Compass Minerals Reports Fourth-Quarter Snow-Event Data
January 09 2017 - 4:37PM
Business Wire
Increased winter weather events drive improved
sales volumes versus 2016 results
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170109006379/en/
Compass MineralsInvestor ContactTheresa L. Womble,
+1-913-344-9362Director of Investor
Relationswomblet@compassminerals.comorMedia ContactTara
Hart, +1-913-344-9319Manager of Corporate
AffairsMediaRelations@compassminerals.com
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