We Maintain Our $81 FVE After Compass Minerals Reports 1Q Snow Days and Salt Volumes
Compass Minerals reported first-quarter snow days and salt volume sales that were generally in line with our expectations. Compass sold roughly 4.1 million tons of salt during the first quarter of 2019, which is roughly 14% below the first quarter of 2018. We maintain our forecast for around 10.5 million tons of total salt sales for Compass in 2019, which is at the high end of guidance, as the company continues to restore production at its low-cost Goderich mine. In the update, management said G...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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