[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited consolidated financial statements, including balance sheets, statements of operations, cash flows, and accompanying notes, for the quarter ended December 31, 2021 [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) The company's total assets increased to **$1.69 billion**, while total stockholders' equity slightly decreased to **$288.0 million** as of December 31, 2021 Consolidated Balance Sheet Highlights (in millions) | Account | Dec 31, 2021 | Sep 30, 2021 | | :--- | :--- | :--- | | **Total Current Assets** | $585.2 | $531.4 | | **Total Assets** | **$1,693.1** | **$1,630.9** | | **Total Current Liabilities** | $197.4 | $195.4 | | **Long-Term Debt** | $1,004.9 | $935.4 | | **Total Liabilities** | $1,405.1 | $1,387.8 | | **Total Stockholders' Equity** | **$288.0** | **$293.1** | [Consolidated Statements of Operations](index=4&type=section&id=Consolidated%20Statements%20of%20Operations) Sales increased to **$331.5 million**, but operating earnings decreased to **$20.4 million** and net earnings fell to **$2.4 million** for the three months ended December 31, 2021 Consolidated Statement of Operations (in millions, except per share data) | Metric | Q1 FY2022 (ended Dec 31, 2021) | Q1 FY2021 (ended Dec 31, 2020) | | :--- | :--- | :--- | | Sales | $331.5 | $309.2 | | Gross Profit | $59.9 | $58.5 | | Operating Earnings | $20.4 | $28.1 | | Net Earnings from Continuing Operations | $7.9 | $14.7 | | Net (Loss) from Discontinued Operations | ($5.5) | $13.4 | | **Net Earnings** | **$2.4** | **$28.1** | | **Diluted EPS** | **$0.07** | **$0.81** | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was **$14.3 million**, while net cash provided by financing activities was **$63.3 million** for the three months ended December 31, 2021 Cash Flow Summary (in millions) | Cash Flow Activity | Three Months Ended Dec 31, 2021 | Three Months Ended Dec 31, 2020 | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | ($14.3) | ($13.3) | | Net Cash Used in Investing Activities | ($41.2) | ($23.0) | | Net Cash Provided by Financing Activities | $63.3 | $22.1 | | **Net Change in Cash and Cash Equivalents** | **$7.9** | **($13.1)** | [Notes to Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes detail significant accounting policies, discontinued operations, segment performance, debt, and ongoing legal and regulatory matters, including an SEC investigation and Canadian tax disputes - The company transitioned to a September 30 fiscal year end in 2021, with fiscal year 2022 commencing on October 1, 2021[31](index=31&type=chunk) - The company's South America chemicals and specialty plant nutrition businesses, investment in Fermavi, and North America micronutrient business have been classified as held for sale and are reported as discontinued operations[37](index=37&type=chunk)[38](index=38&type=chunk)[40](index=40&type=chunk) - The company is under investigation by the SEC's Division of Enforcement regarding disclosures concerning the Goderich mine, its South American business, and related accounting matters, with several executives receiving Wells Notices from the SEC staff[75](index=75&type=chunk)[76](index=76&type=chunk)[77](index=77&type=chunk) - Canadian provincial tax authorities have issued tax reassessments totaling **$167.0 million** (including interest) for fiscal years 2002-2016, which the company is disputing[68](index=68&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the financial results for the first quarter of fiscal 2022, highlighting increased sales but decreased operating earnings, along with the fiscal 2022 outlook and liquidity position [Consolidated Results of Continuing Operations](index=25&type=section&id=Consolidated%20Results%20of%20Continuing%20Operations) Total sales increased by **7%** to **$331.5 million**, but operating earnings decreased by **27%** to **$20.4 million** due to higher SG&A and lower Salt segment gross profit - Total sales increased by **7%** (**$22.3 million**), primarily due to the Salt segment[131](index=131&type=chunk) - Operating earnings decreased by **27%** (**$7.7 million**) due to higher corporate SG&A expenses (executive transition, lithium project, SEC investigation costs) and lower Salt segment operating earnings[131](index=131&type=chunk)[136](index=136&type=chunk) - Adjusted EBITDA from continuing operations decreased by **6%** (**$3.6 million**) to **$58.4 million**[131](index=131&type=chunk)[179](index=179&type=chunk) [Operating Segment Performance](index=27&type=section&id=Operating%20Segment%20Performance) Salt segment sales increased **20%** to **$273.9 million** with an **11%** drop in operating earnings, while Plant Nutrition sales decreased **30%** to **$54.6 million** but operating earnings rose **188%** Salt Segment Performance | Metric | Q1 FY2022 | Q1 FY2021 | % Change | | :--- | :--- | :--- | :--- | | Sales (in millions) | $273.9 | $228.5 | +20% | | Operating Earnings (in millions) | $39.4 | $44.5 | -11% | | Total Tons Sold (thousands) | 3,440 | 2,783 | +24% | Plant Nutrition Segment Performance | Metric | Q1 FY2022 | Q1 FY2021 | % Change | | :--- | :--- | :--- | :--- | | Sales (in millions) | $54.6 | $78.2 | -30% | | Operating Earnings (in millions) | $9.5 | $3.3 | +188% | | Sales Volumes (thousands of tons) | 83 | 143 | -42% | | Average Sales Price (per ton) | $660 | $548 | +20% | [Fiscal 2022 Outlook](index=28&type=section&id=Fiscal%202022%20Outlook) The company provides its fiscal 2022 outlook, projecting Salt segment sales volumes between **11.8 million** and **12.8 million tons**, and capital expenditures between **$100 million** and **$110 million** - Salt segment sales volumes for fiscal 2022 are expected to range from **11.8 million** to **12.8 million tons**[152](index=152&type=chunk) - Plant Nutrition segment sales volumes for fiscal 2022 are expected to range from **280,000** to **320,000 tons**[152](index=152&type=chunk) - Fiscal 2022 capital expenditures are expected to be between **$100 million** and **$110 million**[152](index=152&type=chunk) [Liquidity and Capital Resources](index=28&type=section&id=Liquidity%20and%20Capital%20Resources) As of December 31, 2021, total outstanding debt was **$1.01 billion**, with **$158.6 million** available under the revolving credit facility, and the dividend was reduced to support strategic investments - As of Dec 31, 2021, total outstanding debt was **$1.01 billion**, with **$158.6 million** available under the revolving credit facility[159](index=159&type=chunk) - The company reduced its dividend by approximately **80%** in November 2021 to provide liquidity for strategic expansion opportunities[171](index=171&type=chunk) - Key capital projects for fiscal 2022 include a **$15 million** upgrade to the Cote Blanche mine barge dock and a **$15 million** allocation for a direct lithium extraction plant at the Ogden facility[172](index=172&type=chunk) - The company completed a **$50 million** total equity investment in Fortress North America, a fire-retardant products company, reaching a **45%** ownership interest in January 2022[173](index=173&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=36&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to market risks from interest rates, foreign currency exchange rates, and commodity pricing, which are partially mitigated by derivative instruments - The company is subject to market risks from interest rates, foreign currency exchange rates (Canadian dollar, British pound), and commodity prices[189](index=189&type=chunk) - Derivative instruments are used to mitigate exposure to natural gas prices and foreign currency fluctuations[189](index=189&type=chunk) [Controls and Procedures](index=36&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, and the company has remediated a previously reported material weakness in internal controls over financial reporting - The CEO and CFO concluded that disclosure controls and procedures were effective as of December 31, 2021[191](index=191&type=chunk) - The company has remediated the previously reported material weakness in internal controls over financial reporting related to interim inventory valuation[192](index=192&type=chunk) [PART II. OTHER INFORMATION](index=37&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=37&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to disclosures in Notes 7 and 9 of the financial statements, detailing ongoing legal matters including Canadian tax disputes and an SEC investigation - The company is involved in legal proceedings detailed in Notes 7 and 9, which include Canadian tax disputes and an SEC investigation[195](index=195&type=chunk) [Risk Factors](index=37&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to previously disclosed risk factors, with readers referred to the Transition Report on Form 10-KT for a full discussion - The company refers to its Transition Report on Form 10-KT for the period ended September 30, 2021, for a full discussion of applicable risk factors[196](index=196&type=chunk)

