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Calumet Plunges 45% Following Dividend Suspension, Preliminary Q1 Results

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Shares of Calumet Specialty Products Partners, L.P CLMT 47.22%, a producer of specialty hydrocarbon products in North America, plunged more than 45 percent Monday morning following a business update.

Calumet said it expects to report a net loss between $83 million and $59 million in the first quarter of 2016, adjusted EBITDA between a ($5.0) million and $10.0 million. The company cited its poor outlook due to a "combination of lower benchmark...


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