Oppeheimer Adjusting Model On Compass Minerals

According to Oppenheimer, Compass Minerals CMP pre-announced 1Q11 highway deicing sales volume of 4,278,000 tons, 1.9% above its previous estimate. Oppenheimer reported that compared to sales of 3,950,000 tons in 1Q10, volumes increased 8.3%, although "the company's ability to serve areas with exceptional demand was somewhat limited in the 2010-2011 winter season by inventory constraints." “Pricing was not reported but we adjust our model for the reported volume. We also adjust our model for the $50/ton SOP (sulfate of potash) specialty fertilizer price increase that was announced 3/17 and effective April 1st. Our 1Q11E EPS increases by 2% to $1.91 and '11E also by 2% to $5.61. Our '12E EPS is $6.41.” Compass Minerals closed yesterday at $92.64.