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NEW YORK – Compass Minerals Worldwide Inc (NYSE:CMP) reported fourth quarter outcomes that missed analyst expectations on each the highest and backside traces, sending shares down 6% in after-hours buying and selling on Monday.
The important minerals supplier posted a lack of $0.77 per share for the quarter, wider than the $0.44 loss analysts had been anticipating. Income got here in at $208.8 million, falling in need of estimates for $232.77 million.
“There isn’t a doubt that 2024 was a transitional 12 months for our firm,” stated CEO Edward C. Dowling Jr. “We made the essential strategic choice to get ‘again to fundamentals’ by refocusing on our core Salt and Plant Diet companies.”
For the complete fiscal 12 months 2024, Compass Minerals reported a internet lack of $206.1 million, pushed by important non-cash impairments totaling $191 million throughout its Lithium, Hearth Retardant and Plant Diet companies.
Waiting for fiscal 2025, the corporate expects Salt gross sales volumes to extend roughly 9% over 2024 ranges. Nevertheless, North American freeway deicing costs are projected to be down about 2% with dedicated volumes down roughly 9% following the latest bid season.
The corporate’s Plant Diet section earnings are anticipated to be in keeping with 2024, as decrease sulfate of potash pricing is offset by bettering volumes and decrease forecasted manufacturing prices.
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