Here's How Calumet Specialty Products Partners LP Crushed It in 2017
Specialty hydrocarbon and fuels manufacturer Calumet Specialty Products Partners LP (NASDAQ: CLMT) had a pretty special 2017. That's especially true considering the circumstances surrounding operations entering the year. The stock was absolutely crushed in 2016 as the dividend was suspended, losses piled up, and cash flow collapsed 99%. Failure seemed inevitable, and Wall Street didn't waste time writing off the company.
CEO Tim Go must not have checked his mail.
Against the odds, Go led a management team that executed a strategic turnaround and returned the company to profitability virtually overnight. The company course-corrected from a second-quarter 2016 net loss of $147.9 million to a net gain of $9.6 million in the second quarter of 2017. While the compnay has hit a hiccup recently -- a new reporting system has delayed its theird-quarter earnings release -- it hasn't deterred Calumet's stock from doubling so far in 2017.
Source: Fool.com
Calumet Speciality Products Aktie
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