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People & Business :: Earnings/Finance
Mild Winter, High Inventories Weigh on Compass Minerals' Second-Quarter Results
10:57 AM MDT | July 30, 2012 | Rebecca Coons
Compass Minerals reported net earnings of $9.5 million for its fiscal second quarter, ended June 30, 2012, down 32% from the year-ago quarter. Excluding special items, the company posted earnings of 31 cts/share, beating analysts’ estimates of 26 cts/share, as reported by Thomson Reuters (New York). Sales were flat, at $178.5 million. Operating earnings declined 30%, to $15.5 million, driven by increased sulfate of potash unit production costs related to sourcing higher-cost potassium mineral feedstock as a result of unfavorable solar-evaporation...
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