RBC sees Mosaic Q3 EBITDA estimate hit by further 5% on Hurricane Helene

RBC Capital sees the Q3 impact from Hurricane Helene impacting the firm’s EBITDA estimate for Mosaic for the quarter by a further 5% due to the loss of sales from the temporary curtailment of shipments. The firm, which adds that there may be risk to phosphate sales into Q4 depending on the severity of impact on Mosaic’s Florida phosphate operations, has a Sector Perform rating and $30 price target on the shares. RBC sees about 3%-5% downside to Q4 EBITDA if operations into Q4 are impacted by an additional week, but adds that “encouragingly,” the company reported potash operations are back to normal run-rates, which should mean normal production run-rates in Q4.