This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Compass Minerals Reports Third-Quarter Results

Stocks in this article: CMP

Compass Minerals (NYSE: CMP) reports the following results of its third-quarter 2013 operations:

  • Net earnings improved 64 percent to $15.4 million, or $0.46 per diluted share, from $9.4 million, or $0.28 per diluted share, in the third quarter of 2012. Excluding special items, the prior-period results were $10.3 million, or $0.31 per diluted share.
  • Sales were $184.7 million compared to $181.0 million in the 2012 third quarter. A 16 percent increase in salt sales was partially offset by a 29 percent decline in specialty fertilizer sales as growers delayed purchasing fertilizer due to recent developments in fertilizer markets.
  • Operating income climbed 64 percent to $23.1 million from $14.1 million in the third quarter of 2012. This improvement was driven primarily by higher salt sales volumes and lower per-unit salt costs.
  • Cash flow from operations for the nine months ended September 30, 2013, was $142.1 million, increasing from $132.2 million in the 2012 period.
  • Adjusted EBITDA* increased to $41.1 million from $29.8 million in the prior-year period and the Adjusted EBITDA margin expanded to 22 percent from 16 percent.

“Our performance this quarter demonstrates the benefits of our balanced portfolio of minerals,” said Fran Malecha, Compass Minerals president and CEO. “Our salt segment sales are improving as we expected, and we are seeing improved margins as a result of more typical demand. Meanwhile our marketing of the benefits of sulfate of potash over standard potash to growers of specialty crops continues to sustain our premium specialty fertilizer pricing in North America.”

*Earnings before interest, taxes, depreciation and amortization. This is a non-GAAP financial measure. Reconciliations to GAAP measures of performance are provided in tables at the end of this release.


Compass Minerals Financial Results

(in millions, except for earnings per share)

  Three months ended   Nine months ended
September 30, September 30,
2013   2012 2013   2012
Sales $184.7 $181.0 $742.2 $674.8
Sales less shipping and handling costs (product sales) 140.3 140.1 542.2 497.5
Operating earnings 23.1 14.1 105.3 91.0
Operating margin 13% 8% 14% 13%
Net earnings 15.4 9.4 72.4 58.8
Net earnings, excluding special items* 15.4 10.3 72.4 70.1
Diluted earnings per share 0.46 0.28 2.15 1.75
Diluted earnings per share, excluding special items* 0.46 0.31 2.15 2.09
EBITDA* 41.2 30.1 161.9 133.8
Adjusted EBITDA*   41.1   29.8   158.7   138.2

*These are non-GAAP financial measures. Reconciliations to GAAP measures of performance are provided in tables at the end of this release.


Sales of salt products increased to $142.6 million from $122.5 million in the third quarter of 2012. A year-over-year increase in pre-season highway deicing restocking resulted in a 30 percent increase in sales volumes and a more favorable product mix that produced a 2 percent improvement in average selling price. Consumer and industrial sales volumes improved 6 percent year-over-year, while average selling price dropped 1 percent.

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs