our morning. joining Good you Thank for call.
there for In addition to topics quarter, performance reviewing the discuss are key Mosaic's today. we'll X
highlights clear greater in the billion we shareholder XX% our First, the venture Exchanging value. value of provides with stake in unlocking to our MWSPC Ma'aden a in an announced approximately commitment position for capital joint $X.X flexibility indication and the transaction future. Ma'aden
are particularly picture will fundamentals we remain demand and low-capital improve good constructive cycle. and high-return, making third, that Second, is market fertilizer progress phosphate results initiatives commodity intensity several on And across the compelling. the supply
bode pricing and the strength prices now key the is of agricultural which the other spring As winds well in moderated, have emerging North America for demand fertilizer half season will fertilizer second year. planting in down geographies,
of results. adjusted adjusted of EBITDA areas, revenues tonnes. deeper summarize X.X volumes let dive billion. our million of The EBITDA first into generated Mosaic quarter million me million $XXX sales segment $X.X of Before on on Phosphates these generated $XXX I
remain stripping and first Solid prices phosphate substantially higher North the realized limited and demand levels. our in above margins American quarter, historical supply pushed
seasonal in sales the America. the the in of results segment this EBITDA higher seeing million higher toward on have prices segment North strong $XXX season. quarter. schedule mix to prices Global sourced generated a of Brazil, spring mitigate X.X of heavy impact million last as included turnaround sales parties including Potash of discussed in Our the The adjusted from we stabilized, third where benefits ] demand of [ reflecting we're tonnes, move safra head we
our management of Fertilizantes Mosaic $XX in ag the million quarter, to margin others the we insisting EBITDA risk volume. generated and quickly prioritize performance and high-cost from credit year, decisions inventory. sales year, resulting from is tonnes. million first navigating the contract divergence prioritizing on Brazil industry continued are sales worked For X.X made lower And of many the of over adjusted The Last to we've prepayments environment this liquidity by risk challenging through performance. demanding customers, and credit from we
were second expected. distribution half last improved and results better the in quarter first than Our margin year significantly of
very margin had the and also co-product We during strong performance volume quarter.
we're time, that environments strong the to focused At results. through we successfully show this Our ways. same shareholder working creating quarter results additional in on challenging value are drive
with MWSPC allows our nor investment involving capital future neither our any and this with Ma'aden will partnership friction. our time.
I also transparency flexibility tax Ma'aden shares in any approximately material transaction believe Ma'aden, transactions to of position redeployment note continue providing while will over we shares. billion XX% for transaction in is potential example that should increased the result that for Ma'aden in great This which successful position the an structure long-term A this exchange venture $X.X joint new
We returns. improved drive to other have several ongoing initiatives
$XX about first production Potash on cost delivering plan tonne year. million period cash prior reduction track in results. declined with early the quarter the $XXX cost in the in compared same is Our per
identified rightsizing annual are next cost XX complete. over third-party savings our in when reduce months, the in our which to contractors have opportunities $XX to workforce million million and $XX We will result
making first by quarter our our progress on a expenses or expense SG&A management. compared ago. million are $XX year We With down XX% with SG&A
plant the focused our and turnarounds, We improving service extensive a our are will the also year. Riverview activities in the project, and Hydrofloat quarter.
In the Louisiana improved capacity which on In next phosphate, second making will plans tonnes maintenance first New our on at of plants optimizing volume turnaround in good including and and we're Esterhazy us additional by potash, XXX,XXX in mid operations. at progress second of quarters be through Wales execution give the an
with construction the at agricultural are is blending access in northern the a Brazil. our The market of Palmeirante X plant project underway. region million-tonne of We expanding well fast-growing
and building expect currently next are warehouse the We to early and infrastructure electrical the year. support structure, buildings project complete
Riverview our be up, it of fully facility.
Once half We ramped phosphate value-added MicroEssentials have our at production U.S. the is over products. completed recently will higher-margin conversion
markets. are in We These closer improve on versus million at reduce the cycle. across take returns initiatives common. this year. that, by They expenditures year look in have let's capital all With $XXX to track and also a last agriculture our one fertilizer thing
for remain quite small places remain the While healthy rice a prices would to attractive farmers corn and Moreover, other have palm commodities, return soybean at and farm in profitability very profitable. Even lift such levels. oil many as prices levels. ag commodity softened these recently,
are growth in Niño is this as global be year. X/X addition, prove a shipment potash Southeast and region El shifting for of India the particularly we La positive Niña, from weather for In important about responsible Favorable will Southeast Asia, should strong which expect Asia rapidly to Brazil. conditions
limited North season Strong imports in to America, slowdown the price are demand and in exerted prices phosphate potash be India's for remain a the emerging. season. to has India solid and to a Malaysia palm versus downward in prices April. per January uptick very up this up India. were phosphate ] surely ago pushed on But Brazil, February, markets but seeing monsoon back inventories oil post-spring potash fact, SSP supply by availability XX% channel and seasonal on depleted the is is to In about in in tight, an exceed above-average ability Indonesia demand year will supply demand expected ratio.
Phosphate due demand of Brazilian expected safra export pressure year recent tonne in constructive the $XX The nation. for Chinese in [ to seasonal we China's
the the demand allow the continues outlook importer to producers be incentivize phosphate environment. is Indian time, there.
Longer historical to food to grains including limited coming and for XX% the and expect government supply is the The and to And exports increasing global send tonnes new and more positive. growing to from for very norms. produce uses, of shipments this in prices global in and production. structural Chinese returning, term, are strong weeks, continue current demand about expect North oilseeds Brazil At changes The positive MOP dynamics.
With picture thus, retail We pricing in maximum ahead. industrial is and and to increase battery demand supply in years to market resulting work Demand in we a Brazil for price but is global down same constructive economics year. to slowing, biofuels Southeast indication increase picking potash supply potash, in same is demand market America supply point the to up, occurring an Asia is recent potash fundamentals near seasonal the in sentiment phosphate dynamic and $XX in balanced, record
our to on moving outlook. Now
$XXX X.X million quarter we the damage facility volumes expect second to and tonne. X.X per at For sales caused million station. $XXX fire of pumps FOB to our at to prices of pipes, transfer The phosphogypsum phosphate, and average tonnes a Riverview plant
restore phosphoric weeks, that and acid production temporary enabled are us a engineered in back we X some at team full to Our solution now capacity. just
the and some volumes, reduction quarter was expect third overall, second in impact minimized. We sales the but
reflects second the partially fire, the of in the seasonal Brazil. the quarter ongoing guidance activity and the U.S., softening turnaround by improvements Our in offset impacts
tonnes to volumes tonne. mine $XXX X.X X.X average expect FOB second per million quarter price of we potash, sales the to $XXX For of at million and
Fertilizantes, Brazil's quarter environment. and the to For reflecting from our seasonality sales and profitability we expect operating first quarter, differentiated tackling to Mosaic second volumes improve approach
to in second We the quarter. activities weigh margins expect on production turnaround planned
we inventory recall, half the of last in the you year. first destocking As completed high-priced
expect we may the it to but margin be from market To tonne, positive. as vary of is season, year annualized per outlook $XX forward, to at for despite distribution our Going $XX the normal out we conclude, North level of planting quarter-to-quarter. the of America transition reset seasonal
We are to value. demonstrates, continue our executing near-term shareholder strengthen and taking long-term agreement as business with initiatives, maximize to Ma'aden our actions and
to on Now Q&A. we'll move
