Why Calumet Stock Flopped on Friday
Calumet (CLMT) shares fell about 6% on Friday after its Q2 earnings showed a surprise net loss. Revenue rose to just under $1.45B, up about 41% YoY, but adjusted net loss was $95.9M, or $1.09/share, versus a year-ago deficit of $147.9M. Analysts expected profit of $0.17/share. Long-term debt exceeded $2.2B.






