Compass Minerals Q1 2023 Earnings Report

Estimated Revenue:$361M

-0.4% YoY

Estimated EPS:$0.539

+25.3% YoY

Key Takeaways

Compass Minerals reported a 6% year-over-year increase in consolidated revenue, driven by strong pricing in both Salt and Plant Nutrition businesses and improved Salt volumes. Consolidated operating earnings increased by 37% to $27.9 million, and adjusted EBITDA improved by 6% to $61.8 million.

Generated 6% year-over-year growth in consolidated revenue driven by strong pricing in both Salt and Plant Nutrition businesses and improved Salt volumes.

Continued on path to fully restoring Salt segment profitability to historic levels with first quarter operating earnings and EBITDA increasing 17% and 7%, respectively, year over year on a per-ton basis.

Closed the gross $252 million strategic equity investment by Koch Minerals & Trading LLC (KM&T) with $200 million in proceeds expected to fund the first two years of phase-one lithium development; remaining net proceeds used to pay down debt during the quarter.

Progressed Fortress North America (Fortress), a next-generation fire-retardant company of which Compass Minerals owns 45%, toward full commercialization through the qualification of two aerial long-term fire retardants on the U.S. Forest Service’s (USFS) Qualified Product List (QPL).

Previous year: $59.9M

+16.9%

Cash and Equivalents