from operations, the the company earnings the joining our thank through balance Cash shareholders cash reinvested $XXX $X.XX. was per balances Adjusted of million to end half business and and Thank majority call. quarter in share close were quarter $XXX in cash And you with dividends of Good repurchases. the being and our returned adjusted million. you, being that Joc. at for EBITDA The million generated share to morning, everyone. for $XXX
and unit segment solid market phosphates on in continued due potash downward Fertilizantes to business basis, pressure was weakness Mosaic primarily performance The a well. offset prices. potash in On by performed
adjusted and were strong in prices than were midpoint gross Volumes both the and margin better tonne the expected. per range at as of costs came
quarter specifically While around volumes fourth results contract. the third do quarter we of were completion pleased await in potash, see as we with we the China in challenges
low the remained on were tonne adjusted gross volumes of range per our negative margin while end at $X. phosphates, In
prices. in As benefit lower by was from sales per a $XX material tonne costs raw average offset declines
margin its product with continued impact as per of Global adjusted distribution as segment. gross reflecting strong performance Fertilizantes and Mosaic our $XX not phosphate mix. did strong Fertilizantes Mosaic pressures phosphate much favorable price margins ton
is Brazilian more and product consistent business the As its distribution mix diversified generates more margins.
Sales volume dry strong. the delayed weather, initially due and are well were progressing the to during finish quarter we to now year expect but
shipments Brazil expect this for another to total continue We year. fertilizer set to record
items there impacted beyond And a finally, were with rates. performance starting noting results worth tax segment our effective that few
from results and and earnings a for role expected of large expected discussed continued have of past, plays in as tax a weaken, our Canada rate have in year to has proportion are higher the which phosphate mix both risen, to As the jurisdictions we the tax in are Brazil, higher tax our rates U.S. earnings come as
ear mid-XX% a expect tax in rate As the the compared for to we the we be effective our mid-to-high quarter. to XX% range range now result, discussed last
catch by the this, two $XX up a $X.XXX will accrual as quarter accrual per during Given well quarter quarter, totaled million EPS required accruals impacting These close at that third period a as we third year reverse interim third the we end. booked share. books when
of which reserves expense in of is we total in costs. re-class twice other million normal is we $XX to and legal in the expense, million prior of expect what due increases after would adjusted operating Brazil approximately addition, quarter. recorded In $XX non-recurring $XX operating million notables, the
practice. The full past as impacted share be These higher adjusted with than estimated consistent to our normal EPS were rate. per treated legal by effective at reserves notables negatively $X.XX tax our year not
and these Excluding Mosaic’s EPS tax would other adjusted $X.XX. quarter for been expense the items, have
million realized third expect synergies its we strong. has quarter this The through P&L $XXX Mosaic to in of year segment Fertilizantes year net the of and finish the
of sold, volumes. flow ultimate realization of our through the As sales depends goods cost many synergies on
up current forecast for to on for our acceleration Based demonstrating this million quarter, tonne a continued quarter-over-quarter. to the year the of fourth per $XX synergy we on million, $XXX target sales recognition expect basis exceed by
Earlier accomplished phase simply our announced program achieving business $XXX of will in an we a program, of next in target to-date our build by Brazil, not adjusted with is initiatives additional EBITDA synergy that new improvement This extension an million on this XXXX. but year, of the
the executing the on performing Canada, the in is of best world. addition company believe In in one to which well the in we projects is strong Brazil, potash execution development KX very
this We one compared in a original announced and now project to and at earlier months XX we assembly our four first to acceleration, year plan. acceleration three believe the by can months months year accelerate the Day months, minor Analyst reduced under times of XX to the project months six have been the as additional an
$XXX to reductions allow KX acceleration and will cost quickly Faster budget below more expect increase project migrating operating total management savings brine cost we this to pull remain in CapEx for $XX project. accelerate total the from will KX. forward, to production to us execution While million KX by and million
million significant. on spend. This is of an accelerated $XXX spending, KX after unlimited tax spending cost a to net equivalent gross third helps in all and XX% IRR of of It’s of and project on generate capital the savings capital excess XX% roughly capital
$X.X EBITDA $X.XX billion quarter, reflect to As phosphates. through $X.XX. the third have levels now on both recent billion more as we and the Based adjusted well adjusted at sales at our and we factors, to year guidance full these pricing adjusted as EPS look and of expectations for we results to see balance $X.X to the potash year,
Some forecast the of include in our the following. key assumptions
First, to potash market over phosphates reducing are XX% prices. our priced, changes exposure of in and sales our
tonnes $XX. sales Second, of for to quarter million $XX margin X.X gross we of expect potash tonne X.X per the to fourth volumes million and
minimal no XXX,XXX the and This near-term is we October announced expectations reflected previously as tonne to demand and in assumes response for of in prices volumes tonnes XXth. quarter. expect China the and now Our curtailment market was sales India changing
we margin approximately market tonne and tonnes to the quarter tonnes million XX business For zero, assumes adjusted of which unit, as volumes of $XX gross XXth, negative to lower October X averages. from expect prices sales phosphate X.X third million than per
X.X sell a is dam as expected tailings per tonnes recognize to the regulatory Fertilizantes Gross Mosaic to finished changes. we is $XX last to range the to be of $XX million [ph] expected product, in costs is total related of tonne tonnes most already which committed. the X.X million of higher margin to of of the
equity to loss Lastly, other joint we the million deliver to expect approximately from modern and $XX venture margin our $XX $XX be of corporate million. to gross million and
we to call financial yearend our guidance on As in is February. initiate XXXX our earnings custom, intend
over we due we As the mindful market we the multiple guidance of primarily for that of years, either weakening year, each to are couple or strengthening times past prices. that, adjusted fact prepare have
on more easily can that investors as so mind, that cost, we prices that operating targets are alternative forecast With in change. approaches focus evaluating and results sensitivities, more market
hear about more our yearend will earnings You on this call.
about XXXX attention are different compared to think to would before to total things I start four XXXX, and what call But prices. your changes earnings in compared to should $XXX you million as any in be market to which XXXX incremental expected
First, reoccur next business incur approximately to We million costs Mosaic during that would will expect obviously to this Fertilizantes in not efforts. dam remediation the $XX manage year year.
idle in has will begun. the million the $XX been first has of facility reoccur asset that now half Plant Second not City work cost closed year and is for in retirement
Esterhazy $XX facility expected million EBITDA. million of additional produce in XXXX, leading to our than tonnes to potash Third KX higher tonnes adjusted to XXXX X is an in in XXX,XXX million $XX
$XX full a least executed, million. is Brazil, by synergies together finally, rate to improve results run initiatives with being realizing And expected new at in year of
path in So market in any million see additional to a adjusted clear in year an total, prices. changes before next we EBITDA $XXX
I With Joc. to over turn back will the call that,
