Compass Minerals (CMP) stock plummeted by 5% in intraday trading on Wednesday, following the release of its disappointing fourth-quarter and full-year 2024 financial results. The company also faced a price target cut from BMO Capital, further exacerbating the stock's decline.

According to the earnings report, Compass Minerals reported a fourth-quarter operating loss of $30 million, including an $18 million non-cash impairment charge related to water rights. For the full fiscal year, the company posted a consolidated operating loss of $117 million, with revenue down 7% year-over-year, impacted by mild winter conditions and decreased highway deicing volumes.

The company's Salt segment, which accounts for a significant portion of its revenue, experienced a challenging year. Fourth-quarter Salt segment revenue declined to $163 million, down from $187 million a year ago. For the full year, Salt segment revenue fell 10% year-over-year, although the segment's adjusted EBITDA margin increased to over 25%.