Mosaic Company (The)

Good morning, ladies and gentlemen, and welcome to the Mosaic Company's first quarter 2021 earnings conference call. At this time, all participants have been placed in a listen-only mode. After the company completes their prepared remarks, the lines will be open to take your questions. Your host for today's call is Laura Gagnon, Vice President, Investor Relations of the Mosaic Company. Ms. Gagnon, you may begin.

Thank you, and welcome to our first quarter 2021 earnings call. Opening comments will be provided by Jocko Roark, President and Chief Executive Officer, followed by a fireside chat as well as open Q&A. Clint Preland, Senior Vice President and Chief Financial Officer, and Jenny Wang, Vice President, Global Strategic Marketing, and other members of the leadership team will also be available to answer questions. We will be making forward-looking statements during this conference call. The statements include but are not limited to statements about future financial and operating results. They are based on management's beliefs and expectations as of today's date and are subject to significant risks and uncertainties. Actual results may differ materially from projected results. Factors that could cause actual results to differ materially from those in the forward-looking statements are included in our press release furnished yesterday and in our reports filed with the Securities and Exchange Commission. We will also be presenting certain non-GAAP financial measures. Our fourth quarter press release performance data attached as exhibits to yesterday's Form 8K filing also contain important information on these non-GAAP measures. Now, I'd like to turn the call over to Chuck.

Good morning. Thank you for joining our call today. Mosaic delivered excellent results in the quarter, with revenues up almost 30% year over year, and the gross margin rate at the highest level since early 2017. And our momentum continues to build. Higher fertilizer prices, driven by very strong global demand, tight supply, and excellent agricultural fundamentals, combined with our significantly improved cost structure, lead us to a positive outlook for the remainder of the year. Laura, let's move on to the analyst questions.