Oppenheimer Maintains a 'Perform' on Compass Minerals International (CMP); See Q3 as Bottom for Salt

July 31, 2012 10:23 AM EDT
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Oppenheimer maintains a 'Perform' on Compass Minerals International (NYSE: CMP).

Analyst, Edward Yang, said, "CMP continued to grapple with the after-shocks of the 2011 annus horribilis, reporting normalized 2Q12 EPS of $0.31 (excl. -$0.06 tornado impact, -$0.05 for refinancing and +$0.09 tax audit), down 26.6% year-over-year, and $0.04 below estimate. Management issued unusually detailed 3Q12 guidance, including 1MM tons of deicing salt, down a large 48% due to carry-over inventory from the prior warm winter. Positively, CMP believes that this marks the bottom, and expects the 4Q12-1Q13 winter to approximate normal volume of 7.5MM tons."

For an analyst ratings summary and ratings history on Compass Minerals International click here. For more ratings news on Compass Minerals International click here.

Shares of Compass Minerals International closed at $74.58 yesterday.

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