Compass Minerals International, Inc. (CMP) Bundle
A Brief History of Compass Minerals International, Inc. (CMP)
Foundation and Early Years
Compass Minerals International, Inc. was established in 1993, primarily focusing on the production and marketing of essential minerals. The company was formed through the merger of two companies: the North American Salt Company and the Great Salt Lake Minerals Corporation. It was publicly traded on the New York Stock Exchange under the ticker symbol CMP starting in 2003.
Expansion and Acquisitions
Over the years, Compass Minerals expanded its operations, acquiring significant assets to broaden its market reach. In 2010, the company acquired the salt business of the American Rock Salt Company, increasing its production capacity. In 2015, Compass Minerals acquired the remaining shares of the Great Salt Lake Minerals Corporation, increasing its ownership to 100%.
Product Lines
Compass Minerals produces a variety of products, including:
- Rock Salt: Used for de-icing roads and highways.
- Food Grade Salt: Used in food processing and production.
- Specialty Fertilizers: Including magnesium and potassium fertilizers.
Financial Performance
As of the fiscal year 2022, Compass Minerals reported the following financial metrics:
| Metric | Value (in millions USD) |
|---|---|
| Revenue | 1,048 |
| Gross Profit | 413 |
| Operating Income | 128 |
| Net Income | 83 |
| Total Assets | 2,668 |
| Total Liabilities | 1,669 |
Recent Developments
In 2021, Compass Minerals announced plans to expand its lithium production at its existing facilities. The company aims to capitalize on the growing demand for lithium batteries in electric vehicles and renewable energy storage solutions. In 2023, the company reported advancements in lithium extraction technology, aiming to increase production by 20% over the next two years.
Market Position
As of 2023, Compass Minerals holds a strong position in the global minerals market, particularly in North America and Europe. The company is recognized as one of the largest producers of salt in North America, holding approximately 40% market share in the de-icing salt segment.
Sustainability Efforts
Compass Minerals is committed to sustainable practices in its operations. The company has set goals to reduce greenhouse gas emissions by 30% by 2030 and aims to achieve zero waste to landfill at its production sites by 2025.
A Who Owns Compass Minerals International, Inc. (CMP)
Shareholder Structure
Shareholder Structure
The ownership of Compass Minerals International, Inc. (CMP) is typically divided among institutional investors, retail investors, and company insiders. As of October 2023, the following data outlines the ownership stakes:
| Shareholder Type | Percentage Ownership |
|---|---|
| Institutional Investors | 85.6% |
| Insider Ownership | 3.9% |
| Retail Investors | 10.5% |
Major Institutional Shareholders
Several institutional investors hold significant stakes in Compass Minerals. The latest data shows the following major shareholders:
| Institution | Shares Owned | Percentage Ownership |
|---|---|---|
| The Vanguard Group, Inc. | 4,200,000 | 12.8% |
| BlackRock, Inc. | 3,800,000 | 11.6% |
| State Street Corporation | 2,500,000 | 7.6% |
| Wellington Management Group LLP | 2,200,000 | 6.7% |
Insider Ownership
Insider ownership is also an important aspect of the company's structure. The following are notable insiders as of October 2023:
| Insider Name | Position | Shares Owned |
|---|---|---|
| Kevin S. Crutchfield | CEO | 150,000 |
| Rosemarie M. Rung | CFO | 75,000 |
| John D. McGowan | Director | 50,000 |
Recent Stock Performance
As of October 2023, the stock performance of Compass Minerals has varied significantly. Here are some financial metrics:
| Metric | Value |
|---|---|
| Current Share Price | $34.50 |
| Market Capitalization | $1.10 billion |
| 52-week High | $42.25 |
| 52-week Low | $28.75 |
| Dividend Yield | 3.2% |
Recent Changes in Ownership
Recent changes in ownership shall include information regarding any substantial sales or acquisitions by major shareholders:
| Event | Date | Details |
|---|---|---|
| Vanguard Group acquisition | Apr 2023 | Acquired 500,000 shares |
| BlackRock sale | Jun 2023 | Sold 300,000 shares |
| State Street purchase | Sep 2023 | Acquired 200,000 shares |
Conclusion on Ownership
The diversified ownership of Compass Minerals International, Inc. reflects a wide interest from institutional investors, insiders, and retail shareholders alike. The financial metrics indicate a company with solid backing and market presence.
Compass Minerals International, Inc. (CMP) Mission Statement
Core Mission
The mission of Compass Minerals International, Inc. is to be the world's leading producer of essential minerals, delivering innovative products for a sustainable future. The focus is on safety, quality, and efficiency while driving operational excellence and creating value for stakeholders.
Key Values
- Safety: Prioritizing the safety of employees and communities.
- Sustainability: Commitment to environmentally friendly practices.
- Integrity: Upholding ethical standards in all operations.
Strategic Goals
Compass Minerals aims to achieve long-term growth through:
- Operational Excellence: Continuous improvement in processes and productivity.
- Product Innovation: Development of new products to meet market demands.
- Market Leadership: Expanding its footprint in key markets globally.
Recent Financial Performance
As of the fiscal year ended September 30, 2023, Compass Minerals reported the following financial metrics:
| Metric | Amount (USD) |
|---|---|
| Revenue | $1.3 billion |
| Net Income | $150 million |
| EBITDA | $400 million |
| Total Assets | $2.0 billion |
| Total Liabilities | $1.1 billion |
Market Position
Compass Minerals holds a significant place in the global minerals market with:
- Ranking as one of the top producers of salt in North America.
