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Compass Minerals sees FY23 revenue $1.19B-$1.31B, consensus $1.25B
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Compass Minerals sees FY23 revenue $1.19B-$1.31B, consensus $1.25B

The company guides Salt Segment revenue of $990M-$1.07B and Plant Nutrition revenue of $200M-$240M. Compass Minerals states: "For FY23, the company has modified its approach to providing annual earnings guidance. While demand for deicing salt is stable over time, the nature of winter weather and the manner in which customers respond to weather events make forecasting deicing sales volumes difficult during any single year. The company’s focus for the Salt segment in 2023 is on improving profitability to historical levels by adjusting its pricing strategy and recalibrating its sales mix to areas where it has natural competitive advantages that result in higher profit margins. The company’s North American highway deicing bidding process for the 2022-2023 winter season has been completed and the company expects its average contract price for the upcoming winter season to be approximately 15% above the prior year’s bid season results. The company estimates that its total committed bid volumes will decrease by approximately 9% compared to prior-year bid season results as it prioritizes value over volume. Consistent with prior years, Compass Minerals expects that approximately 75% of its highway deicing sales will be achieved in the first half of the fiscal year."

Published first on TheFly

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