Compass Minerals Reports Fourth-Quarter Snow-Event Data
Limited winter weather activity throughout Compass Minerals’ primary service areas significantly reduced demand for the company’s deicing products in the fourth quarter.
Eleven representative cities in the company’s primary North American highway deicing service area reported 17 snow events during the period, which was 64 percent below the 10-year average of 47.3 events. The same cities posted 35 events in the fourth quarter of 2014.
“While the key winter months are still ahead of us, fewer snow events combined with above-average temperatures thus far have significantly reduced salt demand. In addition, we continued to face headwinds in the agriculture market where customers have been hesitant to make purchases,” said Fran Malecha, Compass Minerals’ president and chief executive officer. “We have implemented cost-reduction measures where possible to mitigate the short-term impacts of mild winter weather and agricultural market softness.”