Increased winter weather events drive improved sales volumes versus
2016 results
OVERLAND PARK, Kan.--(BUSINESS WIRE)--Jan. 9, 2017--
Compass Minerals (NYSE: CMP) reported that above-average winter weather
in its primary North American service areas lifted fourth-quarter 2016
salt sales volumes above prior-year results.
Eleven representative cities in the company’s primary North American
highway deicing service area reported 50 snow events during the period,
compared to 17 in the fourth quarter of 2015 and the 10-year average of
42.2 events.
The company sold approximately 3.0 million tons of highway deicing salt
products in the fourth quarter of 2016, which was a 27 percent
improvement from 2015 fourth-quarter results. This total includes all
highway maintenance products sold in the U.S., Canada and the U.K., as
well as rock salt sold to the chemical industry. Sales of all salt
products reached 3.7 million tons in the 2016 period compared to 3.0
million tons in the fourth quarter of 2015.
“I am very encouraged by the strength of our salt sales results this
quarter, which are at the upper end of our guidance range,” said Fran
Malecha, Compass Minerals’ president and CEO. “If average snow events in
our markets continue throughout the remainder of winter, we would expect
improved market conditions for the highway deicing industry in 2017.”
The company’s fourth-quarter 2016 highway deicing sales volume and
regional weather data can be found on its website at www.compassminerals.com/investorresources.
The number of snow events reported may not directly correlate to Compass
Minerals’ deicing results due to a variety of factors, including the
relative significance to the company of the cities represented and
differences in the amount of salt purchased by customers to establish
their pre-season stockpiles. The weather data should be used only as an
indicator of the year-to-year variations in winter weather conditions in
these cities. Compass Minerals draws its weather data from the U.S.
National Weather Service and National Climatic Data Center and
Environment Canada without weighting or other adjustments.
About Compass Minerals
Compass
Minerals is a leading provider of essential minerals that
solve nature’s challenges, including salt for winter roadway safety and
other consumer, industrial and agricultural uses, and specialty plant
nutrition minerals that improve the quality and yield of crops. Named
one of Forbes’ 100 Most Trustworthy Companies in America in 2015 and
2016, Compass Minerals’ mission is to be the best essential minerals
company by delivering where and when it matters. The company produces
its minerals at locations throughout the U.S., Canada, Brazil and the
U.K. For more information about Compass Minerals and its products,
please visit www.compassminerals.com.
This press release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including without limitation statements about expected 2017 market
conditions. We use words such as “may,” “would,” “could,” “should,”
“will,” “likely,” “expect,” “anticipate,” “believe,” “intend,” “plan,”
“forecast,” “outlook,” “project,” “estimate” and similar expressions
suggesting future outcomes or events to identify forward-looking
statements or forward-looking information. These statements are based on
the company’s current expectations and involve risks and uncertainties
that could cause the company’s actual results to differ materially. The
differences could be caused by a number of factors, including without
limitation (i) weather conditions, (ii) pressure on prices and impact
from competitive products, (iii) any inability by the company to fund
necessary capital expenditures, (iv) foreign exchange rates and the cost
and availability of transportation for the distribution of the company’s
products, and (v) the ability to successfully integrate acquired
businesses. For further information on these and other risks and
uncertainties that may affect the company’s business, see the “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” sections of the company’s Annual
Report on Form 10-K for the year ended December 31, 2015 and its
Quarterly Reports on Form 10-Q for the quarters ended March 31, June 30
and September 30, 2016 filed with the SEC. The company undertakes no
obligation to update any forward-looking statements made in this press
release to reflect future events or developments. Because it is not
possible to predict or identify all such factors, this list cannot be
considered a complete set of all potential risks or uncertainties.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170109006379/en/
Source: Compass Minerals
Compass Minerals
Investor Contact
Theresa L.
Womble, +1-913-344-9362
Director of Investor Relations
womblet@compassminerals.com
or
Media
Contact
Tara Hart, +1-913-344-9319
Manager of Corporate
Affairs
MediaRelations@compassminerals.com