- 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.
|Compass Minerals Financial Results|
|(in millions, except for earnings per share)|
|Three months ended||Nine months ended|
|September 30,||September 30,|
|Sales less shipping and handling costs (product sales)||140.3||140.1||542.2||497.5|
|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|