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Markets :: Basic Chemicals :: Inorganic Chemicals :: Fertilizers
Unfavorable Weather Conditions Impact Earnings at Compass Minerals
8:34 AM MST | February 8, 2012 | Lindsey Bewley
Compass Minerals reported fourth-quarter net income of $43.9 million, down 28% from the year-ago quarter, on losses caused by a tornado that struck the company’s salt mine and salt evaporation plant at Goderich, ON, in August. Excluding the estimated effects of the tornado, the company’s fourth-quarter 2011 net earnings were $55.3 million, compared to fourth-quarter 2010 net earnings excluding special items of $56.8 million. Unusually mild winter weather in North America also pressured salt segment operating earnings in the fourth quarter...
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