Compass Minerals (CMP) Tops Q1 EPS by 13c, Beat on Revenue; Reduces FY17 EPS Guidance

Compass Minerals (NYSE: CMP) reported Q1 EPS of $0.63, $0.13 better than the analyst estimate of $0.50. Revenue for the quarter came in at $387.8 million versus the consensus estimate of $386.97 million.

GUIDANCE:

Compass Minerals sees FY2017 EPS of $3.00-$3.50.

OUTLOOK

The mild end to the winter has created challenges for the deicing market and is likely to create unfavorable supply and demand dynamics for the upcoming North American highway deicing bid season. Our Plant Nutrition North America business is performing as expected given the market stabilization occurring for crop inputs. In addition, positive contributions from Plant Nutrition South America are expected to offset a portion of the negative impact from mild winter weather on 2017 earnings. The company continues to actively pursue additional cost reductions. Finally, the company currently anticipates its full-year 2017 effective tax rate to approximate 20 percent, reflecting the estimated full-year impact of the reduction of tax valuation allowances that favorably impacted the first-quarter 2017 effective tax rate. Given these assumptions, the company has reduced its earnings per share guidance for full-year 2017 to $3.00 to $3.50.

For earnings history and earnings-related data on Compass Minerals (CMP) click here.

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