COMPASS MINERALS INTERNATIONAL INC
For the period ended Jun 30, 2026. Filed Aug 6, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 6, 2026
CMP$22.91+0.9%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-07.
0001227654-26-000025
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-06.
0001227654-26-000054
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 155 previous paragraphs and 157 current paragraphs.
61 unchanged; 65 reworded; 29 added; 23 removed; 6 previous and 2 current paragraphs rearranged.
Tables are not compared: 18 previous and 19 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (29)
Current report
We expect production costs to remain elevated in the near term as we continue investing in productivity and maintenance initiatives at our mines, while logistics costs may continue to be impacted by inflationary pressure, fuel price volatility, and transportation constraints. Concurrently, we are advancing enterprise-wide cost optimization initiatives focused on network efficiency, procurement, and contract management to support sustainable margin improvement and risk mitigation.
Current report
Following a stronger-than-average winter season that drove elevated demand and reduced inventory levels across the industry, we currently expect demand in fiscal 2027 to be lower than fiscal 2026, reflecting normalized weather assumptions.
Current report
ended June 30, 2026, and $14.5 million, for the nine months ended June 30, 2026, which included $13.1 million of foreign currency translation adjustments reclassified from Accumulated other comprehensive loss. Prior to the sale and disposition, the results of the Wynyard SOP business represented less than 3% of our total sales and were included in the Plant Nutrition operating segment. While the disposition did not have a material impact on consolidated operating results, it does affects comparability of Plant Nutrition segment results to prior periods. See Note 3. Dispositions in the Notes to the unaudited condensed consolidated financial statements (“Condensed Consolidated Financial Statements”) under Item 1 of Part I of this Form 10-Q for further information.
Current report
8.00% Senior Notes due 2030. On June 16, 2025, we issued $650.0 million aggregate principal amount of our 8.00% Senior Notes due 2030 (the “2030 Notes”) in a private offering, pursuant to an indenture, dated June 16, 2025. We used the net proceeds from the 2030 Notes to (i) repay $43.5 million under the revolving credit facility and $191.3 million under the term loan under our senior secured credit facility, (ii) redeem approximately $350.0 million of our 2027 Notes at a redemption price of 101.125% of the principal amount, plus accrued and unpaid interest, (iii) pay transaction-related fees and expenses, (iv) increase cash on our balance sheet, and (v) for general corporate purposes. See Note 7. Long-Term Debt and Finance Lease Liabilities in the Notes to Condensed Consolidated Financial Statements under Item 1 of the Part I of this Form 10-Q for further information.
Current report
Fortress Exit. On March 25, 2025, we took measures to align our cost structure to current business needs as part of a larger strategic refocus to improve the profitability of our core Salt and Plant Nutrition businesses. Specifically, we began the process of exiting the Fortress North America, LLC (“Fortress”) fire retardant business and terminating the employment of all Fortress employees. The results of operations of Fortress were included in Corporate and Other segment.
Current report
As a result of the above items impacting Fortress, we determined that there were indicators of impairment with the associated Fortress intangible assets and long-lived assets. We recorded a Loss on impairment of$53.7 million, consisting of $53.0 million related to intangible assets and $0.7 million related to long-lived assets, for the nine months ended June 30, 2025. See Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of the Part I of this Form 10-Q for further information.
Current report
On May 30, 2025, we entered into an Asset Purchase Agreement, selling substantially all Fortress assets for $20.0 million in cash. We paid approximately $0.4 million of costs related to the sale. The assets included in the sale had a net book value of approximately $17.2 million. The fair value of proceeds received, net of transaction costs, exceeded the carrying amount, resulting in a gain of $2.4 million, recorded in Other expense (income), net, in the Condensed Consolidated Statements of Operations for both the three and nine months ended June 30, 2025.
Current report
THREE AND NINE MONTHS ENDED JUNE 30
Current report
•Total sales increased 0.3%, or $0.7 million, primarily due to higher Salt sales, partially offset by lower Plant Nutrition sales. Salt sales increased due to higher average sales prices, partially offset by lower sales volumes, while Plant Nutrition sales decreased due to lower sales volumes, partially offset by higher average sales prices.
Current report
•Operating income decreased by $5.0 million to $10.9 million from an operating income of $15.9 million in the prior- year period, primarily reflecting lower Salt operating income, partially offset by higher Plant Nutrition operating income. Salt operating income decreased primarily due to lower sales volumes and higher per-unit product and per-unit shipping and handling costs, partially offset by higher average sales prices. Plant Nutrition operating income increased primarily due to higher average sales prices and lower per-unit product and per-unit shipping and handling costs, partially offset by lower sales volumes.
Current report
•Net loss was $5.7 million for the three months ended June 30, 2026, compared to a net loss of $17.0 million for the three months ended June 30, 2025, primarily reflecting higher foreign exchange gains, lower loss on debt extinguishments, and lower impairment losses, partially offset by lower gross profit and higher selling, general and administrative expense and higher income tax expense.
