Compass Minerals reported a net loss of $23.6 million for the first quarter of fiscal 2025, ended December 31, 2024, an improvement from a $75.3 million net loss in the prior-year quarter. Revenue for the quarter was $307.2 million, a decrease from $341.7 million in Q1 2024.
The Salt segment's revenue declined 12% year-over-year to $242.2 million, driven by a 13% decrease in sales volumes due to a delayed start to the winter deicing season and low pre-fill activity. Despite this, average sales prices for highway deicing salt decreased by only 1% due to disciplined pricing.
Conversely, the Plant Nutrition segment saw a 24% increase in revenue to $61.4 million, fueled by a 36% improvement in sales volumes, or 27 thousand tons. This growth occurred despite a 9% decline in average sales price per ton, reflecting global potassium-based fertilizer supply conditions.
Net cash used in operating activities significantly improved to $4.1 million, compared to $52.3 million in the prior year, largely due to inventory reductions. The company also reduced its total planned capital expenditures for fiscal 2025 to a range of $75 million to $85 million, down from the initial guidance of $100 million to $110 million.
Compass Minerals updated its fiscal 2025 guidance, lowering the total Adjusted EBITDA range to $152 million - $193 million, primarily due to a reduced outlook for the Salt segment. However, the Plant Nutrition segment's Adjusted EBITDA guidance was increased to $17 million - $24 million, reflecting higher sales expectations and lower forecasted production costs.
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