Senior Leadership Additions
Compass Minerals announced the addition of Pat Merritt and Peter Feldman as COO and CFO, respectively, bringing proven track records in operational management to the company.
Progress in Salt Inventory Management
North American Highway Deicing inventory volumes are targeted to be down approximately 10% year over year, despite a slow start to winter.
Improvement in Plant Nutrition Business
Plant nutrition revenue increased by 24% year over year, with sales volumes up 36% and costs down 10%, leading to an increase in guidance for this segment.
Liquidity and Leverage Management
At quarter-end, liquidity was $126 million, and the consolidated net leverage ratio was within the company's covenant at 5.9 times.