Calumet Specialty Products Partners (CLMT) Misses Q4 EPS by 31c

Calumet Specialty Products Partners (NASDAQ: CLMT) reported Q4 EPS of ($1.01), $0.31 worse than the analyst estimate of ($0.70).

"2016 was a year of transition, stabilization and foundation building for our Partnership,\" stated Tim Go, Chief Executive Officer of Calumet. "We refocused our long-term vision on our core specialty business, took decisive action to enhance our liquidity profile, and began the process of optimizing our asset portfolio through the sale of Dakota Prairie Refining, LLC and by shedding some third party terminal agreements. Most of our leadership team was upgraded through the addition of significant talent with deep and diverse industry experience. Lastly, we implemented and executed an aggressive three-year operations excellence strategy and surpassed our 2016 self-help expectations, generating an estimated $89 million of our annual Adjusted EBITDA, which helped us offset a challenging fuels refining environment."

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

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