Financial Data and Key Metrics Changes - The company achieved a consolidated revenue growth of 20% in fiscal 2021 compared to the prior year, driven by strong sales volumes across core business segments despite supply chain challenges and inflationary pressures [12][36] - Operating earnings increased by 5% year-over-year, while adjusted EBITDA rose nearly 4% compared to the previous year [13] - The company ended the fiscal year with a strong liquidity position of nearly $220 million [13] Business Segment Data and Key Metrics Changes - In the salt segment, revenue increased by 22% to $671.1 million for fiscal 2021, primarily due to severe winter weather driving strong highway sales volumes, although average salt prices decreased by 5% [41] - The plant nutrition segment saw a significant revenue growth of 60% in the third quarter compared to the prior year, driven by a 46% increase in sales volumes [18][45] - Operating earnings for the salt segment totaled $133.2 million for fiscal 2021, while the plant nutrition segment reported lower operating earnings of $5.8 million due to elevated production costs [44][46] Market Data and Key Metrics Changes - Committed salt volumes for the 2021-2022 North America highway de-icing bid season increased by approximately 17% compared to the previous year, with pricing remaining relatively flat [17] - The overall winter season saw snow events 8% below the 10-year average, impacting pricing during the early part of the bid season [17] Company Strategy and Development Direction - The company is focusing on organic growth opportunities, including the development of a sustainable lithium brine resource and a minority stake in a next-generation fire retardant business [24][30] - A strategic shift in capital allocation has been approved, reducing the quarterly dividend by approximately 80% to fund growth initiatives [55] - The company aims to strengthen its core assets and production capabilities while maintaining a healthy balance sheet and lower leverage [33] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about long-term performance despite current inflationary pressures and operational challenges [32][57] - The company anticipates improved revenue and lower EBITDA generation in the salt segment during the first half of fiscal 2022, with expectations of recovering increased shipping costs in the upcoming bid season [57][58] Other Important Information - The company has made significant strides in reducing outstanding debt by 30% through divestitures, enhancing financial flexibility [21][53] - New leadership appointments have been made to support the lithium development process, bringing extensive experience in the industry [26] Q&A Session Summary Question: Can you help us with the cadence of the Q1 versus Q2 earnings for both salt and plant nutrition? - Management indicated that plant nutrition will see stronger profitability in the second quarter, while salt profitability will be driven by winter weather demand [66][67] Question: Can you tell us about Fortress' revenues or EBITDA expectations? - Management refrained from providing specific revenue figures but expressed confidence in Fortress' market potential and the efficacy of their products [69][70] Question: How much capital do you think you will need for growth projects? - Management stated that they are evaluating capital needs based on future cash flow improvements and may consider equity issuance if necessary [75][76] Question: What is the target operating rate for the Goderich salt mine? - Management aims to balance production with market needs while pursuing price increases to recover logistics costs [80] Question: Does the Fortress opportunity require additional processing of magnesium chloride? - Management confirmed that the magnesium chloride needed for Fortress' products is a small percentage of their total production and does not constrain existing customer supply [82]

