Mosaic Recovers From Storms, Addresses Customer Bankruptcy With $30M At Risk
Portfolio Pulse from Benzinga Newsdesk
Mosaic Company (NYSE:MOS) reports recovery from recent hurricanes affecting its Florida operations and addresses a $30M risk due to a key customer's bankruptcy. Most operations have resumed, and the company expects to recover the majority of the outstanding balance through credit insurance.
October 21, 2024 | 10:35 am
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Mosaic has successfully resumed operations post-hurricanes in Florida, with a minor production impact expected in Q4. Additionally, a $30M risk from a customer's bankruptcy is largely mitigated by credit insurance.
Mosaic's quick recovery from hurricane impacts and the mitigation of a $30M risk through credit insurance suggest stability. However, the production impact and customer bankruptcy introduce some uncertainty, balancing the short-term outlook.
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