Compass Minerals reported a net loss of $43.6 million for the third quarter of fiscal 2024, ended June 30, 2024, a decline from net earnings of $36.4 million in the prior-year period. Revenue for the quarter also decreased to $202.9 million from $207.6 million in the third quarter of fiscal 2023.
The company's financial statements for multiple prior periods, including those ended June 30, 2023, September 30, 2023, December 31, 2023, and March 31, 2024, were corrected through Form 10-K/A and Form 10-Q/A filings. These restatements highlight past accounting issues that required significant adjustments.
For the nine months ended June 30, 2024, Compass Minerals recognized substantial special items, including $17.2 million in restructuring charges, $124.8 million in impairments, and a $51.0 million goodwill impairment. The company also announced it would forgo its Q3 2024 conference call due to ongoing efforts to finalize 2024 financial results and complete its 2025 budget, signaling a period of internal financial reorganization.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.