Compass Minerals reports strong quarterly profits, sales

Compass Minerals on Monday reported a 38 percent increase in fourth-quarter profits, boosted by a 10 percent gain in salt sales used for highway de-icing.

The Overland Park-based company earned $80.5 million in the final three months of 2014, up from $58.4 million in the same quarter in 2013. Revenue climbed 12 percent during the quarter to $433.4 million.

“Early snow and robust pre-season demand overcame mild December weather to produce strong fourth-quarter results for our salt business,” chief executive and president Fran Malecha said in the earnings statement. Compass also reported a 23 percent increase in revenue from the sale of plant nutrition products.

For the year, Compass earned $217.9 million, compared to $130.8 million in 2013.

Compass also said its board approved a 10 percent increase in the company’s quarterly dividend to 66 cents per share, payable March 13 to shareholders of record on Feb. 27.

The Star

This story was originally published February 9, 2015 at 3:59 PM with the headline "Compass Minerals reports strong quarterly profits, sales."