Calumet Specialty Products Shares Slip After Missing Q2 Estimates
Portfolio Pulse from Akanksha Bakshi
Calumet Specialty Products Partners LP (CLMT) reported a Q2 FY23 sales decline of 28.5% YoY to $1.02 billion, missing the consensus of $1.09 billion. The company also reported a net loss per unit of $(0.23), missing the consensus of $(0.07). Adjusted EBITDA was $67.7 million compared to $175.8 million a year ago. The company's shares are trading lower by 1.33% at $15.80.
August 04, 2023 | 3:42 pm
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Calumet Specialty Products reported lower than expected Q2 FY23 results, leading to a decline in its stock price.
Calumet Specialty Products reported a significant decline in sales and a larger than expected net loss per unit for Q2 FY23. This has led to a negative reaction in the market, with the company's shares trading lower. The company's performance is likely to continue to be closely watched by investors.
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