Compass Minerals International, Inc. 2020 Q1 - Results - Earnings Call Presentation
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The following slide deck was published by Compass Minerals International, Inc. in conjunction with their 2020 Q1 earnings call.
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Comments (2)
I'm not so impressed. Suspending plant nutrition strategic change due to a surprise good quarter? I think the books are getting cooked. This doesnt make sense to me. All looks like one time boost, but no underlying drivers for that. I'm in the "if it doenst make sense, assume the worst" mode. Years back I was a diehard CMP fan, but they have lost their way.
I don't believe they are cooking the books, but I believe that they are speaking out of both sides of their mouths. The temporary suspension of the strategic review may be the result of the financial and political weaknesses in Brazil at this time. Without available Brazilian buyers with deep pockets, I think that CMP is waiting for a better time to sell.The increase in sales could have been expected due to very poor sales during the previous year in Brazil.North American fertilizer sales last year year were poor as well, mostly explained by wet weather that all sellers experienced.
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