 Free Cash Flow(1) Capital return to shareholders remains a key focus in 2022 $ in millions Cash Flow from Operations $2,980 Capital Expenditures $(907) Adjustments for Working Capital Financing $(226) Free Cash Flow(1) $1,847 YTD 2022 Capital Return $1,765 Capital Return as a % of
Slide 5: 2022 Capital Allocation
2022 Capital Allocation Free Cash Flow(1) Strengthen Balance Return to Invest in the Business Sheet Shareholders Reduce long-term Total capex of $1.3 All remaining free debt by $1 billion billion cash flow (after commitments) • Expect to reach target in • K3 optimization November with the • YTD retu
Slide 6: Outlook for 2022
Outlook for 2022 Pricing & Sensitivities FY 2021 Q3 2022 Sensitivity Average DAP fob plant ($/tonne)(1) $564 $809 $10 price = $94 mm adjusted EBITDA Average MOP fob mine ($/tonne)(2) $285 $666 $10 price = $53 mm adjusted EBITDA BRL/USD(3) 5.39 5.24 Unhedged: $0.10 = $10 mm adjusted EBITDA (1) Approx
Slide 7: Potash Q3 2022 Performance
Potash Q3 2022 Performance Y/Y Adjusted EBITDA(1) Bridge Q3 2022 Q3 2021 Variance $599 Sales Volumes (mt in millions) 2.142 1.808 0.334 MOP Selling Price (FOB Mine) ($/mt) $ 666 $ 290 $ 376 $761 $(210) MOP cash costs of production (excl Brine) ($/mt) $ 78 $ 72 $ 6 $53 $(29) $24 $871 $ in millions Gr
Slide 8: Phosphate Q3 2022 Performance
Phosphate Q3 2022 Performance Y/Y Adjusted EBITDA(1) Bridge Q3 2022 Q3 2021 Variance Sales Volumes (mt in millions) 1.651 1.836 (0.185) DAP Selling Price (FOB Plant) ($/mt) $ 809 $ 605 $ 204 $2 Production volume (mt in millions) 1.664 1.738 (0.074) $356 $(62) FL Cash Rock Cost of production ($/mt) $
Slide 9: Mosaic Fertilizantes Q3 2022 Performance
Mosaic Fertilizantes Q3 2022 Performance Y/Y Adjusted EBITDA(1) Bridge Q3 2022 Q3 2021 Variance Sales Volumes (mt in millions) 2.824 3.350 (0.526) Average Finished Product Selling Price ($/mt) $ 931 $ 524 $ 407 $26 MAP Price (delivered price to third party) ($/mt) $ 866 $ 622 $ 244 $1,114 $(1,000) C
Slide 10: Appendix
Appendix
Slide 11: Reconciliation of non GAAP measures
Reconciliation of non GAAP measures Consolidated Earnings (in millions) Q3 2022 Q3 2021 Consolidated net earnings attributable to Mosaic $842 $372 Less: Consolidated interest expense, net (31) (48) Plus: Consolidated depreciation, depletion and amortization 229 186 Plus: Accretion expense 19 17 Plus
Slide 12: Reconciliation of non GAAP measures
Reconciliation of non GAAP measures Potash Earnings (in millions) Q3 2022 Q3 2021 Operating earnings $793 $220 Plus: Depreciation, depletion and amortization 76 50 Plus: Accretion expense 2 2 Plus: Foreign exchange gain (loss) (19) (38) Plus: Other income (expense) - - Plus: Notable items 19 38 Adju
Slide 13: Reconciliation of non GAAP measures
Reconciliation of non GAAP measures Phosphate Earnings (in millions) Q3 2022 Q3 2021 Operating earnings $131 $326 Plus: Depreciation, depletion and amortization 121 106 Plus: Accretion expense 13 13 Plus: Foreign exchange gain (loss) 3 6 Plus: Other income (expense) 1 1 Less: Earnings (loss) from co
Slide 14: Reconciliation of non GAAP measures
Reconciliation of non GAAP measures Mosaic Fertilizantes Earnings (in millions) Q3 2022 Q3 2021 Operating earnings $323 $290 Plus: Depreciation, depletion and amortization 28 26 Plus: Accretion expense 4 3 Plus: Foreign exchange gain (loss) (66) (40) Plus: Other income (expense) (1) (2) Less: Earnin
Slide 15: Reconciliation of non GAAP measures
Reconciliation of non GAAP measures Free Cash Flow (in millions) Q3 2022 Cash flow from operations $889 Capital expenditures (353) Adjustments for working capital financing 51 Free cash flow $587 15