Second-Quarter Earnings Posted
Compass Minerals reported mixed second-quarter 2016 results as an increase in salt operating earnings partially offset a significant decline in plant nutrition operating earnings.
- Second-quarter record for salt segment operating earnings
- Continued weakness in plant nutrition segment
- Reducing full-year earnings per share guidance due to lower highway deicing and sulfate of potash expectations
- Execution of major capital projects on track
“Compass Minerals continued to benefit from the resilient nature of our salt business, which provided some offset to the negative impact of the weak agriculture market,” said Fran Malecha, Compass Minerals’ president and CEO. “Looking forward, our focus is on managing the downward pressures on both our businesses by matching production with demand in the most cost-effective manner possible. Additionally, we are completing the investments necessary to ensure our key assets are prepared to support future growth as our markets recover.”