Shares of Mosaic (MOS) experienced a significant 24-hour plunge of 8.32% on Tuesday, following the release of the company's second-quarter earnings report that fell short of analyst expectations. The fertilizer producer's disappointing results have raised concerns about its performance in a challenging market environment.

Mosaic reported adjusted earnings per share (EPS) of $0.51, significantly below the consensus estimate of $0.73, representing a substantial miss of 30.1%. The company's revenue also fell short of expectations, coming in at $3.01 billion versus the anticipated $3.14 billion. These results indicate that Mosaic is facing headwinds in its core business segments, with higher costs weighing on profits.

Despite the earnings miss, Mosaic provided guidance for the upcoming quarter and full year. The company expects third-quarter phosphate sales volumes to be between 1.8 and 2.0 million tonnes. For the full year, Mosaic projects phosphate production volumes to range from 6.9 to 7.2 million tonnes, with total capital expenditures forecasted between $1.2 billion and $1.3 billion. These forward-looking statements suggest that Mosaic is working to navigate the current market challenges and maintain its operational targets, but investors remain cautious about the company's near-term prospects.