By Joshua Jamerson

Fertilizer maker Mosaic Co. (MOS) said potash and phosphate prices strengthened in the latest quarter as results topped Wall Street expectations.

Chief Executive Joc O'Rourke said the quarter's results reflected improvement from the first half of the year as "pent-up demand materialized."

For the third quarter ended in September, the company posted a profit of $39.2 million, or 11 cents a share, compared with $160 million, or 45 cents a share, a year earlier.

Sales fell 7.3% to $1.95 billion.

Analysts polled by FactSet anticipated 10 cents in per-share earnings on $1.91 billion in revenue.

Mosaic stock has declined 30% in the past 12 months and was inactive in premarket trading.

Write to Joshua Jamerson at joshua.jamerson@wsj.com

(END) Dow Jones Newswires

November 01, 2016 08:40 ET (12:40 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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