OVERLAND PARK, Kan.--(BUSINESS WIRE)--
Compass Minerals (NYSE: CMP), a leading global provider of essential
minerals, reported today that fourth-quarter 2019 winter weather
activity in its North American-served market was above average, mainly
driven by strong snow activity in November. In addition, the company
reported a 4% increase in highway deicing salt sales volumes as
increased winter demand in North America was partially offset by warm
weather in the U.K.
Eleven representative cities in the company’s primary North American
highway deicing service area reported 49 snow events during the fourth
quarter of 2019 compared to 45 snow events in the fourth quarter of 2018
and the 10-year average of 41.8 events.
“We are pleased with the solid start to the 2019-2020 winter in North
America and the year-over-year increase in our Salt sales volumes,” said
Kevin Crutchfield, Compass Minerals president and CEO. “We also continue
to be encouraged by the performance of both our North American salt
mines and are well positioned to serve our customers’ deicing needs for
the full 2019-2020 winter season.”
The company sold approximately 2.9 million tons of highway deicing salt
products in the fourth quarter of 2019 compared to 2.8 million tons in
the 2018 period. 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 totaled 3.6 million tons
in the fourth quarter of 2019 compared to 3.5 million tons in the 2018
period.
Snow Events Note: 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. The
company produces its minerals at locations throughout the U.S., Canada,
Brazil and the U.K., operating 21 production facilities and employing
more than 3,000 personnel worldwide. Compass Minerals’ mission is to be
the best essential minerals company by safely delivering where and when
it matters. 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 the company's ability to
serve customers’ needs. 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 or
successfully implement any capital projects, (iv) foreign exchange rates
and the cost and availability of transportation for the distribution of
the company’s products, (v) any inability by the company to successfully
implement its cost savings initiatives, and (vi) the effects of changes
in the company's management. 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
Reports on Form 10-K for the year ended December 31, 2018 and 2019 and
Quarterly Reports on Form 10-Q for the quarters ended March 31, June 30
and September 30, 2019 filed or to be 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.
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Investor Contact
Theresa Womble
Director of Investor
Relations
+1.913.344.9362
InvestorRelations@compassminerals.com
Media
Contact
Rick Axthelm
VP, Communications and Corporate
Affairs
+1.913.344.9198
MediaRelations@compassminerals.com
Source: Compass Minerals