Compass Minerals International, Inc. (NYSE:CMP) Q2 2021 Earnings Conference Call August 16, 2021 11:00 AM ET Company Participants Douglas Kris - Senior Director, IR Kevin Crutchfield - President and CEO Jamie Standen - CFO George Schuller - Chief Operations Officer Brad Griffith - Chief Commercial Officer Conference Call Participants David Begleiter - Deutsche Bank Mark Connelly - Stephens Seth Goldstein - Morningstar Joel Jackson - BMO Capital Markets Chris Shaw - Crespi & Hardt David Silver - CL King Jeff ...

Title of each class Trading Symbol Name of each exchange on which registered Common stock, $0.01 par value CMP The New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________________ to ____ ...

Title of each class Trading Symbol Name of each exchange on which registered Common stock, $0.01 par value CMP The New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________________ to ___ ...

Compass Minerals International, Inc. (NYSE:CMP) Q1 2021 Results Conference Call May 5, 2021 10:00 AM ET Company Participants Douglas Kris - Senior Director, IR Kevin Crutchfield - President and CEO Jamie Standen - CFO Brad Griffith - Chief Commercial Officer George Schuller - Chief Operations Officer Conference Call Participants Vincent Anderson - Stifel Seth Goldstein - Morningstar Joel Jackson - BMO Capital Markets Mark Connelly - Stephens David Silver - CL King Chris Shaw - Monness, Crespi Operator Welco ...

