Compass Minerals Reports Second-Quarter 2020 Results
Today, the company reported that net earnings for the second quarter of 2020 were $1.7 million, or $0.04 per diluted share, compared to a net loss of $11.8 million, or $0.36 per diluted share, in the prior-year second quarter.
Compared to the same period last year, adjusted EBITDA of $62.3 million is up 44%. Results were primarily driven by strong growth in the company’s Salt and Plant Nutrition South America segments as well as improved execution across the company.
“Our strong results this quarter, achieved while facing the challenges of the COVID-19 pandemic, demonstrate the essential nature of our products, the resiliency of the core markets we serve and the deep commitment of our employees to safely serve our customers’ needs and execute on our strategic initiatives,” said Kevin S. Crutchfield, Compass Minerals president and CEO. “While we acknowledge the uncertainties that lie ahead given the ongoing pandemic, we are maintaining a sharp focus on those things we can control – operating safely and efficiently and executing on our enterprise-wide optimization efforts – in order to deliver value for our shareholders, customers and communities.”