LOL, Bill. I got a kick out of your post. You're obviously a bright guy, so I highly doubt that your friend is much smarter than you.
Anyway, when I expressed some disappointment over last quarter's earnings, you correctly pointed out that RSG will require patience, but is a good long-term hold. I agree. You might get a kick out of the fact, that, a couple weeks ago, I bought some RSG for my wife's IRA at exactly $40 per share.
I'm looking forward to seeing the earnings report. In addition to the fuel issue, I want to see if they give us more financial detail about the Tervita acquisition and the plans for the Las Vegas recycling center.
My point is that ex-divy day is Jan 30, while earnings won't be released until Feb 27. Why the 4 week gap? With an ex-divy day of Jan 30, I would've expected earnings to be released on Feb 5 or 6, based upon CLMT's past practice.
I'm looking forward to earnings, too. Let's see how the cheap cost of fuel is impacting RSG's bottom line. I hope we also get some more information on the planned Nevada recycling center.
choo2choo, that's why this upcoming earnings report is so important. You are right; the specialty products are mostly oil based. The price of crude declined in the last quarter from $95 per barrel to $60 per barrel. This means that CLMT's costs should be significantly lower, and hopefully will lead to great earnings.
All good points, choo2choo. It looks like our recent rally is losing steam. We need CLMT to declare the dividend before the weekend.
There's no question that CLMT was oversold, and, IMHO, still is. CLMT released a good earnings report on November 5, 2014. In stead of going up, the stock then crashed from 29 to 19. We've recovered about 1/2 of our lost territory. We'll probably need another good earnings report to sustain the rally. I hope they declare the dividend this week. GLTA
Oh I know. Expect the worst, and hope for the best. The collapsing crude prices is the wild variable. It's hard to predict with certainty what that will do.
Good point! I re-read their Nov 5, 2014 earnings report, and CLMT remarked on several occasions that their 3Q bottom line was helped by the declining cost of oil. The spot price of oil declined in that quarter from $108 per barrel to $95. In the fourth quarter, the spot price dropped from $95 to $60!!!
It's a tough road to hoe. I realized too late that the price of crude was going to keep dropping and probably wouldn't recover soon. I had to capitulate and sell HK at a big loss. Lately, I've taken what is left of my proceeds and started to invest in companies that benefit from the drop of crude. I've recovered a little, but I got a long way to go.
The Jan 14 presentation reminded me of an important point that CLMT told us in its Nov 5, 2014 earnings report. The Shreveport and San Antonio refineries qualified for "hardship" status by the EPA. This meant that the number of RINs that CLMT had to purchase was reduced by 39 million. I'm not sure how that translates into dollars and cents, but the benefits will be included in the 4Q report.
Greatpick, CLMT hasn't announced the distribution amount or the ex-divy date yet. They'll probably announce this week, with the ex-divvy date being near the end of January.
The "big boys" don't have the same debt that HK does. That being said, given HK's hedges, I'm amazed at what has been happening. At some point, I'll need to get back in.
tedwards, I hope I'm right, too. I bought some February calls. Based upon empirical evidence, I felt confident about predicting a short term rally. But, I realize there are no guarantees. Let's keep our fingers crossed.
CLMT's stock price has been notoriously sensitive to ex-divy day. Even though the quarterly payout is currently $.685, it's not unusual for the price to move several dollars per share, both before and after ex-divy day. We're having a good day so far: Up 6.5% on no news. I hope we can hold $23 going into the weekend. If so, we'll be well positioned for a move above $25 when the divy gets declared. GLTA!
Mac, thank you for your prompt and thoughtful reply. Admittedly, I hadn't looked at the Jan 14 presentation(my bad). It is comforting that CLMT reiterated its comments. I agree with you that CLMT is a good long term play. We might even see a short term bump when they declare the distribution and release earnings.
is getting punished. I bought a bunch of FCEL a couple weeks ago at $1.60, and felt like an idiot when I sold at Tuesday's open at $1.40. With FCEL dropping another 25% since Tuesday morning, I'm glad I got out. Unfortunately, my April 2 calls are going to expire worthless. GLTA