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Compass Minerals International, Inc. (NYSE: CMP) is a leading provider of essential minerals that address nature's challenges and improve quality of life. The company is headquartered in the Kansas City metropolitan area and operates mineral production facilities across the U.S., Canada, and the U.K.
Core Business: Compass Minerals specializes in two primary products: salt and specialty plant nutrition minerals. The company's salt products are essential for winter roadway safety, industrial processes, and consumer needs. Their specialty plant nutrition products, derived from sulfate of potash and magnesium chloride, are crucial for enhancing crop quality and yield.
Product Portfolio: The company offers a diverse range of products including:
- Bulk treated and untreated highway deicing salt for North America and the U.K.
- Consumer deicing and water conditioning products.
- Commercial and consumer culinary salt.
- Mineral-based agricultural solutions and industrial applications.
Major Operations: Compass Minerals' key assets are strategically located. They include rock salt mines in Ontario, Canada, Louisiana in the U.S., and the U.K. In Utah, the company's brine operation at the Great Salt Lake produces sulfate of potash, catering to high-value crop growers sensitive to standard potash.
Recent Achievements and Projects: Compass Minerals has recently focused on enhancing its production capabilities and expanding its market reach. The company continually invests in technology to improve efficiency and sustainability in its operations. Additionally, partnerships with industry leaders are enhancing their offerings and market footprint.
Financial Condition: Compass Minerals maintains a strong financial position, supported by consistent demand for its products in both consumer and industrial sectors. The company's strategic initiatives aim to further solidify its market position and drive long-term growth.
For more information, visit Compass Minerals.
Compass Minerals (NYSE: CMP) reported strong first-quarter 2021 results, showcasing substantial year-over-year growth in operating earnings and adjusted EBITDA*, primarily due to lower operating costs and high sales volumes of deicing products within its Salt segment.
The company also announced the divestiture of its South America and North America micronutrient businesses, aligning with an asset optimization strategy, with these results categorized as discontinued operations. Key figures include revenue of $426 million, operating earnings of $63.6 million, adjusted EBITDA of $97.3 million, and net earnings of $32.9 million, translating to a net earnings per diluted share of $0.95.
Koch Agronomic Services has completed its acquisition of Compass Minerals' North American micronutrient assets, including trademarks, patents, and specific product platforms such as Wolf Trax® and Rocket Seeds®. This acquisition aims to enhance Koch's commitment to improving nutrient efficiency for growers globally. The integration of these products into Koch's existing portfolio is expected to bolster their position as a leader in nutrient efficiency solutions. The transaction aligns with Koch's strategy to innovate and expand its offerings in agricultural solutions.
Compass Minerals (NYSE: CMP) announced it will release its first-quarter 2021 financial results on May 4, 2021, after market close. President and CEO Kevin Crutchfield, along with CFO Jamie Standen, will hold a conference call on May 5 at 10 a.m. ET to discuss the results. Investors can access the call at investors.compassminerals.com or by dialing in. An updated corporate presentation will also be available, providing insights into the company’s performance.
Compass Minerals (NYSE: CMP) recently reported below-average winter weather in its North American market for Q1 2021, resulting in a slightly below-average season overall. The company recorded 100 snow events, 8% below the 10-year average, yet saw a significant rise in highway deicing sales volumes, with approximately 4.6 million tons sold compared to 3.1 million tons in Q1 2020. CEO Kevin Crutchfield noted strong demand and strategic progress, including new asset sales and a collective bargaining agreement, setting a positive course for the year ahead.
Compass Minerals (NYSE: CMP) announced a definitive agreement to sell its North America micronutrient assets to Koch Agronomic Services for approximately $60.25 million. This strategic move aims to optimize its asset portfolio and focus on core operations, including salt production and specialty fertilizers. The sale includes intellectual property and ongoing research for the Wolf Trax, Rocket Seeds, and Hydro Bullet product lines. The transaction is expected to close in the second quarter of 2021, enhancing Compass Minerals' balance sheet.
Koch Agronomic Services has agreed to acquire Compass Minerals' North American micronutrient assets, including trademarks and patents for the Wolf Trax®, Rocket Seeds®, and Hydro Bullet™ product lines. This acquisition will enhance Koch's nitrogen management solutions, enabling better nutrient efficiency for growers globally. The deal is projected to close in April 2021, subject to customary conditions. Compass Minerals expressed confidence in Koch's capacity to further develop these micronutrient products, which are essential for sustainable agriculture.
Compass Minerals (NYSE: CMP) announced that unionized employees at its Goderich mine have ratified a new five-year collective bargaining agreement (CBA). This CBA marks the longest agreement in the mine's history since its opening in 1959. The agreement emphasizes fair treatment for employees and clarifies various operational protocols while establishing a competitive pay and benefits package. Company executives expressed optimism about the potential for growth at the Goderich mine, contingent upon collaboration with the workforce.
Compass Minerals (NYSE: CMP) announced a definitive agreement to sell its South America specialty plant nutrition business to ICL Brasil Ltda. for approximately R$2.21 billion ($418 million). The deal aims to strengthen Compass' balance sheet and reduce its leverage ratio from 4.3 to 3.4 times net debt to EBITDA by year-end 2021. The transaction is set to close in Q3 2021, pending regulatory approvals. Additional earn-out of up to R$88 million may be payable in 2022, contingent on performance targets. Compass will continue to operate its remaining North American and U.K. businesses.
Compass Minerals (NYSE: CMP) has launched Hydro Bullet™, a new line of liquid foliar fertilizers aimed at enhancing crop performance. The product range includes three formulations—Battalion™, Big Iron, and Bloom—designed to meet specific agronomic challenges and promote optimal plant growth. With a focus on sustainable agriculture, these innovative products aim to improve nutrient uptake and crop yield while addressing issues like abiotic stresses. The initiative underscores Compass Minerals' commitment to supporting farmers with high-quality, research-driven solutions.
The board of directors of Compass Minerals (NYSE: CMP) has declared a quarterly cash dividend of $0.72 per share, payable on March 19, 2021. Shareholders of record as of the close of business on March 10, 2021 will be eligible for this payment. Compass Minerals is a major provider of essential minerals, operating 21 production facilities across the U.S., Canada, Brazil, and the U.K. Its products play a crucial role in road safety during winter and support agricultural productivity through innovative nutrition solutions.
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