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Mar 31, 2021
Compass Minerals Q1 2021 Earnings Report
Reported strong first-quarter results driven by improved per-unit operating cost performance and strong sales volumes of highway deicing products within the Salt segment.
Key Takeaways
Compass Minerals reported significant year-over-year increases in operating earnings and adjusted EBITDA from continuing operations during first-quarter 2021, primarily driven by improved per-unit operating cost performance and strong sales volumes of highway deicing products within the company's Salt segment.
Realized Salt segment operating earnings of $80.1 million for the first quarter of 2021, up 41% versus the prior-year period.
Salt segment achieved lowest first-quarter operating cost per ton since 2016.
Strengthened pricing for the company's Protassium+® sulfate of potash (SOP) product to approximately $573 per ton, an improvement of 5% versus fourth-quarter 2020 pricing.
Announced approximately $478 million year-to-date in sale agreements for our South America specialty plant nutrition business and for a component of our North America micronutrient business, the latter of which closed on May 4, 2021, together expected to reduce leverage and allow the company to focus on its core operations.
Compass Minerals
Compass Minerals
Forward Guidance
Compass Minerals is adjusting its full-year 2021 EBITDA outlook for continuing operations to $270 million to $295 million from our prior pro forma outlook of $250 million to $280 million.