Wed, Aug. 5, 7:38 AM
Wed, May 6, 9:13 AM
- 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.
Wed, May 6, 8:07 AM
Fri, Feb. 27, 7:41 AM
Nov. 5, 2014, 7:14 AM
Aug. 6, 2014, 3:59 PM
- Calumet Specialty Products Partners (CLMT -3.1%) is sharply lower after reporting a large Q2 earnings miss due to longer than expected Shreveport downtime and weak fuel segment margins.
- Q2 adjusted EBITDA was $39.3M vs. $70M in the year-earlier quarter.
- Reported negative distributable cash flow of -$20.4M vs. -$2.5M in the prior-year period, with the Y/Y decrease driven primarily by the EBITDA decline and higher cash interest expense, partially offset by lower turnaround costs.
- In its earnings conference call, CLMT said pricing and demand remain strong, no major maintenance is planned at any facilities for the remainder of the year, and expects FY 2014 capex of $365M-$410M.
Aug. 6, 2014, 7:35 AM
May 8, 2014, 12:27 PM
- Calumet Specialty Products (CLMT +4.3%) powers higher as units are upgraded to Outperform from Neutral at Credit Suisse, a day after reporting Q1 earnings of $0.50/unit and revenues of $1.34B, both ahead of analyst expectations.
- CLMT's Q1 distribution coverage ratio was 0.94x, supported by an improving specialty product segment and acquisition contribution; sees total 2014 capex of $340M-$385M, with $270M-$300M allocated toward organic growth projects.
- In its upgrade, Credit Suisse notes CLMT is in the process of completing several large projects with the potential to double EBITDA by 2016, and CLMT is eyeing at least half a dozen potential acquisitions under evaluation.
Feb. 19, 2014, 7:10 AM
Nov. 6, 2013, 6:34 AM
Aug. 8, 2013, 2:29 PM
- Calumet Specialty Products (CLMT -6.5%) is cut to Neutral with a $33 price target (from $40) at Credit Suisse after disappointing Q2 results and citing the recent narrowing of crude spreads which could provide a strong headwind to a company that has expanded fuels exposure in recent years.
- CLMT increased its Q2 distribution by a half-penny vs. run-rate Q/Q distribution growth of $0.03 over the prior six quarters; the slower increase suggests a slower distribution growth outlook until late next year, when ~$60M in growth projects is scheduled for completion.
May 8, 2013, 6:48 AM
Feb. 13, 2013, 6:41 AM
Oct. 31, 2012, 6:43 AM
CLMT vs. ETF Alternatives
Calumet Specialty Products Partners LP is a producer of hydrocarbon products in North America. It owns specialty and fuel products facilities located in northwest Louisiana, northwest Wisconsin, northern Montana, Texas, New Jersey, and other areas.
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