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Form 8-K COMPASS MINERALS INTERNA For: Jan 07

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January 7, 2016 4:35 PM EST


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): January 7, 2016

Compass Minerals International, Inc.
(Exact Name of Registrant as Specified in Charter)
 
 
 
 
 
 
Delaware
 
001-31921
 
36-3972986
(State or Other Jurisdiction
of Incorporation)
 
(Commission
File Number)
 
(I.R.S. Employer of
Identification Number)

  
 
 
9900 West 109th Street, Suite 100
Overland Park, KS 66210
 
66210
(Address of Principal Executive Offices)
 
(Zip Code)

(913) 344-9200
(Registrant’s Telephone Number, Including Area Code)
 
N/A
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240. 13e-4(c))


Item 7.01 Regulation FD Disclosure
On January 7, 2016, Compass Minerals International, Inc. (the "Company") issued a press release regarding fourth quarter 2015 snow-event data. The press release is furnished with this Current Report on Form 8-K as Exhibit 99.1.
The information in this Item 7.01 and Exhibit 99.1 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth in such filing.

Item 9.01. Financial Statements and Exhibits
99.1    Press Release of the Company dated January 7, 2016.



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
 
 
COMPASS MINERALS INTERNATIONAL, INC
Date: January 7, 2016
By: /s/     Matthew J. Foulston                
 
Name: Matthew J. Foulston
 
Title: Chief Financial Officer



Exhibit 99.1


For Immediate Release
            
Compass Minerals Reports Fourth-Quarter Snow-Event Data
Company reports reduced sales volumes in salt and
plant nutrition segments.

OVERLAND PARK, Kan. (Jan. 7, 2016) – Limited winter weather activity throughout Compass Minerals’ (NYSE: CMP) primary service areas significantly reduced demand for the company’s deicing products in the fourth quarter.

Eleven representative cities in the company’s primary North American highway deicing service area reported 17 snow events during the period, which was 64 percent below the 10-year average of 47.3 events. The same cities posted 35 events in the fourth quarter of 2014.

The company sold approximately 2.4 million tons of highway deicing salt products in the fourth quarter of 2015, which was a 32 percent decline from 2014 results. This total includes all highway maintenance products sold in the U.S., Canada and the U.K., as well as rock salt sold to the chemical industry. Sales of all salt products reached 3 million tons in the 2015 period compared to 4.3 million tons in the fourth quarter of 2014.

Compass Minerals’ plant nutrition business was also pressured in the fourth quarter, as a result of broad weakness in the agricultural market. The company sold 62,000 tons of plant nutrition products in the fourth quarter, which was below our guidance range of 80,000 tons to 100,000 tons, as well as prior-year results of 105,000 tons.



“While the key winter months are still ahead of us, fewer snow events combined with above-average temperatures thus far have significantly reduced salt demand. In addition, we continued to face headwinds in the agriculture market where customers have been hesitant to make purchases,” said Fran Malecha, Compass Minerals’ president and chief executive officer. “We have implemented cost-reduction measures where possible to mitigate the short-term impacts of mild winter weather and agricultural market softness.”

The company’s fourth-quarter 2015 highway deicing sales volume and regional weather data can be found on its website at www.compassminerals.com/investorresources. The number of snow events reported may not directly correlate to Compass Minerals’ deicing results due to a variety of factors, including the relative significance to the company of the cities represented and differences in the amount of salt purchased by customers to establish their pre-season stockpiles. The weather data should be used only as an indicator of the year-to-year variations in winter weather conditions in these cities. Compass Minerals draws its weather data from the U.S. National Weather Service and National Climatic Data Center, and Environment Canada, without weighting or other adjustments.

About Compass Minerals
Compass Minerals is a leading provider of essential minerals that provide solutions to nature’s challenges, including salt for winter roadway safety and other consumer, industrial and agricultural uses, and specialty plant nutrition minerals that improve the quality and yield of crops. Named one of Forbes’ 100 Most Trustworthy Companies in America in 2015, Compass Minerals’ mission is to be the best essential minerals company by delivering where and when it matters. The company produces its minerals at locations throughout the U.S. and Canada and in the U.K. For more information about Compass Minerals and its products, please visit www.compassminerals.com.
 
    


Investor Contact
Media Contact
Theresa L. Womble
Tara Hart
Director of Investor Relations
Communications Manager
+1.913.344.9362
+1.913.344.9319

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We use words such as “may,” “would,” “could,”  “should,” “will,” “likely,” “expect,” “anticipate,” “believe,” “intend,” “plan,” “forecast,” “outlook,” “project,” “estimate” and similar expressions suggesting future outcomes or events to identify forward-looking statements or forward-looking information. These statements are based on the company's current expectations and involve risks and uncertainties that could cause the company's actual results to differ materially. The differences could be caused by a number of factors, including weather conditions, pressure on prices and impact from competitive products, any inability by us to fund necessary capital expenditures, foreign exchange rates, and the cost and availability of transportation for the distribution of our products. For further information on these and other risks and uncertainties that may affect our business, see the “Risk Factors” sections of our Annual Report on Form 10-K for the year ended December 31, 2014. The company undertakes no obligation to update any forward-looking statements made in this press release to reflect future events or developments. Because it is not possible to predict or identify all such factors, this list cannot be considered a complete set of all potential risks or uncertainties.


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