Compass Minerals Reports Second-Quarter 2018 Results
Compass Minerals reported a second-quarter net loss of $7.6 million, or $0.23 per diluted share, compared to a net loss of $6.4 million, or $0.19 per diluted share, in the prior-year period. Operating earnings in the second quarter declined 53 percent from 2017 results due to increased depreciation expense. Adjusted EBITDA increased 13 percent from second-quarter 2017 results.
“Our second quarter is typically our lowest earnings period, however I am pleased that we delivered top-line growth across all our businesses. This provides a strong indicator that the fundamental market conditions for our businesses globally have continued to improve in 2018,” said Fran Malecha, Compass Minerals’ president and CEO. “I believe we are now better positioned to deliver on our efficiency investments in our salt business, drive growth in our specialty plant nutrition business and capitalize on strong grower economics in South America.”
The full release and presentation can be viewed here.