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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) 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.
The board of directors of Compass Minerals has announced a quarterly cash dividend of $0.72 per share. This dividend will be paid on December 15, 2020, to shareholders on record as of the close of business on December 1, 2020. Compass Minerals is a key global provider of essential minerals, operating 21 production and packaging facilities across the U.S., Canada, Brazil, and the U.K. The company focuses on safe delivery of minerals for winter road safety, agriculture, and industrial processes.
Compass Minerals (NYSE: CMP) reported a net loss of $2.1 million, or $0.07 per diluted share, for Q3 2020, down from a profit of $10.6 million a year prior. The decline was mainly due to lower sales volumes in the Plant Nutrition segments caused by dry weather and wildfires, alongside a $7.4 million inventory adjustment. The Salt segment saw revenues of $141.3 million, an 11% decrease, yet operating earnings rose 21% to $25 million due to better operational efficiency. The 2020 EBITDA outlook was adjusted to $330-$345 million, reflecting ongoing challenges and a weakened Brazilian currency.
Compass Minerals (NYSE: CMP) will announce its third-quarter 2020 financial results on November 4, after market close. The CEO, Kevin Crutchfield, and CFO, Jamie Standen, will discuss the results during a conference call on November 5 at 11 a.m. ET. Investors can access the call via investors.compassminerals.com or by dialing 1-833-900-1533 with conference ID 1048236. A summary of the performance will be available on the website ahead of the call.
Midwestern BioAg Holdings announced the acquisition of Midwestern BioAg Inc. on September 9, 2020, providing significant capital infusion to bolster operations in sustainable agriculture. Michael Birger, previously with Compass, has been appointed as President and CEO. With over 20 years of experience in mergers, his leadership aims to enhance customer success and employee well-being. The company focuses on soil-centric management systems to improve crop yields sustainably. This strategic move is poised to shift farming practices positively while driving growth in the agriculture sector.
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