Compass Minerals International Inc. (NYSE: CMP) experienced a significant after-hours surge of 6.89% following the release of its fiscal first-quarter results.
The company reported adjusted earnings per share of $0.43, significantly beating the analyst consensus estimate of $0.26 by 67.32%. Quarterly sales reached $396.1 million, surpassing expectations of $334 million by 18.59%. This represents a substantial year-over-year improvement from a loss per share in the same period last year.
The strong performance was attributed to robust winter weather conditions benefiting the Salt segment, alongside higher pricing and cost-structure improvements in the Plant Nutrition segment. Management noted that the strategic sale of the Wynyard sulfate of potash facility was completed. Based on the positive quarterly results, Compass Minerals has raised its full-year adjusted EBITDA outlook.