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So, the Wheels Came Off Calumet Specialty Products Partners's Bus

Calumet Specialty Products Partners (Nasdaq: CLMT  ) reported earnings on Feb. 13. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Calumet Specialty Products Partners beat expectations on revenues and whiffed on earnings per share.

Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share expanded significantly.

Margins grew across the board.

Revenue details
Calumet Specialty Products Partners recorded revenue of $1.22 billion. The three analysts polled by S&P Capital IQ wanted to see net sales of $1.05 billion on the same basis. GAAP reported sales were 20% higher than the prior-year quarter's $1.02 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.60. The six earnings estimates compiled by S&P Capital IQ predicted $0.68 per share. GAAP EPS of $0.73 for Q4 were 43% higher than the prior-year quarter's $0.51 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 11.6%, 370 basis points better than the prior-year quarter. Operating margin was 6.0%, 160 basis points better than the prior-year quarter. Net margin was 3.7%, 110 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $1.10 billion. On the bottom line, the average EPS estimate is $0.68.

Next year's average estimate for revenue is $4.66 billion. The average EPS estimate is $3.23.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 459 members out of 487 rating the stock outperform, and 28 members rating it underperform. Among 150 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 145 give Calumet Specialty Products Partners a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Calumet Specialty Products Partners is outperform, with an average price target of $32.75.

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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Read/Post Comments (3) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On February 13, 2013, at 5:18 PM, Diogenes2020 wrote:

    So EPS for Q4 YOY nearly tripled, and just as last year, the analysts forecast an EPS figure that was higher than reported.

    Perhaps it was the analysts who whiffed, and not CLMT.

    Personally, I am quite happy with the CLMT results, management's reasons for lower revenues and earnings for specialty products (waiting for market prices to firm up before selling), and their 2013 plans.

    I've been long since late 2008 and keep adding to my position on the dips. I'd advise others to do the same, though recent stock price run-up causes me to wonder if we are currently in a "dip" and this is the lowest the stock will be for the foreseeable future.

  • Report this Comment On February 13, 2013, at 5:42 PM, cdb5556 wrote:

    Agree with Diogenes. CLMT can keep on whiffing all the way to the bank with a 7.25% yield, and a gain of almost 14% since my mid January purchase!

  • Report this Comment On February 15, 2013, at 11:37 AM, tomd728 wrote:

    Boy ! Do I have great company in Diogenes and cdp.

    Rock on Fools and you are on the money again.

    Thank you..

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