Compass Minerals Reports Fourth-Quarter and Full-Year Results
Compass Minerals reported year-over-year revenue growth for both the fourth quarter and the full year of 2018 driven by strong underlying demand for its core, essential products. Fourth-quarter and full-year operating earnings declined 15 percent and 18 percent respectively from 2017 results. When excluding the negative impacts of foreign exchange translation, fourth-quarter and full-year operating earnings declined 10 percent and 12 percent, respectively, from prior-year results. Despite these challenges to earnings, the company generated significant year-over-year growth in cash flow from operations for the fourth quarter and the full year.
“Our fourth-quarter and full-year results demonstrate the strong, cash-generating capability of Compass Minerals, even when faced with headwinds,” said Dick Grant, Compass Minerals’ chairman of the Board and interim CEO. “Despite lower than expected production at the Goderich mine since the end of the strike in July, we have largely met our customers’ demand for highway deicing salt, and we continue to drive solid results throughout our Plant Nutrition business. With the recent progress we have seen at Goderich mine and the strength in our plant nutrition markets, we expect to generate solid 2019 earnings growth.”
View the full release and updated summary of the company’s performance here.