NasdaqGS:CLMTOil and Gas
Calumet (CLMT) Stock Falls As Cash Flow Strength Meets Equity Risk
Calumet stock dropped 5.7% to close at US$39.48 after its latest earnings, even though the quarter featured one clear headline. The company produced US$175m of adjusted earnings before interest, tax, depreciation and amortization, and generated more than US$90m of cash from operations, while continuing to pay down debt.
In the short term, traders are reacting to a red price screen. Over a multi year horizon, the real story is the balance sheet repair. Management is retiring higher cost...