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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) 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.
Compass Minerals (NYSE: CMP) reported its fourth-quarter and full-year 2020 results, revealing a revenue of $421.1 million for Q4 and $1.373 billion for the full year. Operating earnings were $54.4 million for Q4 and $140.5 million for the year, with net earnings of $32.3 million and $59.5 million, respectively. The company faced challenges due to weaker winter weather, COVID-19 impacts, and a 23% decrease in sales volumes in its Salt segment. Despite challenges, the Goderich mine showed production efficiency gains, and the company is strategically separating its South American assets to maximize value.
Compass Minerals (NYSE: CMP) is set to unveil its fourth-quarter and full-year 2020 financial results on February 16, 2021, after market closure. President and CEO Kevin Crutchfield, along with CFO Jamie Standen, will discuss these results during a conference call scheduled for February 17 at 11 a.m. ET. Interested participants can access the call via investors.compassminerals.com or by phone at 1-833-900-1533 (conference ID: 1507337).
Compass Minerals (NYSE: CMP) reported that fourth-quarter 2020 winter weather activity in North America was below 2019 levels but aligned with the historic 10-year average. The company recorded 2.2 million tons of highway deicing salt sold, down from 2.9 million tons the previous year. December saw an unusual concentration of snow events, impacting salt sales. Despite this, the company expressed optimism about operational efficiency and ongoing optimization efforts. Full effects of salt sales are expected in Q1 2021 as inventory replenishment begins.
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