- Meeting the increasing demand for plant nutrients and specialty agriculture products.
- Servicing over 10,000 customers worldwide.
Environmental Commitment
Compass Minerals is dedicated to sustainable practices, including:
- Reducing carbon emissions: Targeting a 25% reduction by 2025.
- Water Conservation: Implementing systems to minimize water use in operations.
- Waste Reduction: Aiming for zero waste to landfill in all manufacturing processes.
Employee Engagement
The company promotes a culture of engagement through:
- Training and Development: Investment of over $1 million in employee training programs annually.
- Diversity and Inclusion: Initiatives to increase workforce diversity by 15% by 2025.
- Health and Wellness: Comprehensive wellness programs that cover over 80% of employees.
Community Involvement
Compass Minerals invests in the communities it operates in by:
- Donations: Contributing over $500,000 annually to local charities.
- Volunteerism: Encouraging employees to contribute over 10,000 volunteer hours each year.
- Education Initiatives: Supporting STEM education programs in local schools with grants totaling $100,000.
How Compass Minerals International, Inc. (CMP) Works
Company Overview
Compass Minerals International, Inc. (CMP) operates in the minerals industry, particularly focusing on the production of essential minerals. Its primary products include salt, potash, and magnesium chloride. As of October 2023, CMP reports its operational facilities across North America and the UK.
Financial Performance
In the fiscal year ending September 2022, Compass Minerals reported the following financials:
| Metric | 2022 | 2021 | 2020 |
|---|---|---|---|
| Revenue | $1.16 billion | $1.05 billion | $1.12 billion |
| Net Income | $54 million | $29 million | $60 million |
| EBITDA | $324 million | $285 million | $296 million |
| Assets | $1.73 billion | $1.72 billion | $1.63 billion |
| Debt | $589 million | $600 million | $580 million |
Product Segments
Compass Minerals operates through several key segments:
- Salt (road safety, water conditioning, and food applications)
- Potash (used primarily in fertilizers)
- Magnesium Chloride (deicing and dust control)
Market Position
As of 2023, Compass Minerals continues to be a leading provider of salt in North America, holding approximately 40% of the market share. The company maintains its competitive edge through strategic acquisitions and expansions.
Production Capacity
Compass Minerals' production capabilities are extensive. The following table outlines the production capacities for its main products:
| Product | Annual Production Capacity (Metric Tons) | Location |
|---|---|---|
| Salt | 10 million | Detroit Salt Mine, Michigan |
| Potash | 1.1 million | Goderich, Ontario |
| Magnesium Chloride | 1.2 million | Ogden, Utah |
Environmental and Sustainability Initiatives
Compass Minerals is committed to sustainability with initiatives that include:
- Reducing greenhouse gas emissions by 25% by 2030
- Implementing water conservation strategies across all facilities
- Enhancing waste management practices to reduce landfill use
Recent Developments
In 2023, Compass Minerals announced plans to invest $200 million in expanding its potash production capacity, aiming to meet the increasing demand from the agricultural sector.
Stock Performance
The stock performance of CMP has shown notable patterns:
| Year | Stock Price (Year End) | Market Capitalization |
|---|---|---|
| 2022 | $47.85 | $1.73 billion |
| 2021 | $50.12 | $1.70 billion |
| 2020 | $41.68 | $1.45 billion |
Conclusion
Compass Minerals International, Inc. operates as a key player in the minerals industry, utilizing substantial resources and strategies for growth, sustainability, and profitability in its segments.
How Compass Minerals International, Inc. (CMP) Makes Money
Revenue Streams
Compass Minerals International, Inc. generates revenue primarily from two segments: Salt and Plant Nutrients.
Salt Segment
The Salt segment includes the production and sale of solar and rock salt for various applications. As of 2022, this segment accounted for approximately $760 million in revenue.
- De-Icing Salt: $620 million
- Industrial Salt: $120 million
- Consumer Salt: $20 million
Plant Nutrients Segment
This segment focuses on the production of specialty plant nutrients and accounted for about $184 million in revenue in 2022.
- Sulfur: $100 million
- Micro-Nutrients: $84 million
Sales Volume
In 2022, Compass Minerals sold approximately 7.5 million tons of salt products and 250,000 tons of plant nutrients.
Market Pricing
The average sales price for de-icing salt in 2022 was approximately $83 per ton, while industrial salt sold for an average of $96 per ton. The average price for their plant nutrients was around $736 per ton.
Cost Structure
For the year 2022, Compass Minerals reported total operating expenses of around $535 million, including:
- Cost of Goods Sold (COGS): $430 million
- Research and Development: $15 million
- General and Administrative Expenses: $90 million
Gross Profit
The gross profit for Compass Minerals in 2022 was approximately $409 million, reflecting a gross margin of about 34%.
Net Income
For the fiscal year ended 2022, Compass Minerals reported a net income of $75 million, representing a net profit margin of approximately 6%.
| Year | Salt Segment Revenue | Plant Nutrients Revenue | Total Revenue | Net Income |
|---|---|---|---|---|
| 2022 | $760 million | $184 million | $944 million | $75 million |
| 2021 | $700 million | $160 million | $860 million | $60 million |
| 2020 | $650 million | $150 million | $800 million | $50 million |
Geographic Markets
Compass Minerals operates primarily in North America, with approximately 80% of sales generated from this region. Other markets include Europe and South America, contributing to around 20% of total sales.
Future Outlook
Experts predict that the global demand for salt and plant nutrients will continue to rise, estimating a compound annual growth rate (CAGR) of 4% over the next five years, driven by increased road safety requirements and agricultural needs.
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