Compass Minerals Reports Fourth-Quarter and Full-Year 2019 Results
The company reported a fourth-quarter 2019 net earnings of $56.1 million, or $1.63 per diluted share, up 10% from fourth-quarter 2018. For the full-year, year-over-year growth in the company’s Salt segment revenue and earnings offset weaker results in its Plant Nutrition North and South America segments.
Fourth-quarter 2019 revenue of $500.3 million was up 3% from fourth-quarter 2018, while the full-year 2019 revenue of $1.5 billion was consistent with 2018 results.
“We closed 2019 with strong overall performance in our Salt business and sustained operational success within our Plant Nutrition North America business. Our Plant Nutrition South America business continued to deliver robust revenue growth in our direct-to-grower agriculture sales channel, which offset most of the impact of lower sales through distribution and a weaker local currency,” said Kevin S. Crutchfield, president and CEO. “Our leadership team has been extremely pleased with the strong production results at our North American salt mines, the resilience of the North American sulfate of potash (SOP) market and our enterprise-wide optimization efforts, all of which have positioned us to further grow earnings in 2020. After a deep consideration of our core competencies, we have initiated an evaluation of the long-term strategic fit of our Plant Nutrition South America business to determine the best options for unlocking the true value of these assets. While this evaluation could result in a variety of outcomes, we are committed to charting a strategic path forward that delivers increased value for all stakeholders.”
View the full release and Fourth Quarter 2019 Business Update here.