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Calumet's Mixed Bag Q1: From Loss To Grit, CEO Maps Strategic Spring Surge
Calumet Specialty Products Partners LP (NASDAQ:CLMT) reported a first-quarter fiscal 2024 sales decline of 3% year-over-year to $1.01 billion, beating the consensus of $900.795 million.
CLMT reported a net loss per unit of $(0.51), a decline from $0.23 YoY, beating the consensus of $(0.57).
The gross profit totaled $78.5 million (-18.7% Y/Y), and the margin contracted 151 bps to 7.8%.
The operating income for the quarter contracted to $36.3 million from $43 million a year ago, and the margin was 3.6%, down from 4.2% YoY.
Adjusted EBITDA was $21.6 million compared to $77.3 million a ...