Analyst Note| Seth Goldstein, CFA |
On Jan. 6, Compass Minerals announced its fiscal 2022 first-quarter--from Oct. 1 to Dec. 31--snow data and salt segment volumes. During the quarter, there were only 29 snow days, or days when it snows at least 1 inch, versus the trailing 10-year average of roughly 42 days. While this was a milder start to the winter season, this quarter typically only makes up 28% of total snow days throughout the year. Further, given the heavy snowfall that has occurred throughout Compass' Midwest footprint to start 2022, we think it's still too early to determine how harsh the snowfall will ultimately be throughout the 2021-22 winter.