Compass Minerals Reports Solid Fourth-Quarter Earnings Boosted by Brazilian Acquisition
Compass Minerals posted solid fourth-quarter and full-year 2016 earnings driven by the resilient performance of the salt business and the contribution of the Brazilian specialty plant nutrition company, Produquímica, which was acquired on October 3, 2016. The company also benefited in the fourth quarter from improved demand for its sulfate of potash products in North America.
“Each of our key businesses ended the year with positive momentum based on improving market conditions. We’ve experienced more typical winter weather, which is driving salt sales volumes above prior year, and demand for our portfolio of specialty plant nutrients was robust in South America and improved in North America,” said Fran Malecha, Compass Minerals’ president and CEO. “As we enter 2017, we expect to build on this momentum, capitalize on improving underlying market fundamentals and continue executing on our strategy to diversify and strengthen our company.”
View the complete release and presentation here.