No Changes to Our $85 FVE for Compass Minerals After Guidance In Line With Our Expectations
Wide-moat Compass Minerals reported second-quarter results that were in line with our expectations. Following two consecutive winters with below average snow and, therefore, weak salt demand, management is guiding to lower salt prices. However, the impact will be partially offset by an increased sales volume outlook. The market disagrees with our outlook, however, as the stock traded down after the earnings release. Despite near-term weakness in the salt segment, we maintain our $85 per share fa...Compass Minerals International is a holding company. Through its wholly owned subsidiaries, the company is a provider of minerals, including salt, secondary nutrients and micronutrients, and specialty chemicals. The company has three reportable segments: Salt, which produces, markets and sells salt and magnesium chloride and sodium chloride; Plant Nutrition North America, which includes sales of sulfate of potash specialty fertilizer and specialty plant nutrients; and Plant Nutrition South America, which manufactures, distributes and markets an array of specialty plant nutrients and supplements developed and formulated from primary and secondary nutrients, specialty plant nutrients and biostimulants.
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