The Mosaic Company MOS is a leading producer and marketer of concentrated phosphate and potash for the global agriculture industry. It is the largest producer of finished phosphate products globally.Mosaic remains committed to expand its annual potash production capacity. However, the company is facing a challenging business environment in agriculture and is seeing weak demand for nutrients. The company is also exposed to a weak pricing environment.Let’s have a quick look at this fertilizer company’s first-quarter release.Estimate Trend & Surprise HistoryInvestors should note that the earnings estimate for Mosaic for the first quarter has remained static over the past month. Mosaic has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters with an average positive surprise of 12.10%.EarningsMosaic’s adjusted earnings were 14 cents per share for the quarter, in line with the Zacks Consensus Estimate.RevenuesMosaic recorded net sales of $1,674 million, down roughly 21.7% year over year. That beat the Zacks Consensus Estimate of $1,604 million.Key Stats/Developments to NoteMosaic expects phosphates sales volumes in the band of 2.3 million to 2.6 million tons for the second quarter of 2016 versus 2.8 million tons for the same quarter in 2015. Potash sales volumes have been forecast in the range of 1.9 million to 2.2 million tons for the second quarter, lower than the 2.3 million tons in the prior year quarter.Zacks RankMosaic currently has a Zacks Rank #5 (Strong Sell), but that could change following the company’s earnings report which was just released.Market ReactionMosaic’s shares were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.Check back later for our full write up on Mosaic’s earnings report!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MOSAIC CO/THE (MOS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research