Compass Minerals reports quarterly loss

Compass Minerals on Monday reported a second-quarter loss of about $700,000, citing costs related to early redemption of debt and an expected increase in its 2014 tax rate.

The Overland Park-based company, which is one of the nation’s largest suppliers of highway de-icing salt, said sales increased to $186.6 million from $173.8 million in the second quarter last year. Sales were boosted by demand for plant nutrition products, which offset a 7 percent seasonal dip in salt sales.

In last year’s second quarter, Compass earned $10.6 million. The company said that without the debt redemption costs, its net earnings were $4.4 million.

For the second half of this year, Compass said it expects increased earnings thanks to “attractive market conditions” for its salt and plant nutrition businesses.

The Star

This story was originally published July 28, 2014 at 8:58 AM with the headline "Compass Minerals reports quarterly loss."