Compass Minerals Revises FY24 Salt Segment Revenue Outlook From $900M - $920M To $900M - $910M,
Plant Nutrition Segment Revenue From $170M - $205M To $175M - $185M
Portfolio Pulse from Benzinga Newsdesk
Compass Minerals has revised its FY24 revenue outlook for its Salt and Plant Nutrition segments. The Salt segment's revenue is now expected to be between $900M and $910M, while the Plant Nutrition segment is projected to be between $175M and $185M. The company is focusing on reducing salt inventory and converting excess inventory to cash.
September 17, 2024 | 10:17 am
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Compass Minerals has adjusted its FY24 revenue guidance for the Salt and Plant Nutrition segments. The Salt segment's revenue is now expected to be slightly lower, while the Plant Nutrition segment's range has been narrowed. The company is working on reducing salt inventory and converting excess to cash.
The revision in revenue guidance indicates potential challenges in sales volumes and costs, particularly in the Plant Nutrition segment. The slight reduction in the upper range for the Salt segment suggests a cautious outlook. These factors may lead to a short-term negative impact on CMP's stock price.
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