Compass Minerals and Ford Partner Up for Multiyear Lithium Carbonate Supply Deal
June 25, 2023
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Compass Minerals International ($NYSE:CMP), Inc. is a major producer and distributor of essential minerals and salt products. Compass Minerals recently announced a multiyear agreement with Ford Motor Company to supply lithium carbonate. The deal will see the automotive giant secure a reliable source of lithium carbonate from Compass Minerals for use in the production of its electric vehicles. The agreement also includes an option to purchase additional supplies of the mineral beyond the initial multiyear contract.
This deal marks an important step forward for both companies. Ford will be able to rest assured that their supply of lithium carbonate is secure and Compass Minerals can further expand its production capabilities to meet customer demand. It also demonstrates the importance of essential minerals to the automotive industry and opens new opportunities for both companies in the future.
Price History
This news caused COMPASS MINERALS INTERNATIONAL stock to open at $35.0, and close at $34.3, representing a 0.7% increase from its previous closing price of $34.1. The deal is expected to provide a steady supply of high-grade lithium carbonate to Ford for use in producing electric vehicle batteries. Additionally, the agreement also provides Compass Minerals with the chance to expand their presence in the growing battery market. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for CMP. More…
| Total Revenues | Net Income | Net Margin |
| 1.23k | -37.6 | -3.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CMP. More…
| Operations | Investing | Financing |
| 118.5 | -35.6 | 114.5 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for CMP. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.78k | 1.3k | 11.8 |
Key Ratios Snapshot
Some of the financial key ratios for CMP are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -6.7% | -26.2% | 7.3% |
| FCF Margin | ROE | ROA |
| 1.8% | 11.3% | 3.2% |
Analysis
At GoodWhale, we provide in-depth analysis of COMPASS MINERALS INTERNATIONAL’s fundamentals. After analyzing the financials and business aspects of the company, we give it a medium risk rating. We have also detected 3 risk warnings that could affect its financial performance. Register with us to check these out and get a more detailed analysis of the company’s financials. With our insights, you can make informed decisions when investing in COMPASS MINERALS INTERNATIONAL. More…
Peers
The competition among Compass Minerals International Inc and its competitors is fierce. Ecograf Ltd, Green Battery Minerals Inc, and Lepidico Ltd are all trying to get a piece of the market share. Each company is trying to differentiate themselves from the others in order to gain an advantage. Compass Minerals International Inc has been able to stay ahead of the competition by constantly innovating and expanding its product line.
– Ecograf Ltd ($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
Compass Minerals International has recently signed a multiyear deal with Ford Motor Company to supply lithium carbonate. This is a positive indicator for the company, as the agreement provides a secure source of revenue and improves the long-term prospects for Compass Minerals International. Furthermore, the demand for lithium carbonate is expected to rise in the future due to its use in electric vehicles and other battery-powered products.
This could potentially provide additional benefits to Compass Minerals International as the market expands. Investors should keep an eye on the company as it continues to benefit from its deals with Ford.
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