Current report
•Total sales increased 4.7%, or $48.2 million, primarily due to higher Salt sales and modestly higher Plant Nutrition sales. Salt and Plant Nutrition sales increased due to higher average sales prices, partially offset by lower sales volumes.
Current report
THREE AND NINE MONTHS ENDED JUNE 30
Current report
Other Operating Expense:
Current report
•Other operating expense was $0.0 million for the three months ended June 30, 2026, compared to $0.6 million in the prior-year period, primarily due to product recall and restructuring costs incurred in the prior-year period. See Note 3. Dispositions and Note 8. Commitments and Contingencies in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q for further information.
Current report
•Interest expense decreased by $1.7 million to $14.6 million for the three months ended June 30, 2026, from $16.3 million in the prior-year period, primarily due to lower average borrowings. See Note 7. Long-Term Debt and Finance Lease Liabilities in the Notes to Condensed Consolidated Financial Statements under Item 1 of the Part I of this Form 10-Q for further information.
Current report
(Gain) Loss on Foreign Exchange:
Current report
•No loss on debt extinguishment was recorded during the three months ended June 30, 2026. During the three months ended June 30, 2025, we recorded a loss on extinguishment of debt of $7.6 million, comprised of a $3.9 million prepayment premium related to the partial redemption of 2027 Notes and a $3.7 million write-off of unamortized deferred financing costs related to the partial redemption of 2027 Notes and repayment of our term loan.
Current report
Other Expense (Income), net:
Current report
•Other expense was $0.2 million for the three months ended June 30, 2026, compared to other income of $2.5 million for the three months ended June 30, 2025, primarily due to a gain related to the sale of the Fortress assets in the prior year period.
Current report
•Income tax expense increased by $3.0 million for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily due to higher pre-tax income generated in foreign jurisdictions.
Current report
•Our effective tax rate exceeded 100% for the three months ended June 30, 2026, primarily due to tax expense on foreign earnings recognized while losses in the U.S. generated limited tax benefits due to valuation allowances against U.S. deferred tax assets.
Current report
Selling, General and Administrative Expenses:
Current report
•Interest expense decreased $0.6 million to $50.6 million for the nine months ended June 30, 2026, from $51.2 million in the prior-year period, primarily due to lower average borrowings.
Current report
(Gain) Loss on Foreign Exchange:
Current report
•Salt sales increased $47.1 million, or 5.6%, primarily due to higher total average sales price, partially offset by lower total sales volumes.
Current report
•Plant Nutrition sales decreased 16.1%, or $7.2 million, reflecting a 19.1% decrease in sales volume, partially offset by a 4.3% increase in average sales prices, compared to the prior-year period. The decline in sales volumes was primarily due to the disposition of the Wynyard SOP business in March 2026. Excluding the impact of the disposition, sales volumes increased approximately 3.6% year over year.
Current report
(b)For the nine months ended June 30, 2026, we recorded a $0.5 million loss on extinguishment of debt related to the write-off of deferred financing costs from the redemption of the 2027 Notes. For the three and nine months ended June 30, 2025, we recorded a $7.6 million loss on extinguishment of debt, comprised of a $3.9 million prepayment premium related to the partial redemption of the 2027 Notes and a $3.7 million write-off of unamortized deferred financing costs related to the partial redemption of 2027 Notes and repayment of the term loans.
Current report
In the near term, our capital allocation priorities remain focused on investing in the maintenance of our assets to support our existing operations and on continued debt reductions, where appropriate. As our balance sheet strengthens and our financial position continues to improve, we may evaluate additional uses of capital and are considering a capital allocation framework to, among other things, implement such uses. The timing and nature of any future capital allocation decisions will depend on our financial performance, liquidity position, capital requirements, and market conditions.
Removed paragraphs (23)
Previous report
THREE AND SIX MONTHS ENDED MARCH 31
Previous report
•Total sales decreased 8.4%, or $41.4 million, primarily due to lower Salt segment sales. The decrease in sales for Salt was driven by a 21.6% decline in deicing sales volumes and a 0.4% decrease in consumer and industrial sales volumes, partially offset by a combined average sales price increase of 9.7% between the two periods. Plant Nutrition sales increased 14.9%, compared to the prior-year period, due to higher average sales prices and higher sales volumes.
Previous report
•Operating income of $56.0 million improved by $59.1 million from an operating loss of $3.1 million in the prior-year period, primarily reflecting higher Plant Nutrition operating income and no loss on impairment recorded during the three months ended March 31, 2026, compared to a $53.0 million loss on impairment recorded during the three months ended March 31, 2025. Salt operating income decreased by $1.7 million, primarily due to lower sales volumes and higher per-unit product and per-unit shipping and handling costs. Plant Nutrition operating income was $7.6 million and improved from a prior period operating loss of $1.8 million, primarily due to higher average sales prices, lower per-unit product and per-unit shipping and handling costs, and higher sales volumes.
Previous report
•Net income was $12.7 million for the three months ended March 31, 2026, compared to a net loss of $32.0 million for the three months ended March 31, 2025, primarily reflecting lower impairment losses, higher gross profit and foreign exchange gains, and reduced selling, general and administrative expense, partially offset by a higher income tax expense and recognition of a loss on the sale of the Wynyard SOP business.
