Calumet Specialty Products Partners (CLMT) Tops Q1 EPS Views; Guides Expected FY16 CapEx

Calumet Specialty Products Partners (NASDAQ: CLMT) reported Q1 EPS of $0.86, $0.76 better than the analyst estimate of $0.10.

Financial Guidance

• Introducing 2015 Capital Spending Forecast. For the full year 2015, the Partnership anticipates total capital expenditures of $285.0 million to $335.0 million. Approximately $210.0 million to $245.0 million of the total 2015 capital spending plan is allocated toward organic growth projects. The 2015 capital spending plan also includes an estimated $60.0 million to $70.0 million in replacement and environmental capital expenditures and approximately $15.0 million to $20.0 million allocated to turnaround costs.
• Estimated 2015 RFS Compliance Impact. In conjunction with the Partnership's ongoing compliance with the U.S. Renewable Fuels Standard ("RFS"), Calumet expects to purchase blending credits referred to as RINs. The Partnership records its outstanding RINs obligation as a balance sheet liability. This liability is marked-to-market on a quarterly basis to reflect the market price of RINs on the last day of each quarter. The Partnership expects its gross estimated annual RINs obligation, which includes RINs that are required to be secured through either blending or through the purchase of RINs in the open market, will be in the range of 90 million to 100 million RINs for the full year 2015, excluding the potential for any subsequent hardship waivers that may or may not be granted by the U.S. Environmental Protection Agency to any of the Partnership's fuel refineries at a later time.

For earnings history and earnings-related data on Calumet Specialty Products Partners (CLMT) click here.

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