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Mosaic FOR IMMEDIATE RELEASE Media Ben Pratt The Mosaic Company 813-775-4206 benjamin.pratt@mosaicco.com Investors Laura Gagnon The Mosaic Company 813-775-4214 Highlights : investor@mosaicco.com The Mosaic Company 101 E. Kennedy Blvd. , Suite 2500 Tampa , FL 33602 www.mosaicco.com O Investors Paul Massoud The Mosaic Company 813-244-0669 investor@mosaicco.com TAMPA , FL , August 2 , 2021 The Mosaic Company ( NYSE : MOS ) , reported net income of $ 437 million , or $ 1.14 per diluted share , for the second quarter of 2021. Adjusted EPS ( ¹ ) was $ 1.17 and adjusted EBITDA ( ¹ ) was $ 829 million . Gross margin was $ 752 million compared to $ 257 million a year ago , reflecting improved per tonne margins in all three operating segments as a result of higher prices and transformation benefits , partially offset by lower volumes . Reported earnings were negatively impacted by notable items of $ 27 million . THE MOSAIC COMPANY REPORTS SECOND QUARTER 2021 RESULTS " Mosaic's results for the second quarter of 2021 highlight the benefits of our transformation efforts in a strong pricing environment , " said Joc O'Rourke , President and CEO . " Underlying agricultural markets remain constructive , and this is driving demand for fertilizer . The second half of 2021 is expected to be one of our strongest periods in more than a decade . " Second quarter revenues were up 37 percent year - over - year to $ 2.8 billion , as stronger pricing more than offset lower volumes . Gross margins in the quarter were up 193 percent from the prior year period , primarily as a result of year - over year price increases . The gross margin rate in the quarter was 26.9 percent , up from 12.6 percent in second quarter of 2020 and the highest gross margin rate since the first quarter of 2013 . The company generated $ 1.0 billion in cash flow from operations during the quarter , or $ 718 million after subtracting capital expenditures . Third quarter phosphate and potash segment sales are approximately 90 percent committed and priced . Phosphate average realized prices in the third quarter are expected to be $ 90 to $ 100 per tonne higher than prices realized during the second quarter . Raw material costs in the third quarter are expected to increase $ 15 to $ 25 per finished tonne above second quarter costs . ( 1 ) See " Non - GAAP Financial Measures " for additional information and reconciliation .