Compass Minerals Reports Fourth-Quarter Salt Sales Volume and Snow-Event Data
January 06 2015 - 4:30PM
Business Wire
Strong pre-season demand more than offset mild
weather impact
Compass Minerals (NYSE: CMP) reports that robust pre-season
demand for deicing products more than offset lower in-season demand
resulting from below average snow activity in the company’s core
service areas.
“Fourth quarter salt sales began at a record-setting pace as our
deicing customers in North America restocked inventories after the
extremely severe 2013-2014 winter,” said Fran Malecha, Compass
Minerals’ president and chief executive officer. “Thus while winter
weather has been mild to date, these results exceeded our prior
guidance for salt sales volumes.”
The company sold approximately 4.3 million tons of salt products
in the 2014 period compared to previous guidance of 4 million tons.
This compares to 4.8 million in the fourth quarter of 2013 when
snow events were significantly above the 10-year average. Highway
deicing sales volumes alone totaled 3.5 million tons in the 2014
fourth quarter. This result 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.
Eleven representative cities in the company’s primary North
American highway deicing service area reported a total of 35 snow
events during the period compared with a 10-year average of 47.5
events. The same cities posted 69 events in the fourth quarter of
2013.
The company has published its fourth-quarter 2014 highway
deicing sales volume and regional weather data on its website at
www.compassminerals.com/marketdata. 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 address 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. and Canada and in the U.K. For more information
about Compass Minerals and its products, please visit
www.compassminerals.com.
Compass MineralsInvestor ContactTheresa L. Womble,
+1-913-344-9362Director of Investor
Relationswomblet@compassminerals.comorMedia ContactTara
Hart, +1-913-344-9319External Communications
ManagerPressRelations@compassminerals.com
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