v3.26.1
OPERATING SEGMENTS
 9 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
OPERATING SEGMENTS OPERATING SEGMENTS
 
The Company’s reportable segments are strategic business units that offer different products and services, and each business requires different technology and marketing strategies. The Company has presented two reportable segments in its Condensed Consolidated Financial Statements: Salt and Plant Nutrition. The Salt segment produces and markets salt, consisting primarily of sodium chloride and magnesium chloride, for use in road deicing for winter roadway safety and for dust control, food processing, water softening and other consumer, agricultural and industrial applications. The Plant Nutrition segment produces and markets various grades of SOP. On March 1, 2026, the Company sold its SOP business in Wynyard, Saskatchewan, Canada included in the Plant Nutrition segment, see Note 3. Dispositions for further information. The results of operations for the Company’s records management businesses are included in Corporate and Other in the tables below.

The chief operating decision maker (“CODM”) is the Company’s President and Chief Executive Officer. The primary measure of segment profit or loss used by the CODM to regularly evaluate performance, make key operating decisions and determine resource allocation of and among each operating segment is operating income.
Segment information is as follows (in millions):
Three Months Ended June 30, 2026SaltPlant
Nutrition
Corporate
& Other(a)
Total
Sales to external customers(b)
$173.9 $37.6 $3.8 $215.3 
Intersegment sales— 3.4 (3.4)— 
Shipping and handling cost58.8 5.2 — 64.0 
Product cost87.5 23.5 2.4 113.4 
Gross profit27.6 8.9 1.4 37.9 
Selling, general and administrative expenses6.4 1.1 19.5 27.0 
Operating income (loss)21.2 7.8 (18.1)10.9 
Other Segment Disclosures:
Depreciation, depletion and amortization17.7 7.2 0.7 25.6 
Gain on sale of business, net(c)
— (0.1)— (0.1)
Capital expenditures15.5 3.9 1.7 21.1 
Total assets (as of end of period)894.7 326.7 132.1 1,353.5 

Three Months Ended June 30, 2025SaltPlant
Nutrition
Corporate
& Other(a)
Total
Sales to external customers(b)
$166.0 $44.8 $3.8 $214.6 
Intersegment sales— 3.2 (3.2)— 
Shipping and handling cost50.0 6.7 — 56.7 
Product cost81.6 32.4 2.7 116.7 
Gross profit34.4 5.7 1.1 41.2 
Selling, general and administrative expenses6.2 0.5 17.3 24.0 
Loss on impairments(d)
— — 0.7 0.7 
Other operating expense0.1 — 0.5 0.6 
Operating income (loss)(e)(f)
28.1 5.2 (17.4)15.9 
Other Segment Disclosures:
Depreciation, depletion and amortization17.5 6.2 (0.5)23.2 
Capital expenditures14.62.90.518.0
Total assets (as of end of period)1,032.1 354.0 151.3 1,537.4 
Nine Months Ended June 30, 2026SaltPlant
Nutrition
Corporate
& Other(a)
Total
Sales to external customers(b)
$888.0 $165.4 $11.2 $1,064.6 
Intersegment sales— 6.4 (6.4)— 
Shipping and handling cost291.3 22.8 — 314.1 
Product cost440.6 118.5 7.3 566.4 
Gross profit156.1 24.1 3.9 184.1 
Selling, general and administrative expenses20.6 3.3 56.7 80.6 
Operating income (loss)135.5 20.8 (52.8)103.5 
Other Segment Disclosures:
Depreciation, depletion and amortization53.8 23.9 2.5 80.2 
Loss on sale of business, net(c)
— 14.5 — 14.5 
Capital expenditures46.5 13.1 2.5 62.1 

Nine Months Ended June 30, 2025SaltPlant
Nutrition
Corporate
& Other(a)
Total
Sales to external customers(b)
$840.9 $164.5 $11.0 $1,016.4 
Intersegment sales— 8.7 (8.7)— 
Shipping and handling cost263.2 25.5 — 288.7 
Product cost430.0 135.4 10.0 575.4 
Gross profit147.7 3.6 1.0 152.3 
Selling, general and administrative expenses22.7 3.3 60.9 86.9 
Loss on impairments(d)
— — 53.7 53.7 
Other operating expense (income)0.6 — (2.2)(1.6)
Operating income (loss)(e)(f)
124.4 0.3 (111.4)13.3 
Other Segment Disclosures:
Depreciation, depletion and amortization52.4 21.1 3.0 76.5 
Capital expenditures42.1 9.1 2.6 53.8 

Disaggregated revenue by product type is as follows (in millions):
Three Months Ended June 30, 2026SaltPlant
Nutrition
Corporate
& Other(a)
Total
Highway Salt$89.9 $— $— $89.9 
Consumer & Industrial Salt84.0 — — 84.0 
SOP— 41.0 — 41.0 
Eliminations & Other— (3.4)3.8 0.4 
Sales to external customers$173.9 $37.6 $3.8 $215.3 
Three Months Ended June 30, 2025SaltPlant
Nutrition
Corporate
& Other(a)
Total
Highway Salt$88.8 $— $— $88.8 
Consumer & Industrial Salt77.2 — — 77.2 
SOP— 48.0 — 48.0 
Eliminations & Other— (3.2)3.8 0.6 
Sales to external customers$166.0 $44.8 $3.8 $214.6 

Nine Months Ended June 30, 2026SaltPlant
Nutrition
Corporate
& Other(a)
Total
Highway Salt$579.6 $— $— $579.6 
Consumer & Industrial Salt308.4— — 308.4 
SOP— 171.8 — 171.8 
Eliminations & Other— (6.4)11.2 4.8 
Sales to external customers$888.0 $165.4 $11.2 $1,064.6 

Nine Months Ended June 30, 2025SaltPlant
Nutrition
Corporate
& Other(a)
Total
Highway Salt$551.7 $— $— $551.7 
Consumer & Industrial Salt289.2 — — 289.2 
SOP— 173.2 — 173.2 
Eliminations & Other— (8.7)11.0 2.3 
Sales to external customers$840.9 $164.5 $11.0 $1,016.4 
(a)Corporate and Other includes corporate entities, records management operations and other incidental operations and eliminations. Operating income (loss) for Corporate and Other includes indirect corporate overhead, including costs for general corporate governance and oversight, as well as costs for human resources, information technology, legal and finance functions.
(b)Sales to external customers are net of intersegment sales.
(c)The Company recorded a pre-tax Gain on sale of business, net of $0.1 million for the three months ended June 30, 2026, and a pre-tax Loss on sale of business, net, of $14.5 million, which included $13.1 million of cumulative foreign currency translation adjustments reclassified from Accumulated other comprehensive loss, for the nine months ended June 30, 2026.
(d)The Company recorded an impairment loss of $0.7 million and $53.7 million related to the exit of the Fortress fire retardant business for the three and nine months ended June 30, 2025, respectively.
(e)For the three and nine months ended June 30, 2025, the Company recorded costs of $0.2 million and $2.0 million, respectively, related to a recall of food-grade salt produced at its Goderich plant.
(f)For the three and nine months ended June 30, 2025, the Company incurred severance and related charges of $0.3 million and $4.3 million, respectively, due to a reduction in workforce, changes to executive leadership and additional restructuring costs related to the exit of the Fortress fire retardant business.