United States Securities and Exchange Commission Washington, D.C. 20549 FORM 10-K (MARK ONE) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number 001-31921 Compass Minerals International, Inc. (Exact name of registrant as specified in its charter) Delaware 36-3972986 ...

Financial Data and Key Metrics Changes - For the full year 2020, net income decreased by approximately 5% and adjusted EBITDA decreased by approximately 8% compared to 2019 results [9] - The company generated over $175 million in cash flow from operations for the full year and returned $99 million to shareholders through dividends [9][10] - The estimated negative impact on operating income due to weak winter weather was approximately $40 million to $45 million [8][19] Business Line Data and Key Metrics Changes - In the Salt segment, total sales for Q4 2020 were $228.5 million, down from $310.9 million in Q4 2019, with a 23% decline in sales volumes [22] - The Plant Nutrition North America segment saw a 15.9% increase in Q4 total sales revenue to $88.7 million, driven by a 23% increase in sales volumes [26] - The South American Plant Nutrition segment achieved a 24% year-over-year increase in Q4 revenue in local currency, with a full year increase of 18% [28][29] Market Data and Key Metrics Changes - The Brazilian currency weakened by approximately 33% during the year compared to the U.S. dollar, negatively impacting U.S. results [8] - The company faced challenges from external factors such as wildfires and drought, which affected demand timing from Plant Nutrition customers [8][13] Company Strategy and Development Direction - The company commenced a strategic separation of its South American assets to unlock maximum value and reduce debt [10] - The focus remains on optimizing operations across five value streams: operations, commercial, logistics, procurement, and working capital [15][16] - The company aims to maintain a strong liquidity position with no material debt maturities due for over three years [10][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term value the company can deliver despite the challenges faced in 2020 [20] - The company anticipates a significant increase in Salt volumes as winter weather normalizes and expects high single-digit sales volume growth for Plant Nutrition South America [34] - Management highlighted the importance of employee safety and operational resilience during the pandemic [17][18] Other Important Information - The company achieved a multiyear low for its total case incident rate, reflecting its commitment to employee safety [17] - The Salt segment's adjusted EBITDA margins increased to 29.3% for the full year, despite a decrease in adjusted EBITDA [25] Q&A Session Summary Question: Long-term margin profile expectations for Salt and Plant Nutrition - Management indicated a target EBITDA margin in the low-to-mid-30s for Salt and expects a snapback in Plant Nutrition margins [38][39] Question: Impact of winter conditions on operations - Management noted that the UK operations had a strong start, while U.S. market share strategies would focus on disciplined pricing and production [40] Question: Guidance accuracy and historical performance - Management acknowledged past guidance challenges but expressed confidence in the current year's guidance based on expected average weather conditions [43][44] Question: Freight cost sensitivity and impact on guidance - Management confirmed that freight costs would have some pressure in the back half of 2021 due to rising oil prices, but expected lower costs in the first quarter [46] Question: Harvesting improvements and financial benefits - Management confirmed that harvesting improvements would still proceed despite lower volumes, expecting benefits to flow through in the coming year [48][49] Question: Clarification on Avery Island closure - Management clarified that the closure of Avery Island would not impact the current year's bid season but would create a void in the market [58]

Compass Minerals International, Inc. (NYSE:CMP) Q3 2020 Earnings Call November 5, 2020 11:00 AM ET Executives Theresa L. Womble - Compass Minerals International, Inc. Kevin S. Crutchfield - Compass Minerals International, Inc. James D. Standen - Compass Minerals International, Inc. George J. Schuller - Compass Minerals International, Inc. S Bradley Griffith - Compass Minerals International, Inc. Analysts Mark Connelly - Stephens, Inc. Vincent Alwardt Anderson - Stifel, Nicolaus & Co., Inc. Christopher Parki ...

Compass Minerals International, Inc. (NYSE:CMP) Q2 2020 Earnings Conference Call August 5, 2020 10:00 AM ET Company Participants Theresa Womble - Director, Investor Relations Kevin Crutchfield - Chief Executive Officer Jamie Standen - Chief Financial Officer Brad Griffith - Chief Commercial Officer George Schuller - Chief Operating Officer Conference Call Participants Mark Connelly - Stephens Vincent Anderson - Stifel Chris Parkinson - Credit Suisse Joel Jackson - BMO Capital Markets David Begleiter - Deuts ...