Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
The Mosaic Company reported a sharp reversal to a net loss of -$257.6M in Q1 2026 (vs. net income of $238.1M in Q1 2025), driven by a 29.5% surge in cost of revenue that overwhelmed a 14.4% revenue gain, collapsing gross margin to just 7.9% and swinging operating income deeply negative.
Revenue
$3B
+14.39% YoY
EPS (Diluted)
-$0.81
-208.00% YoY
Gross Margin
7.9%
-10.8 pts YoY
Operating Income
-$372.9M
-210.16% YoY
Source: SEC XBRL
Mosaic (MOS) reported Q1 FY2026 revenue of $3B, up 14.4% year over year. Operating margin was -12.4%, against 12.9% a year earlier. Operating cash flow was $104.2M, up 142.9% year over year. MOS's fiscal Q1 FY2026 corresponds to calendar Q1 2026.
Last 4 quarters: 2 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 0.13 | 0.11 | Beat +20.4% |
| Mar 2026This filing | 0.05 | 0.24 | Miss -79.1% |
| Dec 2025 | 0.22 | 0.47 | Miss -53.3% |
| Sep 2025 | 1.04 | 1.00 | Beat +4.5% |
Adjusted (non-GAAP) EPS of $0.05 versus the $0.24 analyst consensus — a -79.1% miss for Mar 2026. Analyst consensus is quoted on the adjusted (non-GAAP) basis the street uses. GAAP diluted EPS for this quarter was -$0.81.
Compiled by AI from this SEC filing
Revenue rose 14.4% YoY to $3.0B in Q1 2026, but cost of revenue jumped 29.5% to $2.76B, resulting in gross profit collapsing 51.8% to $235.6M. This cost-revenue mismatch is the central story of the quarter.
Source: 10-Q Income Statement Data
Operating income deteriorated by 210.2% YoY, swinging from a gain of $338.5M in Q1 2025 to a loss of -$372.9M in Q1 2026. This reflects both the gross profit compression and continued SG&A spending of $135.9M (+10.8% YoY).
Source: 10-Q Income Statement Data
D&A expense rose 30.3% YoY to $316.6M, which is a notable non-cash cost increase that contributed to the operating loss and signals higher asset base or accelerated depreciation schedules.
Source: 10-Q Cash Flow Statement Data
Despite the net loss, operating cash flow more than doubled YoY to $104.2M (from $42.9M), largely supported by the $316.6M in D&A add-backs, suggesting the underlying cash generation is somewhat better than GAAP earnings imply.
Source: 10-Q Cash Flow Statement Data
Total assets grew 6.1% YoY to $24.6B, and stockholders' equity held nearly flat at $11.8B (+0.3% YoY). The current ratio of 1.25 indicates adequate short-term liquidity, though the margin of safety is modest.
Source: 10-Q Balance Sheet Data
Compiled by AI from this SEC filing · 3 high, 2 medium, 0 low
Cost of revenue surged 29.5% YoY while revenue grew only 14.4%, compressing gross margin from 18.6% to just 7.9%. If input costs (energy, raw materials, logistics) remain elevated, Mosaic's profitability could remain under severe pressure in subsequent quarters.
Source: 10-Q Income Statement Data
With D&A rising 30.3% YoY to $316.6M and SG&A up 10.8% to $135.9M, Mosaic's fixed and semi-fixed cost base is expanding. In a lower-revenue environment, this elevated cost structure amplifies operating losses significantly.
Source: 10-Q Income Statement & Cash Flow Data
ROE of -2.18% and ROA of -1.05% indicate that Mosaic is currently destroying value on its $24.6B asset base and $11.8B equity base. Sustained negative returns could pressure the stock and limit access to capital markets on favorable terms.
Source: 10-Q Balance Sheet & Income Statement Data
Cash and equivalents stand at only $281.8M against current liabilities of $4.29B, yielding a current ratio of just 1.25. While operating cash flow is positive, the thin cash cushion leaves limited buffer against unexpected operational disruptions or debt obligations.
Source: 10-Q Balance Sheet & Cash Flow Data
Investing cash outflows of -$369.0M exceeded operating cash inflows of $104.2M, implying negative free cash flow of approximately -$264.8M for the quarter. Mosaic relied on $263.0M in financing cash flows to fund operations, raising questions about capital allocation sustainability.
Source: 10-Q Cash Flow Statement Data
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 3.00 $B | 2.62 $B | +14.39% |
Cost of Revenue $B | 2.76 $B | 2.13 $B | +29.54% |
Gross Profit $M | 235.60 $M | 488.40 $M | -51.76% |
Operating Income $M | -372.90 $M | 338.50 $M | -210.16% |
Net Income $M | -257.60 $M | 238.10 $M | -208.19% |
EPS (Basic) $ | -0.81 $ | 0.75 $ | -208.00% |
EPS (Diluted) $ | -0.81 $ | 0.75 $ | -208.00% |
SG&A Expense $M | 135.90 $M | 122.60 $M | +10.85% |
Answers draw on this SEC filing and the data on this page
Mosaic swung to a net loss in Q2 FY2026, as surging sulfur and ammonia costs and production curtailments overwhelmed higher selling prices, underscoring the vulnerability of its cost structure to global supply shocks.
MOS delivered strong FY2025 results with revenue up 8.4% to $12.1B, net income surging 209% to $540.7M, and gross margin expanding 220 basis points to 15.8%, though operating cash flow declined 36.5% year-over-year.
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