Specialty products refiner Calumet (NASDAQ: CLMT) will be reporting results tomorrow morning. Here’s what to look for.
Calumet beat analysts’ revenue expectations last quarter, reporting revenues of $1.03 billion, up 3.6% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but a significant miss of analysts’ EBITDA estimates.
Is Calumet a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Calumet’s revenue to grow 6.6% year on year, a reversal from the 9.4% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Calumet rarely misses Wall Street’s revenue estimates.
Looking at Calumet’s peers in the infrastructure segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Expand Energy’s revenues decreased 10.6% year on year, beating analysts’ expectations by 24.8%, and Kinder Morgan reported revenues up 10.8%, topping estimates by 5.8%. Expand Energy traded up 4.5% following the results while Kinder Morgan’s stock price was unchanged.
Read our full analysis of Expand Energy’s results here and Kinder Morgan’s results here.
Investors in the infrastructure segment have had steady hands going into earnings, with share prices flat over the last month. Calumet is up 4.2% during the same time and is heading into earnings with an average analyst price target of $39.60 (compared to the current share price of $40.42).
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