(Reuters) -Mosaic beat Wall Street expectations for first-quarter profit on Tuesday, driven by strength in its South America business.
The results come as the agrichemical industry braces for potential fallout from U.S. President Donald Trump’s sweeping tariffs on most imports, which are expected to lower demand and curb farmers’ spending.
Mosaic’s fertilizer business in South America reported net sales of $934 million in the first quarter, up from $886 million a year earlier due to higher sales volumes.
Shares of the company rose 2.8% after the bell.
The Tampa, Florida-based company reported adjusted earnings of 49 cents per share for the quarter ended March 31, compared with analysts’ average estimate of 45 cents per share, according to data compiled by LSEG.
(Reporting by Vallari Srivastava in Bengaluru; Editing by Mohammed Safi Shamsi)