Calumet Specialty Products Partners (Nasdaq: CLMT) is expected to report Q2 earnings around July 18. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Calumet Specialty Products Partners's revenues will grow 23.3% and EPS will compress -44.4%.

The average estimate for revenue is $1.34 billion. On the bottom line, the average EPS estimate is $0.79.

Revenue details
 Last quarter, Calumet Specialty Products Partners booked revenue of $1.32 billion. GAAP reported sales were 13% higher than the prior-year quarter's $1.17 billion.

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

EPS details
 Last quarter, non-GAAP EPS came in at $0.27. GAAP EPS of $0.66 for Q1 were 32% lower than the prior-year quarter's $0.97 per share.

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

Recent performance
 For the preceding quarter, gross margin was 10.2%, 300 basis points better than the prior-year quarter. Operating margin was 5.4%, 70 basis points worse than the prior-year quarter. Net margin was 3.5%, 90 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $5.25 billion. The average EPS estimate is $2.90.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 477 members out of 502 rating the stock outperform, and 25 members rating it underperform. Among 134 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 132 give Calumet Specialty Products Partners a green thumbs-up, and two 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 $39.00.

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