Calumet Specialty Products Partners Increases Sales but Misses Estimates on Earnings
Calumet Specialty Products Partners (NAS: CLMT) reported earnings on May 2. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Calumet Specialty Products Partners crushed expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share improved significantly.
Gross margins dropped, operating margins increased, net margins improved.
Calumet Specialty Products Partners chalked up revenue of $1.17 billion. The two analysts polled by S&P Capital IQ predicted sales of $887.7 million on the same basis. GAAP reported sales were 93% higher than the prior-year quarter's $605.2 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 $0.46. The three earnings estimates compiled by S&P Capital IQ predicted $0.51 per share. GAAP EPS of $0.97 for Q1 were much higher than the prior-year quarter's $0.11 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 7.2%, 50 basis points worse than the prior-year quarter. Operating margin was 3.0%, 110 basis points better than the prior-year quarter. Net margin was 4.4%, 370 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $963.4 million. On the bottom line, the average EPS estimate is $0.63.
Next year's average estimate for revenue is $3.69 billion. The average EPS estimate is $2.25.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 404 members out of 431 rating the stock outperform, and 27 members rating it underperform. Among 133 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 126 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 $22.67.
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At the time this article was published 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 ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. 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.