Compass Minerals Intl Inc · NYSE:CMP
Compass Minerals Intl — Compass Minerals — FY2024 Earnings Presentation
21 slides from Compass Minerals Intl's earnings presentation, Dec 16, 2024
Slide 1: Fiscal 2024 Fourth-Quarter & Full-Year Business Update
Fiscal 2024 Fourth-Quarter & Full-Year Business Update // December 16, 2024
Slide 2: Forward-Looking Statements and Other Disclaimers
Forward-Looking Statements and Other Disclaimers This presentation may contain forward-looking statements, including, without limitation, statements about cash generation capability; debt reduction; value creation; expectations for Fortress; the company's outlook for 2025, including its expectations
Slide 3: Fiscal 2024 Fourth-Quarter & Full-Year Results
Fiscal 2024 Fourth-Quarter & Full-Year Results
Slide 4: Fiscal Fourth-Quarter and Full-Year 2024 Financial Overview
Fiscal Fourth-Quarter and Full-Year 2024 Financial Overview • Net loss for the fourth quarter of 2024 of $48.3 million, inclusive of a $17.6 million write down of certain intangible water rights in Utah • Total company adjusted EBITDA for the fourth quarter of 2024 of $15.6 million, down from $31.3
Slide 5: Fourth-Quarter and Fiscal 2024 Consolidated Results
Fourth-Quarter and Fiscal 2024 Consolidated Results 4Q24 Adjusted EBITDA1 Consolidated Results 4Q24 FY24 (in millions) Revenue (y-o-y) -11% -7% $31.3 $(6.1) $(8.7) Adjusted EBITDA1 (y-o-y) -50% +4% $(0.9) $15.6 Adjusted EBITDA1 margin 7.5% 18.5% 4Q23 Salt Plant Corp. & 4Q24 Nutrition Other Historica
Slide 6: Fourth-Quarter and Fiscal 2024 Salt Results
Fourth-Quarter and Fiscal 2024 Salt Results ($ in millions) 4Q24 4Q23 %Δ FY24 FY23 %Δ Sales Volumes (in thousands of short tons) Revenue $162.5 $186.7 -13.0% $907.8 $1,010.8 -10.2% 9,321 Adj. EBITDA1 $38.1 $44.2 -13.8% $228.2 $230.5 -1.0% 7,462 Adj. EBITDA1 margin 23.4% 23.7% -0.3 pts 25.1% 22.8% +2
Slide 7: Fourth-Quarter and Fiscal 2024 Plant Nutrition Results
Fourth-Quarter and Fiscal 2024 Plant Nutrition Results ($ in millions) 4Q24 4Q23 %Δ FY24 FY23 %Δ Revenue $42.4 $35.3 20.1% $181.0 $172.1 5.2% Sales Volumes (in thousands of short tons) Adj. EBITDA1 ($3.7) $5.0 nm $16.9 $43.8 -61.4% 273 Adj. EBITDA1 margin (8.7%) 14.2% nm 9.3% 25.5% -16.2pts 219 Aver
Slide 8: Charting a Prudent Financial Path Forward
Charting a Prudent Financial Path Forward Liquidity and Net Debt Debt Maturity Profile2 (in millions) (in millions) Liquidity Net Debt $400 $1,800 $1,600 $300 $1,400 $317 $856 Liquidity Net Debt $1,200 $1,000 $200 $227 $219 $800 $181 $190 $600 $100 $400 $200 $49 $8 $10 $0 $- 1 2020 2021 2022 2023 20
Slide 9: Outlook & Guidance
Outlook & Guidance
Slide 10: Salt and Plant Nutrition Outlook and Guidance
Salt and Plant Nutrition Outlook and Guidance Salt Plant Nutrition Long-Term Attributes Long-Term Attributes • Resilient, recession-resistant demand profile • Largest producer of SOP in the Western Hemisphere • Difficult to replicate asset base with important logistical advantages • Unique solar eva
Slide 11: Consolidated Guidance Summary
Consolidated Guidance Summary 2025 Adj. EBITDA Range (in millions) Salt $225 $250 Plant Nutrition 14 20 Corporate1 (70) (61) TOTAL $169 $209 2025 Capital Expenditure Range (in millions) TOTAL2 $100 $110 Other Consolidated Modeling Information (in millions of dollars unless otherwise noted) 2025 Rang
