Compass Minerals Reports First Quarter 2018 Earnings
Compass Minerals reported net earnings of $12.6 million, or $0.37 per diluted share, for the quarter, compared to earnings of $21.5 million, or $0.63 per diluted share, in the prior-year period. While first-quarter 2018 revenue grew 13 percent from 2017 results, increased costs in the Salt and Plant Nutrition North America segments drove a 36 percent decline in operating earnings.
“We are encouraged by the return of winter weather both in the U.K. and North America as well as stable conditions in our agriculture markets, which have resulted in revenue growth for the company,” said Fran Malecha, Compass Minerals’ president and CEO. “With better deicing market fundamentals expected in the salt business as well as our strengthened portfolio of specialty plant nutrients and strong commercialization platform, we are poised to drive continued top-line growth for the rest of the year. In addition we are working diligently to improve our operations and increase our profitability.”
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