Solid First-Quarter Earnings Posted
Compass Minerals announced a decline in first quarter earnings as a result of continued mild winter weather and agricultural market weakness.
- Salt segment operating earnings increased 7 percent year-over-year, partially offsetting a 75 percent year-over-year decline in plant nutrition segment operating earnings
- Seventh consecutive quarter of year-over-year salt segment operating earnings margin improvement, adjusted for special items
- Restructuring plan, previously announced, underway to reduce costs and streamline structure
“Our strong 2015-2016 highway deicing bid season results helped mitigate the headwinds from mild winter weather in our salt business, while the sluggish agriculture market continued to impact our plant nutrition business this quarter,” said Fran Malecha, Compass Minerals’ president and CEO. “We are making progress with our initiatives to reduce costs, streamline the organization and build better businesses based on our strong assets. Following this down cycle, I believe Compass Minerals will be even better positioned to deliver increasing value for shareholders.”
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