Prices Cut Compass Minerals' Profits

摘要

Compass Minerals reported second quarter earnings of $11.3 million, down 20% from the same year-ago quarter. Sales increased 12%, to $179 million. Earnings per share, excluding special items, of 51 cts/share beat Wall Street's view of 42 cts/share, as reported by Thomson One (New York). The company says stronger specialty fertilizer and highway deicing sales and improved salt pricing were offset by lower specialty fertilizer prices. Sale increased 14%, to $134.6 million, although higher input costs drove the segments earnings down 30%, to $13.4 million. The company cut production during the quarter to offset high inventories following a mild winter.