Calumet Specialty Products Partners LP (CLMT) Wednesday reported lower profit for the first quarter impacted by higher expenses.
For the quarter the firm posted net income available to limited partners of $41.7 million, down from $50.1 million last year. On a per unit basis, limited partners' interest net income was $0.66 versus $0.97 last year.
Five analysts on average polled by Thomson Reuters estimated earnings per unit of $1.04 for the quarter. Analyst estimates typically exclude one-time items.
The company clocked net sales of $1.318 billion, up from $1.169 billion last year. Analysts were looking for revenue of $1.28 billion for the period.
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