Compass Minerals Q2 Operating Earnings Up 140%, Net Loss Narrows

COMPASS MINERALS INTERNATIONAL INC

2023-Q2 EPS reported -$0.55 revenue$763,500,000

Total company operating earnings improved 140% year over year to $47.9 million, net loss narrowed to $21.6 million from $29.0 million.
Salt segment adjusted EBITDA per ton improved 64% to $20.19; consolidated adjusted EBITDA rose 19% to $77.4 million.
Completed acquisition of remaining 55% of Fortress for ~$26M cash plus contingent consideration; expected to be accretive in fiscal 2023.
Refinanced $250M 4.875% Senior Notes due July 2024 with $200M Term Loan A and expanded revolver to $375M, extending debt maturity.
Eliminated 49 positions to reduce annual operating expenses by $17-$18 million starting fiscal 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

COMPASS MINERALS INTERNATIONAL INC reported fiscal 2023 second quarter results: revenue $411.1, net income ($21.6), EPS ($0.53).

Period: fiscal 2023 second quarter
Revenue: $411.1
Net income: ($21.6)
EPS: ($0.53)
Result: reported results

Exact text from the filing

Reports Second Quarter Earnings Page 2 of 18 FINANCIAL RESULTS 1 (in millions, except per share data) Three Months Ended March 31, 2023 Six Months Ended March 31, 2023 Revenue $ 411.1 $ 763.5 Operating earnings 47.9 75.8 Adjusted operating earnings 50.8 79.0 Adjusted EBITDA * 77.4 139.2 Net loss (21.6) (21.9) Net loss per diluted share (0.53) (0.55) Adjusted

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Source: SEC EDGAR

accession 0001227654-23-000112

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