Calumet Specialty Products Partners LP (Calumet Specialty Products Partners LP) Operating Income : $271 Mil (TTM As of Dec. 2023)

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What is Calumet Specialty Products Partners LP Operating Income?

Calumet Specialty Products Partners LP's Operating Income for the three months ended in Dec. 2023 was $-9 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $271 Mil.

Warning Sign:

Calumet Specialty Products Partners LP had lost money in 50% of the time over the past 12quarters.

Operating Margin % is calculated as Operating Income divided by its Revenue. Calumet Specialty Products Partners LP's Operating Income for the three months ended in Dec. 2023 was $-9 Mil. Calumet Specialty Products Partners LP's Revenue for the three months ended in Dec. 2023 was $977 Mil. Therefore, Calumet Specialty Products Partners LP's Operating Margin % for the quarter that ended in Dec. 2023 was -0.92%.

Calumet Specialty Products Partners LP's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Calumet Specialty Products Partners LP's annualized ROC % for the quarter that ended in Dec. 2023 was -1.34%. Calumet Specialty Products Partners LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 2.95%.

Calumet Specialty Products Partners LP Operating Income Historical Data

The historical data trend for Calumet Specialty Products Partners LP's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Calumet Specialty Products Partners LP Operating Income Chart

Calumet Specialty Products Partners LP Annual Data

Trend

Dec14

Dec15

Dec16

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Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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122.00

-65.10

-81.50

132.60

270.70

Calumet Specialty Products Partners LP Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Operating Income	Get a 7-Day Free Trial															-27.70	43.20	23.40	213.10	-9.00

Calumet Specialty Products Partners LP Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $271 Mil.

Calumet Specialty Products Partners LP (NAS:CLMT) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Calumet Specialty Products Partners LP's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	-36 * ( 1 - -0.43% )	/	( (2795.4	+	2598)	/ 2 )
=	-36.1548	/	2696.7
=	-1.34 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	2804.8	-	466.2	-	( 13.7	-	max(0, 1320.2	-	863.4	+	13.7	))
=	2795.4

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	2751.3	-	471.3	-	( 7.9	-	max(0, 1112.7	-	794.7	+	7.9	))
=	2598

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Calumet Specialty Products Partners LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	46.4	/	( ( (1526.9 + max(-328.7, 0))	+	(1620.7 + max(-228.4, 0)) )	/	2 )
=	46.4	/	( ( 1526.9	+	1620.7 )	/	2 )
=	46.4	/	1573.8
=	2.95 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(285	+	447.7	+	54.2)	-	(466.2	+	0	+	649.4)
=	-328.7

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(252.4	+	439.4	+	61.2)	-	(471.3	+	0	+	510.1)
=	-228.4

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Calumet Specialty Products Partners LP's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	-9	/	976.9
	=	-0.92 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Calumet Specialty Products Partners LP Operating Income Related Terms

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Calumet Specialty Products Partners LP (Calumet Specialty Products Partners LP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Calumet Specialty Products Partners LP (NAS:CLMT) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

2780 Waterfront Parkway East Drive, Suite 200, Indianapolis, IN, USA, 46214

Website

https://www.calumetspecialty.com

Calumet Specialty Products Partners LP is an independent producer of specialty hydrocarbon products in North America. The company operates through three segments namely Specialty Products and Solutions segment manufacture and market solvents, waxes, customized lubricating oils, white oils, petrolatum's, gels, esters, and other products. In Performance Brands segment, the company blend, package and market high performance products through its Royal Purple, Bel-Ray, and TruFuel brands. The Montana/Renewables segment is comprised of two businesses - renewable diesel and specialty asphalt. The Corporate segment primarily consists of general and administrative expenses not allocated to the Specialty Products and Solutions, Performance Brands or Montana/Renewables segments.

Executives

Stephen P Mawer	director	2780 WATERFRONT PKWY E. DRIVE, SUITE 200, INDIANAPOLIS IN 46214
John G. Boss	director	260 HUDSON RIVER ROAD, WATERFORD NY 12188
Ryan Willman	officer: Chief Accounting Officer	2780 WATERFRONT PKWY E. DR., STE. 200, INDIANAPOLIS IN 46214
Scott Obermeier	officer: EVP - Commercial	2780 WATERFRONT PARKWAY, E. DRIVE, INDIANAPOLIS IN 46214
Daniel J Sajkowski	director	5400 WEST 86TH STREET, INDIANAPOLIS IN 46268
James S Carter	director	2780 WATERFRONT PKWY. E. DRIVE, SUITE 200, INDIANPOLIS IN 46214
Louis Todd Borgmann	officer: SVP and Interim CFO	2780 WATERFRONT PARKWAY, E. DRIVE, SUITE 200, INDIANAPOLIS IN 46214
Karen A. Twitchell	director	9 COURTLANDT PLACE, HOUSTON TX 77006
Marc Lawn	officer: EVP - Performance Brands	2780 WATERFRONT PKWY E. DRIVE, SUITE 200, INDIANAPOLIS IN 46214
Paul C Raymond	director	HERCULES PLAZA, 1313 N MARKET STREET, WILMINGTON DE 19894
Vincent Donargo	officer: Chief Accounting Officer	ONE CELADON DRIVE, 9503 E. 33RD STREET, INDIANAPOLIS IN 46235
H. Keith Jennings	officer: Chief Financial Officer	2000 ST. JAMES PLACE, HOUSTON TX 77056
A Anderson William	officer: VP - Sales and Marketing	2780 WATERFRONT PARKWAY E. DRIVE,, SUITE 200, INDIANAPOLIS IN 46214
Daniel L Sheets	director	29400 LAKELAND BOULEVARD, WICKLIFFE OH 44092
David West Griffin	officer: EVP and CFO	2780 WATERFRONT PARKWAY E. DRIVE, SUITE 200, INDIANAPOLIS IN 46214