Previous report
•Total sales increased 5.9%, or $47.5 million, during the six months ended March 31, 2026 compared to the prior-year period. The higher Salt segment sales was driven by higher Salt combined average sale prices of 6.6% and higher consumer and industrial sales volumes of 6.5%, partially offset by lower highway deicing sales volumes of 1.9%. Plant Nutrition sales increased 6.8%, compared to the prior-year period, primarily due to higher average sales prices, partially offset by lower sales volumes.
Previous report
THREE AND SIX MONTHS ENDED MARCH 31
Previous report
Interest Income:
Previous report
•The increase in interest income of 0.4 million during the current period was primarily due to the higher average cash balance in the current year.
Previous report
•Interest expense was relatively unchanged at $17.9 million for the three months ended March 31, 2026, compared to $18.0 million for the three months ended March 31, 2025.
Previous report
Gain on Foreign Exchange, Net:
Previous report
•Other expense was $0.5 million for the three months ended March 31, 2026, compared to $1.4 million for the three months ended March 31, 2025, which primarily reflected credit agreement modification fees incurred in December 2024.
Previous report
•Income tax expense increased by $6.2 million for the three months ended March 31, 2026, versus the three months ended March 31, 2025, primarily due to the book loss on sale of the Wynyard SOP business in the three months ended March 31, 2026, which resulted in additional tax expense due to differences in book and tax basis. See Note 6. Income Taxes and Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q.
Previous report
•Our effective tax rate was 55.7% for the three months ended March 31, 2026, which is primarily driven by the income mix by country with income recognized in foreign jurisdictions, for which tax expense was recorded, offset by losses recognized in the U. S. for which a valuation allowance has been recorded against the U.S. tax benefit as well as the impacts of the sale of the Wynyard SOP business noted above. See Note 6. Income Taxes and Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q.
Previous report
SG&A:
Previous report
Other Operating Income:
Previous report
Interest Income:
Previous report
•The increase in interest income of $0.3 million during the current period was primarily due to the higher average cash balance in the current year.
Previous report
•Interest expense was $36.0 million, for the six months ended March 31, 2026, compared to $34.9 million, for the six months ended March 31, 2025.
Previous report
Gain on Foreign Exchange, Net:
Previous report
Other Expense, net:
Previous report
•Salt sales decreased $50.1 million, or 11.6%, primarily due to lower sales volumes, partially offset by higher combined average sales price.
Previous report
•Plant Nutrition sales increased 14.9%, or $8.7 million, reflecting a 10.3% increase in average sales prices and a 4.3% increase in sales volume, compared to the prior-year period.
Previous report
(b)Loss on extinguishment of debt of $0.5 million was related to the write-off of deferred financing costs from the redemption of the 2027 Notes.
Reworded paragraphs (65)
Previous wording
Redemption of 2027 Notes. On March 30, 2026, we redeemed in full the remaining $150.0 million outstanding 6.75% Senior Notes due 2027 (the “2027 Notes”) using cash on hand at 100% of principal plus accrued interest.
Current wording
Redemption of 2027 Notes. On March 30, 2026, we redeemed in full the remaining $150.0 million outstanding 6.75% Senior Notes due 2027 (the “2027 Notes”) using cash on hand at 100% of principal plus accrued interest. See Note 7. Long-Term Debt and Finance Lease Liabilities in the Notes to Condensed Consolidated Financial Statements under Item 1 of the Part I of this Form 10-Q for further information.
Previous wording
AR Securitization Facility. On March 19, 2026, certain of our U.S. subsidiaries entered into a Sixth Amendment to our Accounts Receivable Securitization Facility (“AR Facility”) of up to $100.0 million with PNC Bank, National Association (“PNC”), as administrative agent and lender, and PNC Capital Markets, LLC, as structuring agent, extending the facility to March 2029.
Current wording
AR Securitization Facility. On March 19, 2026, certain of our U.S. subsidiaries entered into a Sixth Amendment to our Accounts Receivable Securitization Facility (“AR Facility”) of up to $100.0 million with PNC Bank, National Association (“PNC”), as administrative agent and lender, and PNC Capital Markets, LLC, as structuring agent, extending the facility to March 2029. See Note 7. Long-Term Debt and Finance Lease Liabilities in the Notes to Condensed Consolidated Financial Statements under Item 1 of the Part I of this Form 10-Q for further information.
Previous wording
Sale and Disposition of Wynyard SOP Business. On February 3, 2026, we entered into a share purchase agreement (the “Share Purchase Agreement”) to sell our SOP business in Wynyard, Saskatchewan, Canada. The Share Purchase Agreement provided for total consideration of approximately $30.8 million, prior to indebtedness and working capital adjustments of $2.1 million. The transaction closed on March 1, 2026. At closing, we received cash proceeds of $23.2 million, net of (i) $3.9 million placed in escrow, (ii) $1.3 million of cash on hand transferred to the buyer, and (iii) $0.3 million of transaction costs. As a result of the transaction, we recorded a pre-tax loss on sale of business, net, of $14.6 million, which included $13.1 million of foreign currency translation adjustments reclassified from Accumulated other comprehensive loss, for both the three and six months ended March 31, 2026. Prior to the sale and disposition, the results of the Wynyard SOP business were included in the Plant Nutrition operating segment and represented less than 3% of the Company’s total sales. See Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q for further information.
