- Sales increased to $186.6 million from $173.8 million in the second quarter of 2013, as a 49 percent increase in sales from the recently expanded and renamed plant nutrition segment more than offset a 7 percent decline in salt segment sales.
- Operating earnings were $13.4 million compared to $14.7 million in the prior-year quarter, as increased earnings from the plant nutrition segment were offset by lower salt segment earnings.
- Adjusted EBITDA* totaled $32.2 million compared to $32.8 million in the prior year.
- Costs related to early debt redemption and an increase in the company’s expected full-year tax rate resulted in a net loss of $0.7 million, or $0.02 per diluted share. Excluding the debt redemption costs, net earnings were $4.4 million, or $0.13 per diluted share. In the second quarter of 2013, net earnings were $10.6 million, or $0.32 per diluted share.
- The North American highway deicing bidding for the 2014-2015 winter season is approximately three-fourths complete. To date, average awarded prices have increased more than 20 percent from last year’s bid awards.
|Compass Minerals Financial Results|
|(in millions, except for earnings per share)|
|Three months ended June 30,||Six months ended June 30,|
|Sales less shipping and handling (product sales)||141.8||133.5||433.1||401.9|
|Net earnings (loss)||(0.7||)||10.6||49.5||57.0|
|Net earnings, excluding special items*||4.4||10.6||54.6||57.0|
|Diluted earnings per share (loss)||(0.02||)||0.32||1.47||1.69|
|Diluted per-share earnings, excluding special items*||0.13||0.32||1.62||1.69|