By Business Wirevia The Motley Fool
Filed under: Investing
Compass Minerals Reports First-Quarter Highway Deicing Sales Volume and Snow-Event Data
OVERLAND PARK, Kan.–(BUSINESS WIRE)– Compass Minerals (NYS: CMP) has published its first-quarter 2013 highway deicing sales volume and regional weather data on its website at www.compassminerals.com/marketdata.
Compass Minerals‘ highway deicing sales volume, which includes all highway maintenance products sold in the U.S., Canada and the U.K., as well as rock salt sold to the chemical industry, totaled approximately 4.4 million tons in the three months ended March 2013 compared with 3.1 million tons in the 2012 quarter.
Eleven representative cities in the company’s primary North American highway deicing service area reported a total of 108 snow events during the period, rebounding from the historically low number of 73 events in the same cities in the first quarter of 2012, but below the 10-year average of 113.7 events. For the full winter season, which includes the calendar fourth quarter of 2012 and the calendar first quarter of 2013, there were 144 snow events in the 11 representative cities, compared to 89 in the 2011-2012 winter and to the 10-year average of 159.8 snow events in those same cities.
“The return of more typical winter weather in North America combined with persistent low temperatures in the UK boosted highway deicing sales volume above our previous forecast and well above the sales volume we reported in the first quarter of 2012,” explained Compass Minerals CEO and president, Fran Malecha. “Because consumer and commercial deicing customers typically place their orders early in the season, these recent weather events had less of an influence on our first-quarter consumer and industrial sales results, which are in line with our prior guidance of 530,000 tons.”
The number of snow events reported may not directly correlate to Compass Minerals‘ deicing results due to a variety of factors. The weather data is provided without adjustments to reflect the relative significance to the company of the cities represented. It should be used only as an indicator of the year-to-year variations in winter weather conditions in these regions. Compass Minerals obtains its weather data from the U.S. National Weather Service; AccuWeather, Inc. and Environment Canada without weighting or other adjustments.
About Compass Minerals
Based in the Kansas City metropolitan area, Compass Minerals is a leading producer of minerals, …read more
Source: FULL ARTICLE at DailyFinance