Slide 12: Appendix
Appendix
Slide 13: Special Items
Special Items Special Items Impacting Three Months Ended Sept. 30, 2024 (unaudited, in millions, except per share data) Item Description Segment Line Item Amount Tax Effect1 After Tax EPS Impact Other operating Restructuring charges(2) Corporate and Other $(1.4) $--- $(1.4) $(0.04) expense Loss on I
Slide 14: Special Items
Special Items Special Items Impacting the Fiscal Year Ended Sept. 30, 2024 (unaudited, in millions, except per share data) Item Description Segment Line Item Amount Tax Effect1 After Tax EPS Impact Restructuring charges(2) Corporate and Other Other operating expense $14.8 $--- $14.8 $0.36 Restructur
Slide 15: Reconciliation of Non-GAAP Information
Reconciliation of Non-GAAP Information Reconciliation for Adjusted Operating (Loss) Earnings (unaudited, in millions) Three months ended Twelve months ended Sept. 30, Sept. 31, 2024 2023 2024 2023 Operating (loss) earnings $ (29.8) $ 2.2 $ (116.8) $ 77.4 Restructuring charges1 (1.4) --- 15.8 5.5 Los
Slide 16: Reconciliation of Non-GAAP Information
Reconciliation of Non-GAAP Information Reconciliation for Adjusted Net (Loss) Earnings (unaudited, in millions) Three months ended Twelve months ended Sept. 30, Sept. 30, 2024 2023 2024 2023 Net (loss) earnings $ (48.3) $ (4.0) $ (206.1) $ 10.5 Restructuring charges1 (1.4) --- 15.8 5.5 Loss on impai
Slide 17: Reconciliation of Non-GAAP Information
Reconciliation of Non-GAAP Information Reconciliation for EBITDA and Adjusted EBITDA (unaudited, in millions) Three months ended Twelve months ended Sept. 30, Sept. 30, 2024 2023 2024 2023 Net (loss) earnings $ (48.3) $ (4.0) $ (206.1) $ 10.5 Interest expense 19.1 13.1 69.5 55.5 Income tax (benefit)
Slide 18: Salt Segment Performance
Salt Segment Performance Salt Segment Performance (in millions, except for sales volumes and prices per short ton) Three months ended Twelve months ended Sept. 30, Sept. 30, 2024 2023 2024 2023 Sales $ 162.5 $ 186.7 $ 907.8 $ 1,010.8 Operating earnings $ 21.0 $ 28.6 $ 163.6 $ 170.5 Operating margin
Slide 19: Salt Reconciliation of Non-GAAP Information
Salt Reconciliation of Non-GAAP Information Reconciliation for Salt Segment Adjusted Operating Earnings (unaudited, in millions) Three months ended Twelve months ended Sept. 30, Sept. 30, 2024 2023 2024 2023 Reported GAAP segment operating earnings $ 21.0 $ 28.6 $ 163.6 $ 170.5 Restructuring charges
Slide 20: Plant Nutrition Segment Performance
Plant Nutrition Segment Performance Plant Nutrition Segment Performance (in millions, except for sales volumes and prices per short ton) Three months ended Twelve months ended Sept. 30, Sept. 30, 2024 2023 2024 2023 Sales $ 42.4 $ 35.3 $ 181.0 $ 172.1 Operating (loss) earnings $ (29.7) $ (3.3) $ (86
Slide 21: Plant Nutrition Reconciliation of Non-GAAP Information
Plant Nutrition Reconciliation of Non-GAAP Information Reconciliation for Plant Nutrition Segment Adjusted Operating Earnings (unaudited, in millions) Three months ended Twelve months ended Sept. 30, Sept 30, 2024 2023 2024 2023 Reported GAAP segment operating (loss) earnings $ (29.7) $ (3.3) $ (86.