Current wording
Sale and Disposition of Wynyard SOP Business. On February 3, 2026, we entered into a share purchase agreement (the “Share Purchase Agreement”) to sell our SOP business in Wynyard, Saskatchewan, Canada. The Share Purchase Agreement provided for total consideration of approximately $30.8 million, prior to indebtedness and working capital adjustments of $2.1 million. The transaction closed on March 1, 2026. At closing, we received cash proceeds of $23.3 million, net of (i) $3.9 million placed in escrow, (ii) $1.3 million of cash on hand transferred to the buyer, and (iii) $0.2 million of transaction costs. As a result of the transaction, we recorded a pre-tax (gain) loss on sale of business, net, of $(0.1) million, for the three months
Previous wording
Tariffs. We continue to monitor the current tariff landscape including the U.S. Supreme Court decision overturning U.S. tariffs initiated in calendar 2025. As our products are United States-Mexico-Canada (“USMCA”) compliant under the USMCA trade agreement, we had minimal impact from tariff developments. Accordingly, our exports from Canada into the United States are exempt from tariffs at this time.
Current wording
Tariffs. We continue to monitor the current tariff landscape including the U.S. Supreme Court decision overturning U.S. tariffs initiated in calendar 2025. As our products are United States-Mexico-Canada (“USMCA”) compliant under the USMCA trade agreement, we have experienced minimal impact from tariff developments and our exports from Canada into the United States were previously exempt from tariffs. On July 20, 2026, the U.S. government announced additional tariffs of up to 50% on certain Canadian imports under Section 338 of the Tariff Act of 1930, which are scheduled to become effective on August 19, 2026. To mitigate potential financial exposure arising from U.S. tariffs that may be imposed on imported salt products, we have proactively implemented measures within some of our commercial arrangements, including tariff pass-through provisions that have become standard in several key customer contracts. To the extent imported salt products are ultimately subject to U.S. tariffs, these provisions may help offset a portion of the associated cost impacts. We continue to monitor regulatory developments and assess the potential implications of any tariff actions. However, the ultimate impact of such U.S. tariffs on our business, financial condition, results of operations, and cash flows remains uncertain.
Previous wording
OBBBA. On July 4, 2025, the U.S. enacted a budget reconciliation package known as the “One Big Beautiful Bill Act of 2025” (“OBBBA”), which includes both tax and non-tax provisions. While the Company is benefiting from the relaxing of interest deduction limitations, the Company does not view the OBBBA to significantly impact its income tax profile.
Current wording
OBBBA. On July 4, 2025, the U.S. enacted a budget reconciliation package known as the “One Big Beautiful Bill Act of 2025” (“OBBBA”), which includes both tax and non-tax provisions. While we are benefiting from the relaxing of interest deduction limitations, we do not view the OBBBA to significantly impact our income tax profile.
Previous wording
The following is a summary of our consolidated results of operations for the three and six months ended March 31, 2026 (also referred to as “QTR 2026” and “YTD 2026,” respectively) and three and six months ended March 31, 2025 (also referred to as “QTR 2025” and “YTD 2025,” respectively). The following discussion should be read in conjunction with the information contained in our Condensed Consolidated Financial Statements and the notes thereto included in this Quarterly Report on Form 10-Q.
Current wording
The following is a summary of our consolidated results of operations for the three and nine months ended June 30, 2026 (also referred to as “QTR 2026” and “YTD 2026,” respectively) and three and nine months ended June 30, 2025 (also referred to as “QTR 2025” and “YTD 2025,” respectively). The following discussion should be read in conjunction with the information contained in our Condensed Consolidated Financial Statements and the notes thereto included in this Quarterly Report on Form 10-Q.
Previous wording
•Diluted net income per common share of $0.30 improved by $1.07 from $0.77 net loss per common share in the prior-year period.
Current wording
•Diluted net loss per common share improved to $0.13 from $0.41 net loss per common share in the prior-year period.
Previous wording
•Operating income of $92.6 million improved by $95.2 million from an operating loss of $2.6 million in the prior-year period, primarily reflecting higher Salt and Plant Nutrition operating income and no loss on impairment recorded during the six months ended March 31, 2026, compared to a $53.0 million loss on impairment recorded during the six months ended March 31, 2025. Salt operating income increased $18.0 million, primarily due to higher combined average sales prices, partially offset by lower sales volumes and higher per-unit product and per-unit shipping and handling costs. Plant Nutrition operating income was $13.0 million and improved from a prior-year period operating loss of $4.9 million, primarily due to higher average sales prices and lower per-unit product and per-unit shipping and handling costs, partially offset by lower sales volumes.
