Today, Compass Minerals reported consolidated revenue for fourth quarter and fiscal 2022, up 18% and 9% respectively, versus the comparable year-over-year period, driven primarily by strong Salt segment sales volumes.

“This was a transformative year for Compass Minerals, in which we took several strategic actions,” said Kevin S. Crutchfield, president and CEO. “Through our efforts to expand our essential minerals portfolio into the adjacent, high-growth markets of lithium and next-generation fire retardants, we are positioning ourselves for growth, reducing our weather dependency and building a foundation for long-term value creation. I am proud of our team for their commitment to safety and relentless focus on execution amid a year of significant headwinds, including ongoing inflationary pressures and sulfate of potash production challenges, which impacted the short-term financial performance of our Salt and Plant Nutrition segments. Our successful North America highway salt bid season has set the stage to improve Salt segment profitability in fiscal 2023.”

Other fourth-quarter and fiscal 2022 highlights reported by the company include:

• Average pricing for North America 2022-2023 highway deicing contracts expected to rise 15% and total committed bid volumes expected to decline by approximately 9%, compared to the prior year’s bid season
• Exceptional safety performance with Total Case Incident Rate of 1.27 for fiscal 2022, an approximately 56% improvement from the comparable year-over-year period
• Achieved several strategic milestones during fiscal 2022 and early fiscal 2023 related to efforts to expand essential minerals portfolio into the adjacent, high-growth markets of lithium and next-generation fire retardants

View the full release and Fourth-Quarter and Fiscal 2022 Business Update here.