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 First-Quarter 2014 Results

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

  • Net earnings were $50.2 million, or $1.49 per diluted share, an 8 percent increase from first-quarter 2013 results.
  • Sales increased to $422.0 million from $383.7 million in the prior-year period. Continued severe winter weather in North America boosted salt segment sales by 8 percent, while steady demand lifted specialty fertilizer segment sales by 22 percent.
  • First-quarter operating earnings were $67.0 million compared to $67.5 million in the 2013 quarter primarily as the benefit from higher sales volumes was suppressed by lower North American highway deicing prices that were established during last summer’s bid process.
  • Adjusted EBITDA* was $85.4 million compared to $84.8 million in the prior-year quarter.
  • The company generated $160.7 million in cash flow from operations, a $31.9 million increase from the 2013 quarter’s results.

“Severe winter weather in North America drove salt sales volumes to their highest quarterly level since 2008, and our specialty fertilizer segment generated record first-quarter revenue from robust early spring demand for our sulfate of potash products,” said Fran Malecha, Compass Minerals president and CEO. “These improved market conditions have created positive momentum for both businesses for the remainder of 2014.”

*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

(dollars in millions, except for earnings per share)

    Three months ended March 31,
  2014         2013  
Sales $ 422.0 $ 383.7
Sales less shipping and handling costs (product sales) 291.3 268.4
Operating earnings 67.0 67.5
Operating margin 15.9 % 17.6 %
Net earnings 50.2 46.4
Diluted earnings per share 1.49 1.38
EBITDA* 88.5 85.2
Adjusted EBITDA*       85.4         84.8  

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

SALT SEGMENT

Widespread, severe winter weather throughout North America in the current quarter generated an 8 percent increase in salt segment sales from first-quarter 2013 results. Highway deicing sales volumes increased 9 percent as very strong North American winter demand was partially offset by mild weather in the U.K. The average selling price for highway deicing salt declined 6 percent, reflecting lower pricing from the prior-year’s North American bid season. Consumer and industrial salt sales volumes spiked 22 percent, and the average selling price for these products climbed 3 percent due to an improved contribution from higher-priced consumer and professional deicing products.

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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 17,131.97 +100.83 0.59%
S&P 500 1,999.38 +15.25 0.77%
NASDAQ 4,554.1040 +35.2020 0.78%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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