Compass Minerals Intl Inc Stock Price, News & Analysis

Compass Minerals (NYSE: CMP) has announced a $252 million investment from Koch Minerals & Trading to advance the phase-one development of its lithium project at the Great Salt Lake. This partnership aims to leverage synergies for enhanced value creation across Compass Minerals' operations. Approximately $200 million will fund initial lithium development, targeting a production capacity of 35 kMT LCE by 2025. The remaining $52 million will reduce debt, realigning capital structure with growth strategies. Post-transaction, Koch will own around 17% of Compass Minerals' shares.

Compass Minerals (NYSE: CMP) has declared a quarterly cash dividend of $0.15 per share, which will be payable on Sept. 20, 2022, to shareholders of record by the close of business on Sept. 9, 2022. The company, recognized for its essential minerals, operates 12 facilities across the U.S., Canada, and the U.K., providing products for various applications, including safety on roadways, agriculture, and sustainable resources like lithium brine.

Compass Minerals (NYSE: CMP) reported an 8% revenue increase to $215 million for Q3 2022, driven by a 36% rise in Plant Nutrition pricing. Despite growth, the company faced operating losses of $3.5 million due to rising production costs, particularly in the Salt segment. Total cash flow from operations decreased by $48.2 million year-over-year. The company narrowed its fiscal 2022 consolidated adjusted EBITDA guidance to $175-$195 million, reflecting ongoing margin compression. The Salt segment anticipates a 14% increase in average contract prices for the upcoming winter season.

Compass Minerals (NYSE: CMP) will host two important conference calls in August and September 2022. The fiscal 2022 third-quarter results will be released on August 4, 2022, followed by a detailed discussion on August 5, 2022, at 8:30 a.m. ET. Additionally, a call addressing updates on the lithium development project will take place on September 15, 2022, also at 8:30 a.m. ET. Both sessions will be accessible via webcast and will feature key executives including CEO Kevin Crutchfield and CFO Lorin Crenshaw.

Compass Minerals (NYSE: CMP) has signed a non-binding memorandum of understanding (MOU) with Ford Motor Company (NYSE: F) to explore supplying battery-grade lithium from its Ogden, Utah facility. This collaboration is expected to secure a substantial portion of Compass' lithium production beginning in 2025, contributing to an anticipated annual capacity of 30 kMT to 40 kMT of lithium carbonate equivalent. The MOU follows a similar agreement with LG Energy Solution, marking a significant step in supporting North America's electric vehicle market.

Compass Minerals (NYSE: CMP) has appointed Melissa M. Miller to its board of directors, expanding the board to 10 members. With over 20 years of HR experience, Miller will serve on the Environmental, Health, Safety and Sustainability Committee and the Nominating/Corporate Governance Committee. Her leadership roles include serving as the executive vice president and chief HR officer at Arconic Corporation. Chairman Joe Reece emphasized the importance of her experience in enhancing workforce engagement and attracting diverse talent, which is crucial for value creation.

Compass Minerals (NYSE: CMP) has signed a non-binding Memorandum of Understanding (MOU) with LG Energy Solution to supply battery-grade lithium from its Ogden, Utah, facility. The agreement spans seven years, committing at least 40% of initial production, estimated at 10 kMT lithium carbonate equivalent (LCE) starting in 2025, with an option for additional supply as production scales up. The company aims to bolster the North American lithium supply chain and support LGES's U.S.-based operations, as it pursues a sustainable lithium brine resource from the Great Salt Lake.

Compass Minerals (NYSE: CMP), a top global provider of essential minerals, will join the Loop Capital Markets 2022 Investor Conference virtually on June 1, 2022. Senior management, including Chief Financial Officer Lorin Crenshaw and Head of Lithium Chris Yandell, will engage in one-on-one meetings. Conference materials will be available on compassminerals.com during the event. The company specializes in salt and plant nutrition products while developing sustainable lithium brine resources to support the North American battery market.