Compass Minerals Reports Strong First-Quarter 2021 Results
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Compass Minerals (NYSE: CMP), a leading global provider of essential minerals, today reported significant year-over-year increase in operating earnings and adjusted EBITDA* from continuing operations during first-quarter 2021, primarily driven by improved per-unit operating cost performance and strong sales volumes of highway deicing products within the company's Salt segment.
PRESENTATION OF RESULTS
In March 2021, the company’s board of directors approved the divestiture of the company’s South America businesses and its North America micronutrient business as part of the company’s broader asset optimization strategy. Collectively, the results of these businesses have been reported as discontinued operations for all periods presented.
The continuing operations of the company are reported on the consolidated level and in two segments: Salt and Plant Nutrition (which was previously known as Plant Nutrition North America). The results in this release reflect the continuing operations of the company unless otherwise noted.
(From continuing operations, in millions, except per share data) |
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Three Months Ended March 31, 2021 |
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Revenue |
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$ |
426.0 |
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Operating Earnings |
|
63.6 |
|
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Adjusted EBITDA* |
|
97.3 |
|
|
Net Earnings |
|
32.9 |
|
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Net Earnings per diluted share |
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0.95 |
|
|
*Non-GAAP financial measure. Reconciliations to the most directly comparable GAAP financial measure are provided in tables at the end of this press release.
HIGHLIGHTS