Current wording
•Operating income increased by $90.2 million to $103.5 million, from an operating income of $13.3 million in the prior-year period, primarily reflecting higher Salt and Plant Nutrition operating income and the absence of an impairment loss during the nine months ended June 30, 2026, compared to a $53.7 million loss on impairment recorded during the nine months ended June 30, 2025. Salt operating income increased primarily due to higher average sales prices, partially offset by higher per-unit product and per-unit shipping and handling costs and lower sales volumes. Plant Nutrition operating income increased primarily due to higher average sales prices, lower per-unit product and per-unit shipping and handling costs, partially offset by lower sales volumes.
Previous wording
•Diluted net income per common share of $0.73 improved by $2.07 from $1.34 net loss per common share in the prior-year period.
Current wording
•Diluted net income per common share improved to $0.59, compared to a net loss per common share of $1.74 in the prior-year period.
Previous wording
•Net income was $31.3 million for the six months ended March 31, 2026, compared to a net loss of $55.6 million for the six months ended March 31, 2025, primarily reflecting lower impairment losses, higher gross profit, reduced selling, general and administrative expenses, and lower income tax expense, and other expense, partially offset by the recognition of a loss on the sale of the Wynyard SOP business.
Current wording
•Net income was $25.6 million for the nine months ended June 30, 2026, compared to a net loss of $72.6 million for the nine months ended June 30, 2025, primarily reflecting lower impairment losses, higher gross profit, higher foreign exchange gains, reduced selling, general and administrative expenses, and lower income tax expense, partially offset by the recognition of a loss on the sale of the Wynyard SOP business.
Previous wording
•Gross profit increased 8.1%, or $6.2 million, primarily due to the higher Plant Nutrition segment gross profit, partially offset by lower Salt segment gross profit. Gross margin increased 2.8 percentage points to 18.3%.
Current wording
•Gross profit decreased 8.0%, or $3.3 million, primarily due to lower Salt segment gross profit, partially offset by higher Plant Nutrition segment gross profit. Gross margin decreased by 1.6 percentage points to 17.6%.
Previous wording
•Salt segment gross profit decreased $3.7 million, primarily due to lower sales volumes and higher per-unit product and per-unit shipping and handling costs. Salt per-unit shipping and handling cost increases were due to a combination of inflationary pressure on logistic rates and wider mix of shipping points.
Current wording
•Salt segment gross profit decreased $6.8 million, primarily due to lower sales volumes and higher per-unit product and per-unit shipping and handling costs, partially offset by higher average sales prices. Salt per-unit shipping and handling cost increases were due to a combination of inflationary pressure on logistics rates and fuel and wider mix of shipping points.
Previous wording
•The gross profit of the Plant Nutrition segment increased $8.8 million, due to higher average sales prices and lower per-unit product and per-unit shipping and handling costs. Plant Nutrition per-unit shipping and handling cost decreases reflect a combination of changes in customer and mode of transportation mix and inflationary pressure on logistic rates.
Current wording
•Plant Nutrition segment gross profit increased $3.2 million, primarily due to higher average sales prices and lower per-unit product and per-unit shipping and handling costs, partially offset by lower sales volumes. Plant Nutrition per-unit shipping and handling cost decreases reflect a combination of changes in customer and mode of transportation mix and inflationary pressure on logistics rates.
Previous wording
•Gross profit increased 31.6%, or $35.1 million, driven by higher Plant Nutrition and Salt segment gross profits. Gross margin increased 3.3 percentage points to 17.2%.
Current wording
•Gross profit increased 20.9%, or $31.8 million, primarily reflecting higher Plant Nutrition and Salt segment gross profits. Gross margin increased by 2.3 percentage points to 17.3%.
Previous wording
•Salt segment gross profit increased $15.2 million, primarily due to higher average sales prices, partially offset by lower sales volumes and higher per-unit product and per-unit shipping and handling costs. Salt per-unit shipping and handling cost increases were due to a combination of inflationary pressure on logistic rates and wider mix of shipping points.
Current wording
•Salt segment gross profit increased $8.4 million, primarily due to higher average sales prices, partially offset by lower sales volumes and higher per-unit product and per-unit shipping and handling costs. Salt per-unit shipping and handling cost increases were due to a combination of inflationary pressure on logistics rates and fuel and wider mix of shipping points.
Previous wording
•The gross profit of the Plant Nutrition segment increased $17.3 million, due to higher average sales prices and lower per-unit product and per-unit shipping and handling costs, which were partially offset by lower sales volumes. Plant Nutrition per-unit shipping and handling cost decreases reflect a combination of changes in customer and mode of transportation mix and inflationary pressure on logistic rates.
Current wording
•Plant Nutrition segment gross profit increased $20.5 million, due to higher average sales prices and lower per-unit product and per-unit shipping and handling costs, which were partially offset by lower sales volumes. Plant Nutrition per-unit shipping and handling cost decreases reflect a combination of changes in customer and mode of transportation mix and inflationary pressure on logistics rates.
Previous wording
•The decrease of $2.6 million in selling, general and administrative expense from $29.6 million to $27.0 million during the three months ended March 31, 2026, compared to three months ended March 31, 2025, was primarily due to a reduction in corporate compensation expense.
