Calumet Specialty Products Partners
The 10-second takeaway
For the quarter ended June 30 (Q2), Calumet Specialty Products Partners beat expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share grew.
Margins expanded across the board.
Calumet Specialty Products Partners logged revenue of $1.09 billion. The two analysts polled by S&P Capital IQ expected sales of $994.3 million on the same basis. GAAP reported sales were 48% higher than the prior-year quarter's $733.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.42. The three earnings estimates compiled by S&P Capital IQ predicted $0.59 per share. GAAP EPS were $1.14 for Q2 compared to -$0.19 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 11.8%, 490 basis points better than the prior-year quarter. Operating margin was 7.2%, 580 basis points better than the prior-year quarter. Net margin was 6.0%, 700 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $972.6 million. On the bottom line, the average EPS estimate is $0.59.
Next year's average estimate for revenue is $4.07 billion. The average EPS estimate is $2.44.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 413 members out of 440 rating the stock outperform, and 27 members rating it underperform. Among 132 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 125 give Calumet Specialty Products Partners a green thumbs-up, and seven 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 hold, with an average price target of $23.67.
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