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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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 positions in the stocks mentioned above. 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.