Mild weather forces Compass Minerals to cut jobs, lower earnings guidance

A thermometer shows the temperature. | Courtesy of Kevin Dooley/Flickr
Unseasonably warm weather has taken a toll on Compass Minerals. | Courtesy of Kevin Dooley/Flickr

Unseasonably warm weather and a corresponding drop in demand for salt on roadways is taking a toll on business for Overland Park, Kan.-based Compass Minerals.

The company, a supplier of salt, plant nutrients and magnesium chloride, announced Tuesday that it would reduce staff by about 90, cut production at a Canadian salt mine and lower its full-year earnings guidance below its previous per-share projection of $5.20 to $5.50.

Earlier this month, Compass announced it would pay $120.7 million for 35 percent of a Brazilian company that makes and distributes specialty plant nutrients. The agreement would allow Compass to acquire the whole company by 2019.

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