Current wording
•The increase of $3.0 million in selling, general and administrative expense from $24.0 million to $27.0 million during the three months ended June 30, 2026, compared to three months ended June 30, 2025, was primarily due to higher incentive compensation expense and increased consulting costs incurred to support executive leadership initiatives and operational improvements at our manufacturing facilities. These increases were partially offset by a decrease in outside legal costs.
Previous wording
•No impairment loss was recorded during the three months ended March 31, 2026. During the three months ended March 31, 2025, we recorded an impairment loss of $53.0 million related to the exit of the Fortress fire retardant business. See Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q.
Current wording
•No impairment loss was recorded during the three months ended June 30, 2026. During the three months ended June 30, 2025, we recorded an impairment loss of long-lived assets of $0.7 million related to the exit of the Fortress fire retardant business. See Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q for further information.
Previous wording
•Foreign exchange gain was $5.6 million during the three months ended March 31, 2026, compared to a gain of $0.1 million in the same quarter of the prior-year period, primarily reflecting the translation of our intercompany loans from Canadian dollars to U.S. dollars.
Current wording
•Foreign exchange gain was $4.0 million during the three months ended June 30, 2026, compared to a loss of $8.4 million in the same quarter of the prior-year period, primarily reflecting the translation of our intercompany loans from Canadian dollars to U.S. dollars.
Previous wording
•Our income tax provision for the three months ended March 31, 2026 and March 31, 2025 differs from the U.S. statutory rate primarily due to U.S. statutory depletion, state income taxes, nondeductible executive compensation, foreign income, mining and withholding taxes, impacts of the sale of the Wynyard SOP business, valuation allowance expense, and base erosion and anti-abuse tax.
Current wording
•Our income tax provision for both the three months ended June 30, 2026 and June 30, 2025 differs from the U.S. statutory rate primarily due to U.S. valuation allowance expense, statutory depletion, state income taxes, nondeductible executive compensation, foreign income, mining and withholding taxes, and base erosion and anti-abuse tax.
Previous wording
•The decrease of $9.3 million in selling, general and administrative expense from $62.9 million to $53.6 million during the six months ended March 31, 2026, compared to the six months ended March 31, 2025, was primarily due to reductions in corporate compensation expense, professional services and legal fees.
Current wording
•The decrease of $6.3 million in selling, general and administrative expense from $86.9 million to $80.6 million during the nine months ended June 30, 2026, compared to the nine months ended June 30, 2025, was primarily due to lower legal costs and incentive compensation expense, partially offset by increased consulting costs incurred to support executive leadership initiatives and operational improvements at our manufacturing facilities.
Previous wording
•No impairment loss was recorded during the six months ended March 31, 2026. During the six months ended March 31, 2025, we recorded an impairment loss of $53.0 million related to the exit of the Fortress fire retardant business. See Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q.
Current wording
•No impairment loss was recorded during the nine months ended June 30, 2026. During the nine months ended June 30, 2025, we recorded an impairment loss of $53.7 million related to intangible and long-lived assets due to the exit of the Fortress fire retardant business. See Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q.
Previous wording
•Other operating income was $0.0 million and $2.2 million, for the six months ended March 31, 2026 and March 31, 2025, respectively. Other operating income in the prior-year period was mostly due to changes in contingent consideration related to the Fortress acquisition and a net increase in severance costs resulting from the decision to exit the Fortress fire retardant business. See Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q.
Current wording
•Other operating income was $0.0 million for the nine months ended June 30, 2026 compared to $1.6 million in the prior-year period. Other operating income in the prior-year period was mostly due to changes in contingent consideration related to the Fortress acquisition, partially offset by severance costs resulting from the decision to exit the Fortress fire retardant business. See Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q.
Previous wording
•Foreign exchange gain was $3.5 million during the six months ended March 31, 2026, compared to a gain of $5.3 million in the prior-year period, primarily reflecting the translation of our intercompany loans from Canadian dollars to U.S. dollars.
Current wording
•Foreign exchange gain was $7.5 million during the nine months ended June 30, 2026, compared to a loss of $3.1 million in the prior-year period, primarily reflecting the translation of our intercompany loans from Canadian dollars to U.S. dollars.
Previous wording
•The sale of our Wynyard SOP business during the six months ended March 31, 2026, resulted in a pre-tax loss on sale of business, net, of $14.6 million, which included $13.1 million of cumulative foreign currency translation adjustments reclassified from Accumulated other comprehensive loss, with no comparable activity in the prior-year period. See Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q.
Current wording
•The sale of our Wynyard SOP business during the nine months ended June 30, 2026, resulted in a pre-tax loss on sale of business, net, of $14.5 million, which included $13.1 million of cumulative foreign currency translation adjustments reclassified from Accumulated other comprehensive loss, with no comparable activity in the prior-year period. See Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q.
Previous wording
•During the three months ended March 31, 2026, we recorded a $0.5 million loss on extinguishment of debt related to the write-off of deferred financing costs from the redemption of the 2027 Notes, with no comparable activity in the prior-year period.
