In today’s briefing:
- The Commodity Report #83
- The Mosaic Company: Initiation of Coverage – Business Strategy & Other Drivers
The Commodity Report #83
- The Conference Board Leading Economic Index (LEI) for the US decreased by 1% in November 2022 to 113.5, following a decline of 0,9% in October.
- Only stock prices contributed positively to the US LEI in November.
- The labor market, manufacturing, and housing indicators all weakened—reflecting serious headwinds to economic growth.
The Mosaic Company: Initiation of Coverage – Business Strategy & Other Drivers
- This is our first report on the Mosaic Company, one of the largest producers and marketers of concentrated phosphate and potash crop nutrients.
- The company delivered a disappointing set of results in the last quarter failing to meet Wall Street expectations in terms of revenues as well as earnings.
- The good news is that it did generate a sizable amount of cash flow, which enables the company to return a large amount of capital to shareholders while simultaneously continuing to invest in future growth.
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