Calumet Specialty Products Partners
The 10-second takeaway
For the quarter ended March 31 (Q1), Calumet Specialty Products Partners beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased. Non-GAAP earnings per share shrank significantly. GAAP earnings per share shrank significantly.
Gross margins increased, operating margins dropped, net margins dropped.
Calumet Specialty Products Partners booked revenue of $1.32 billion. The three analysts polled by S&P Capital IQ expected revenue of $1.28 billion on the same basis. 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 came in at $0.27. The six earnings estimates compiled by S&P Capital IQ anticipated $0.98 per share. Non-GAAP EPS of $0.27 for Q1 were 41% lower than the prior-year quarter's $0.46 per share. 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.
For the quarter, gross margin was 10.2%, 300 basis points better than the prior-year quarter. Operating margin was 4.1%, 200 basis points worse than the prior-year quarter. Net margin was 3.5%, 90 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $1.41 billion. On the bottom line, the average EPS estimate is $1.27.
Next year's average estimate for revenue is $5.38 billion. The average EPS estimate is $4.27.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 469 members out of 496 rating the stock outperform, and 27 members rating it underperform. Among 139 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 135 give Calumet Specialty Products Partners a green thumbs-up, and four 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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