Current wording
•During the nine months ended June 30, 2026, we recorded a $0.5 million loss on extinguishment of debt related to the write-off of unamortized deferred financing costs from the redemption of the 2027 Notes. During the nine months ended June 30, 2025, we recorded a loss on extinguishment of debt of $7.6 million, comprised of a $3.9 million prepayment premium related to the partial redemption of the 2027 Notes and a $3.7 million write-off of unamortized deferred financing costs related to the partial redemption of 2027 Notes and repayment of our term loan.
Previous wording
•Other expense was $0.8 million for the six months ended March 31, 2026, compared to $4.5 million for the six months ended March 31, 2025, which was primarily due to fees paid and the write-off of previously capitalized deferred financing costs when we modified our credit agreement in the prior-year period.
Current wording
•Other expense was $1.0 million for the nine months ended June 30, 2026, compared to $2.0 million for the nine months ended June 30, 2025, which was primarily due to fees paid and the write-off of previously capitalized deferred financing costs when we modified our credit agreement in the prior-year period.
Previous wording
•Tax expense decreased by $5.7 million for the six months ended March 31, 2026, versus the six months ended March 31, 2025 primarily due to decreased pretax book income in foreign jurisdictions in the six months ended March 31, 2026. Note the impacts of the sale of the Wynyard SOP business recorded in Q2 and the impacts of the Ontario mining tax settlement recorded in Q1 largely offset each other through the six months ended March 31, 2026. See Note 6. Income Taxes and Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q.
Current wording
•Tax expense decreased by $2.7 million for the nine months ended June 30, 2026, compared to the nine months ended June 30, 2025, primarily due to reserves recorded in the nine months ended June 30, 2025. For the nine months ended June 30, 2026, the impact of the sale of the Wynyard SOP business recorded in the second quarter and the impact of the Ontario mining tax settlement recorded in the first quarter, largely offset each other. See Note 6. Income Taxes and Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q.
Previous wording
•Our effective tax rate was 30.6% for the six months ended March 31, 2026, which is primarily driven by the income mix by country with income recognized in foreign jurisdictions, for which tax expense was recorded, offset by losses recognized in the U.S. for which a valuation allowance has been recorded against the U.S. tax benefit carryforward as well as previously mentioned impacts of the Ontario mining tax settlement and the sale of the Wynyard SOP business. See Note 6. Income Taxes and Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q.
Current wording
•Our effective tax rate was 44.1% for the nine months ended June 30, 2026, primarily due to tax expense on income in foreign jurisdictions, partially offset by losses recognized in the U.S. for which a valuation allowance has been recorded against the U.S. tax benefit carryforward as well as previously mentioned impacts of the Ontario mining tax settlement and the sale of the Wynyard SOP business. See Note 6. Income Taxes and Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q.
Previous wording
•Our income tax provision for the six months ended March 31, 2026 and March 31, 2025 differs from the U.S. statutory rate primarily due to U.S. statutory depletion, state income taxes, nondeductible executive compensation, foreign income, mining and withholding taxes, impacts of the Ontario mining tax settlement, impacts of the sale of the Wynyard SOP business, valuation allowance expense, and base erosion and anti-abuse tax.
Current wording
•Our income tax provision for both the nine months ended June 30, 2026 and June 30, 2025 differs from the U.S. statutory rate primarily due to U.S. valuation allowance expense, statutory depletion, state income taxes, nondeductible executive compensation, foreign income, mining and withholding taxes, impacts of the Ontario mining tax settlement, impacts of the sale of the Wynyard SOP business, and base erosion and anti-abuse tax.
Previous wording
The results of operations of the consolidated records management business and other incidental revenues include sales of $3.6 million for both the three months ended March 31, 2026 and March 31, 2025, and $7.4 million and $7.2 million for the six months ended March 31, 2026 and March 31, 2025, respectively. These sales were not material to our consolidated financial results and were not included in the following operating segment financial data.
Current wording
The results of operations of the consolidated records management business and other incidental revenues include sales of $3.8 million for both the three months ended June 30, 2026 and June 30, 2025, and $11.2 million and $11.0 million for the nine months ended June 30, 2026 and June 30, 2025, respectively. These sales were not material to our consolidated financial results and were not included in the following operating segment financial data.
Previous wording
•Salt sales increased $39.2 million, or 5.8%, primarily due to higher total average sales price, partially offset by slightly lower total sales volumes.
Current wording
•Salt sales increased $7.9 million, or 4.8%, primarily due to higher total average sales price, partially offset by lower total sales volumes.
Previous wording
•Total salt sales volumes decreased 0.8%, or 59,000 tons. Highway deicing sales volumes decreased 1.9%, while consumer and industrial sales volumes increased 6.5%.
Current wording
•Total salt sales volumes decreased 3.8%, or 59,000 tons. Highway sales volumes decreased 6.1% and consumer and industrial sales volumes increased 2.8%.
Previous wording
•Combined average sales prices increased 6.6% between the two periods, reflecting changes in sales price mix. Highway deicing average sales price increased 7.9%, while consumer and industrial average sales price decreased 0.6%.
