CLMT earnings call for the period ending June 30, 2019.
News & Analysis: Calumet Specialty Products Partners
A quarter that was expected to be profitable wasn't.
It looks like management's operational-improvement plans are starting to make a difference on Calumet's income statement.
It doesn't take much to move Calumet's stock anymore, but this month gave the company's turnaround story an extra boost courtesy of President-elect Donald Trump.
With a burdensome debt load and little help from the refining market, Calumet's stock took a steep tumble last month.
Shares may have made a decent run last month, but that doesn't mean things have changed much.
Calumet shed one of its unprofitable assets this past month, which is one small step towards a more profitable future.
Calumet's payout was one of the largest reasons to own its stock. Without it, investors see little reason to hang on.
Signs that refining margins won't be what they were this time last year, and a recent investment that's not panning out as originally hoped, boyh weighed on the company's stock.