Refinery issues hurt Calumet

Investor's Business Daily

The petroleum products refiner said Q1 earnings plunged 32% to 66 cents, missing estimates by 38 cents. Sales rose 13% to $1.32 bil, topping forecasts. CEO Bill Grube said in a press statement that results were adversely impacted by reliability issues at the Shreveport, La., refinery and a 40-day plantwide maintenance turnaround at its Superior refinery that's scheduled to be completed in late May. Calumet Specialty Products Partners (CLMT) shares fell 0.1% to 36.88.

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