Calumet Specialty Prods Q1 2024 GAAP EPS $(0.51) Beats $(0.57) Estimate, Sales $1.005B Beat $900.795M Estimate
Portfolio Pulse from Benzinga Newsdesk
Calumet Specialty Products Partners, L.P. (CLMT) reported Q1 2024 earnings with a GAAP EPS of $(0.51), surpassing the $(0.57) estimate, and sales of $1.005B, exceeding the $900.795M forecast. Despite beating estimates, this reflects a significant decrease in earnings and a slight decrease in sales compared to the same period last year.
May 10, 2024 | 11:15 am
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Calumet Specialty Products Partners, L.P. (CLMT) exceeded Q1 2024 earnings and sales estimates but reported a significant decrease in earnings and a slight decrease in sales year-over-year.
While CLMT beat analyst expectations for both earnings per share and sales, the significant decrease in earnings compared to the previous year could concern investors. However, the fact that they exceeded estimates might offset some negative sentiment, leading to a neutral short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100