Compass reports a profit decline in third quarter

Compass Minerals reported a smaller third-quarter profit compared with the year-earlier quarter that benefited from a large insurance settlement.

The Overland Park-based company, which is a large provider of highway de-icing salts, earned $27 million for the three months that ended Sept. 30. That was down from an $87.9 million profit in the third quarter of 2014.

However, last year’s quarter included a gain from an insurance settlement related to a 2011 tornado that struck the company’s operation in Goderich, Ontario. Excluding this special item, Compass’ earnings were $27.3 million in last year’s third quarter.

Revenue fell to $232.7 million in the third quarter from $240.5 million in the comparable period last year.

The Star

This story was originally published October 27, 2015 at 4:02 PM with the headline "Compass reports a profit decline in third quarter."