Current wording
•Combined average sales prices increased 8.9% between the two periods, reflecting changes in sales price mix. Highway average sales price increased 7.9%, while consumer and industrial average sales price increased 5.6%.
Previous wording
•Salt operating income decreased $1.7 million, primarily due to lower sales volumes and higher per-unit product and per-unit shipping and handling per-unit costs, partially offset by higher average sales price.
Current wording
•Salt operating income decreased $6.9 million, primarily due to lower sales volumes and higher per-unit product and per-unit shipping and handling per-unit costs, partially offset by higher average sales price.
Previous wording
•Total salt sales volumes decreased 19.4%, or 992,000 tons. Highway deicing sales volumes decreased 21.6% and consumer and industrial sales volumes decreased 0.4%.
Current wording
•Total salt sales volumes decreased 1.3%, or 118,000 tons. Highway sales volumes decreased 2.5%, while consumer and industrial sales volumes increased 5.5%.
Previous wording
•Combined average sales prices increased 9.7% between the two periods, reflecting changes in sales price mix. Highway deicing average sales price increased 9.5%, while consumer and industrial average sales price decreased 3.5%.
Current wording
•Combined average sales prices increased 7.0% between the two periods, reflecting changes in sales price mix. Highway average sales price increased 7.8%, while consumer and industrial average sales price increased 1.0%.
Previous wording
•Salt operating income increased $18.0 million, driven by higher average sales price, partially offset by higher per-unit product and per-unit shipping and handling costs and lower total sales volumes.
Current wording
•Salt operating income increased $11.1 million, driven by higher average sales price, partially offset by higher per-unit product and per-unit shipping and handling costs and lower total sales volumes.
Previous wording
•Plant Nutrition operating income was $7.6 million, an improvement from an operating loss of $1.8 million in the prior-year period, primarily due to higher average sales prices, lower per-unit product and per-unit shipping and handling costs, and higher sales volumes.
Current wording
•Plant Nutrition operating income was $7.8 million, an improvement from an operating income of $5.2 million in the prior-year period, primarily due to higher average sales prices, lower per-unit product and per-unit shipping and handling costs, partially offset by lower sales volumes.
Previous wording
•Plant Nutrition sales increased 6.8%, or $8.1 million, reflecting a 12.3% increase in average sales prices and a 4.6% decrease in sales volumes year over year.
Current wording
•Plant Nutrition sales increased 0.5%, or $0.9 million, reflecting a 10.2% increase in average sales prices and a 8.7% decrease in sales volumes year over year. The decrease in sales volumes was primarily attributable to the disposition of the Wynyard SOP business in March 2026, while volumes in the remaining Plant Nutrition operations declined approximately 1% compared to the prior-year period.
Showing the first 40 of 65 pairs. Open the source sections for the rest.
Rearranged current paragraphs (2)
Current report — wording carried from elsewhere
Historically, our cash flows from operating activities have generally been adequate to fund our basic operating requirements, ongoing debt service and sustaining investment in our property, plant and equipment. We have also used cash generated from operations to fund capital expenditures, pay dividends, fund smaller acquisitions and repay our debt. To a certain extent, our ability to meet our short- and long-term liquidity and capital needs is subject to general economic, financial, competitive and
Current report — wording carried from elsewhere
Our debt service obligations could, under certain circumstances, materially affect our financial condition and prevent us from fulfilling our debt obligations. As a holding company, CMI’s investments in its operating subsidiaries constitute substantially all of its assets. Consequently, our subsidiaries conduct substantially all of our consolidated operating activities and own
Rearranged previous paragraphs (6)
Previous report — wording carried elsewhere
•Other operating income was $0.0 and $2.7 million, for the three months ended March 31, 2026 and March 31, 2025, respectively. Other operating income in the prior-year period was primarily due to a gain from changes in contingent consideration related to the Fortress acquisition, partially offset by severance costs associated with the decision to exit the Fortress fire retardant business. See Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q.
Previous report — wording carried elsewhere
•The sale of our Wynyard SOP business during the three months ended March 31, 2026, resulted in a pre-tax loss on sale of business, net, of $14.6 million, which included $13.1 million of cumulative foreign currency translation adjustments reclassified from Accumulated other comprehensive loss. See Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q.
Previous report — wording carried elsewhere
Loss on Sale of Business, Net:
Previous report — wording carried elsewhere
•During the six months ended March 31, 2026, we recorded a $0.5 million loss on extinguishment of debt related to the write-off of deferred financing costs from the redemption of the 2027 Notes, with no comparable activity in the prior-year period.
Previous report — wording carried elsewhere
We have been able to manage our cash flows generated and used across Compass Minerals to indefinitely reinvest earnings in our foreign jurisdictions or efficiently repatriate those funds to the U.S. As of March 31, 2026, we had $19.3 million cash and cash equivalents that were either held directly or indirectly by foreign subsidiaries. In fiscal 2025, we did not repatriate any
Previous report — wording carried elsewhere
to the U.S. dollar could have a material adverse effect on our financial condition and our ability to meet interest and principal payments on U.S. dollar-denominated debt, including borrowings under our senior secured credit facilities.