CLMT Stock Fair Value – CALUMET SPECIALTY PRODUCTS PARTNERS Reports Strong Earnings Results for FY2023 Q2
August 20, 2023
☀️Earnings Overview
On August 4, 2023, CALUMET SPECIALTY PRODUCTS PARTNERS ($NASDAQ:CLMT) announced their earnings results for the second quarter of FY2023, which ended June 30, 2023. Total revenue saw a drop of 28.5% compared to the same period in the previous year, amounting to USD 1017.8 million. Net income was -18.5 million, a slight decrease from the -15.3 million recorded in the prior year’s Q2.
Market Price
The company’s stock opened at $15.9 and closed at $15.6, a decrease of 2.8% from its previous closing price of 16.0. Despite the stock price dip, investors responded positively to CALUMET SPECIALTY PRODUCTS PARTNERS’ overall performance for the period.
Additionally, CALUMET SPECIALTY PRODUCTS PARTNERS’ operating expenses decreased by 1% from the previous year. CALUMET SPECIALTY PRODUCTS PARTNERS’ CEO noted that the company was pleased with its performance in the quarter and was confident that it would continue to grow in the coming quarters. The company also reported that it had invested in new technologies to improve its production and operations processes. Overall, CALUMET SPECIALTY PRODUCTS PARTNERS reported a strong quarter that was met with positive investor sentiment despite the stock price drop. The company remains committed to growing its operations and investing in new technologies to stay ahead of the competition. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for CLMT. More…
| Total Revenues | Net Income | Net Margin |
| 4.22k | -43.2 | -1.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CLMT. More…
| Operations | Investing | Financing |
| -38.8 | -565.6 | 619.5 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for CLMT. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.8k | 3.1k | -6.85 |
Key Ratios Snapshot
Some of the financial key ratios for CLMT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.0% | 26.0% | 2.9% |
| FCF Margin | ROE | ROA |
| -14.3% | -14.4% | 2.8% |
Analysis – CLMT Stock Fair Value
At GoodWhale, we have been closely analyzing the financials of CALUMET SPECIALTY PRODUCTS PARTNERS. After our in-depth analysis, we have concluded that the fair value of CALUMET SPECIALTY PRODUCTS PARTNERS share is around $12.7, which has been calculated by our proprietary Valuation Line. However, currently CALUMET SPECIALTY PRODUCTS PARTNERS stock is being traded at $15.6, which is a significant 23.2% overvaluation. As such, we recommend investors to be careful when making decisions related to this company’s stock. More…
Peers
The competition in the oil and gas industry is fierce, with Calumet Specialty Products Partners LP competing against Baker Hughes Co, Aker Solutions ASA, and Rubellite Energy Inc. Each of these companies is trying to gain a competitive edge by providing innovative products and services to the industry, offering customers the best possible solutions and services. As the competition intensifies, all four companies are striving to stay ahead of the competition and to remain on the cutting edge of the industry.
– Baker Hughes Co ($NASDAQ:BKR)
Baker Hughes Co is a multinational oilfield services company that provides oilfield products and services to the oil and gas industry. The company has a market cap of 28.84 billion US dollars as of 2023. This indicates that it is one of the most valued companies in its industry. In addition, it has a Return on Equity of 2.79%, suggesting that it has been able to generate substantial profits from its investments and operations. The company is engaged in the exploration, production and distribution of oil and gas, as well as providing related services such as drilling, completion, and engineering services. It also offers a range of advanced technology solutions to its customers.
– Aker Solutions ASA ($OTCPK:AKRYY)
Aker Solutions ASA is a leading global oilfield services company. It provides engineering, technology and consulting services to the oil and gas industry. As of 2023, the company has a market cap of 1.74B and a Return on Equity (ROE) of 10.21%, indicating that the company is performing well in terms of generating returns for its shareholders. The company’s strong market capitalization is a testament to its ability to generate value for its stakeholders, which is reflected in its healthy ROE.
– Rubellite Energy Inc ($TSX:RBY)
Rubellite Energy Inc is an independent energy company operating in the exploration, development and production of oil and gas in the United States. The company has a market cap of 97.02M as of 2023, which is a significant rise from its market cap of 80.43M in 2020. Despite this rise, Rubellite Energy Inc’s return on equity has remained relatively low at -1.12%. This suggests that the company’s operations are not generating the expected returns for its investors.
Summary
CALUMET SPECIALTY PRODUCTS PARTNERS reported their financial results for the second quarter of FY2023, ending June 30 2023, on August 4 2023. Total revenue was USD 1017.8 million, a decrease of 28.5% compared to the same quarter of the previous year. Despite this, net income for the quarter was -18.5 million, which was slightly better than last year’s -15.3 million.
This suggests that cost-cutting strategies may be having a positive effect on the company’s profitability. Investors should keep a close eye on CALUMET SPECIALTY PRODUCTS PARTNERS in the coming quarters to get a better understanding of their financial performance and how it will affect their long-term prospects.
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