Why Compass Minerals International Is Plunging Today
Shares of Compass Minerals International (NYSE: CMP) tumbled more than 21% by 10:30 p.m. EST on Tuesday. Weighing on the minerals company was its third-quarter report.
Compass Minerals had to taper its salt production during the third quarter to manage inventory levels and volumes lost to Hurricane Ida. That decision weighed on its salt segment earnings. The company also experienced lower sulfate of potash production volumes due to temporary pond feedstock inconsistencies. This factor impacted earnings in its plant nutrient segment. As a result, the company reported a loss of $4.6 million, or $0.14 per share.
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Source Fool.com
