COMPASS MINERALS INTERNATIONAL Reports Third Quarter Earnings Results for FY2023 on June 30, 2023
August 18, 2023
🌥️Earnings Overview
On June 30, 2023, COMPASS MINERALS INTERNATIONAL ($NYSE:CMP) released their earnings results for Q3 FY2023, which ended on that same date. Revenue totaled USD 207.6 million, a drop of 3.3% from the same quarter in the previous year. Net income for the quarter was USD 39.9 million, representing a considerable increase from the -7.9 million reported in Q3 FY2022.
Share Price
The company closed the day at $38.7, up from the previous closing price of $38.5 or 0.5%. At the opening of the day, COMPASS MINERALS INTERNATIONAL stocks opened at $38.0. The profits were mainly driven by the higher sales of its de-icing products in North America and its Sulfate of Potash (SOP) products in Brazil. The company management stated that despite the challenges posed by the current global environment, they are cautiously optimistic about the financial outlook for the fourth quarter and the upcoming fiscal year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for CMP. More…
| Total Revenues | Net Income | Net Margin |
| 1.22k | 10.2 | 0.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CMP. More…
| Operations | Investing | Financing |
| 92.9 | -127.2 | 45.4 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for CMP. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.73k | 1.2k | 13.05 |
Key Ratios Snapshot
Some of the financial key ratios for CMP are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -5.6% | -23.6% | 8.2% |
| FCF Margin | ROE | ROA |
| -1.1% | 12.2% | 3.6% |
Analysis
At GoodWhale, we conducted a fundamentals analysis of COMPASS MINERALS INTERNATIONAL and our Star Chart showed that the company is strong in asset, dividend, profitability and weak in growth. We classified COMPASS MINERALS INTERNATIONAL as a ‘cow’ type of company, which is one that has a track record of paying out consistent and sustainable dividends. This type of company would probably be of interest to investors looking for steady returns. We also found that COMPASS MINERALS INTERNATIONAL has a high health score of 8/10 considering its cashflows and debt, which is evidence that it is capable to sustain its future operations even in times of crisis. More…
Peers
The competition among Compass Minerals International Inc and its competitors is fierce. Ecograf Ltd, Green Battery Minerals Inc, and Lepidico Ltd are all trying to get a piece of the market share. Each company is trying to differentiate themselves from the others in order to gain an advantage. Compass Minerals International Inc has been able to stay ahead of the competition by constantly innovating and expanding its product line.
– Ecograf Ltd ($ASX:EGR)
Eograf Ltd is a publicly traded company with a market capitalization of 168.88 million as of 2022. The company has a return on equity of -7.82%. Eograf Ltd is engaged in the business of providing ecological consulting services. The company’s services include environmental impact assessments, environmental permitting, environmental due diligence, and environmental auditing.
– Green Battery Minerals Inc ($TSXV:GEM)
Battery Minerals Inc is a U.S.-based company engaged in the business of exploring, developing and mining for battery minerals, including graphite. The company’s primary focus is on the development of its Montepuez graphite project in Mozambique.
– Lepidico Ltd ($ASX:LPD)
Lepidico Ltd is a lithium exploration and development company. The company has a market capitalization of 137.48 million as of 2022 and a return on equity of -6.76%. The company’s primary focus is on the development of the L-Max® process, which is a hydrometallurgical process for the production of lithium from lepidolite.
Summary
Investors in Compass Minerals International had much to celebrate after the company reported their third quarter earnings results on June 30 2023. Total revenue was down slightly by 3.3% year-on-year, but net income had significantly improved, rising from a -7.9 million loss in the same quarter of the prior year to a 39.9 million gain in Q3 FY2023. This is a positive sign for investors, demonstrating that the company is able to make progress in the face of challenging economic conditions.
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