Compass Minerals Intl Inc Stock Price, News & Analysis

Compass Minerals (NYSE: CMP) announced the appointment of Richard P. Dealy to its board of directors, expanding the board from eight to nine members. Dealy, who has extensive financial and operational experience, currently serves as president and COO of Pioneer Natural Resources. His background includes 16 years as EVP and CFO at Pioneer. This addition is expected to enhance the company's focus on growth, particularly in lithium and fire retardants, as stated by board chairman Joe Reece.

Compass Minerals (NYSE: CMP) reported a fiscal 2022 second-quarter revenue of $449 million, marking a 5% year-over-year increase. The growth was driven by higher sales volumes in highway deicing and Plant Nutrition, despite profitability being impacted by rising production and distribution costs. Notably, the company raised its annual lithium production capacity forecast to 30-40 kMT from 20-25 kMT. However, it adjusted its fiscal 2022 EBITDA guidance down to $170-$200 million from $200-$235 million due to inflationary pressures and production challenges.

Compass Minerals (NYSE: CMP) will release its fiscal 2022 second-quarter results on May 5, 2022, after market close. A conference call led by CEO Kevin Crutchfield and CFO Lorin Crenshaw is scheduled for May 6, 2022, at 8:30 a.m. ET. Investors can access the call via webcast at investors.compassminerals.com or by phone using conference ID 3632674. Compass Minerals provides essential minerals, focusing on safety and sustainability, with products for road safety, agriculture, and developing lithium resources.

Compass Minerals has finalized the sale of its South America chemicals business to a subsidiary of Cape Acquisitions LLC, completing its exit from the Brazilian market. The all-cash deal netted the company approximately $51 million in proceeds, which will primarily be used to reduce debt. CEO Kevin S. Crutchfield emphasized the company’s focus on optimizing its asset base and enhancing value within its core Salt and Plant Nutrition sectors. The transaction reflects Compass Minerals' strategic shift towards core operations and debt reduction.

Compass Minerals (NYSE: CMP) recently announced an earnout payment of approximately $18.5 million related to the sale of its South America specialty plant nutrition business. This payment represents the maximum earnout possible under the sale terms finalized in July 2021. The company plans to utilize these proceeds to reduce its debt, further strengthening its financial position.

Compass Minerals (NYSE: CMP) reported above-average winter weather activity in fiscal 2022 Q2, with 114 snow events, 10% over the 10-year average. This increase helped bring winter conditions closer to the average for the fiscal year. The company sold approximately 4.8 million tons of highway deicing salt products in Q2, rising from 4.6 million tons year-over-year. Despite a slow start to the season, CEO Kevin S. Crutchfield emphasized ongoing efforts to recover inflationary costs and restore profitability in the Salt business.

Compass Minerals (NYSE: CMP) has announced the appointment of Edward C. Dowling, Jr. to its board of directors, enhancing its leadership team with over 30 years of experience in minerals mining. Dowling's past roles include CEO of Alacer Gold and executive positions at Meridian Gold and De Beers. He will serve on the Compensation and Environmental, Health, Safety and Sustainability Committees, expanding the board from seven to eight members. His proven track record in value creation is expected to support the company's goal of maximizing shareholder value.

The board of directors of Compass Minerals (NYSE: CMP) has declared a quarterly cash dividend of $0.15 per share, set to be paid on March 21, 2022. Shareholders of record as of March 10, 2022 will receive this dividend. Compass Minerals is known for its essential minerals, including salt for winter road safety and products that enhance crop yield through sustainable agriculture. The company operates 15 facilities across North America, the U.K., and Brazil, employing over 2,000 people.

Compass Minerals (NYSE: CMP) will participate in the Cowen Mobility Disruption Conference on March 3, 2022. The conference is virtual, featuring one-on-one meetings with key management including President Kevin Crutchfield and Chief Financial Officer Lorin Crenshaw. The company is a global provider of essential minerals, with products supporting road safety, agriculture, and water treatment. Presentation materials will be available via the investor relations section of compassminerals.com.