Calumet Specialty Products sees gains in EBITDA, distributable cash flow

• Calumet Specialty Products Partners (NASDAQ:CLMT) +2% premarket after reporting Q1 earnings and revenues that missed estimates, but EBITDA climbed to a record $124.9M vs. $82.7M for the prior-year quarter.
• CLMT says distributable cash flow increased by more than 90% Y/Y to $94.1M, resulting in a distribution coverage ratio of 1.6x vs. 0.9x in the year-ago period.
• Says it will be well positioned to consider an increase in the quarterly cash distribution as growth projects begin to generate cash flow during the next nine months.