OVERLAND PARK, Kan.--(BUSINESS WIRE)--Compass Minerals (NYSE: CMP), a leading global provider of essential minerals, today reported fiscal 2025 first-quarter results.
Unless otherwise noted, it should be assumed that time periods referenced below are on a fiscal-year basis.
MANAGEMENT COMMENTARY
"This quarter we began to see results from our back-to-basics strategy and initiatives to reduce inventory volumes, improve our cost structure, and enhance profitability. Our efforts are expected to further strengthen our future financial performance, leveraging our exceptional set of unique assets that are virtually irreplaceable, enjoy durable competitive advantages and have strong leadership positions in their respective marketplaces," said Edward C. Dowling Jr., president and CEO.
"We made good progress on our goals of reducing our North American salt inventory volumes and improving the cost structure in our Plant Nutrition business. Despite a slow start to the winter deicing season, we saw salt inventory volumes decline 10% year over year through December and we still have a significant portion of the deicing season in front of us. We're well positioned to continue to reduce inventory levels in coming months, and our ability to toggle production at Goderich and Cote Blanche mines provides the flexibility to adjust production to meet increased demand next year if we see a stronger winter season. In Plant Nutrition, the efforts we are making to manage costs are taking root, which is enabling us to increase adjusted EBITDA guidance for the segment despite a decline in expected pricing due to softness in the MOP market. We will continue to focus on systems and processes where we can improve profitability and financial performance."
"We have a number of cost reduction initiatives underway to continue to drive down operating, capital, and general and administrative costs. Through operational and financial discipline and a commitment to continuous improvement, I'm confident we will improve the cash generation capability and unlock the intrinsic value embedded in our business."
| (in millions, except per share data) | Three Months Ended Dec. 31, 2024 |
Three Months Ended Dec. 31, 2023 |
||
|---|---|---|---|---|
| Revenue | $ | 307.2 | ||
| Operating earnings (loss) | 0.5 | |||
| Net loss | (23.6 | |||
| Adjusted EBITDA | $ | 32.1 | ||
| Total assets | $ | 1,720.9 |
SALT BUSINESS COMMENTARY
...