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Mild winter weather weighs on Compass Minerals' Q1'17 sales

NYSE-listed Compass Minerals International Inc. sold about 3.5 million tonnes of highway deicing salt products in the first quarter of 2017, down from 3.7 million tonnes sold a year ago, the company said April 10.

The company attributed the lower sales to milder-than-normal winter weather in its primary North American service areas.

President and CEO Fran Malecha expects to offset some of the challenges from the mild winter by aggressively managing costs.

Sales of all salt products reached 4.0 million tonnes, compared to 4.2 million tonnes in the same quarter of 2016.

Malecha said the company was "encouraged" by the performance of its plant nutrition business, but did not give any figures.

The company will provide an update on its outlook when reporting first-quarter financials May 3.

Compass Minerals' net earnings in the fourth quarter of 2016 rose to US$97.6 million, from US$58.4 million in the same quarter of 2015.