How did CLMT's Q1 2024 EPS outperform forecasts?

Calumet Specialty Products Partners, L.P. (CLMT) reported a negative EPS of $0.51 for the quarter ended Q1 2024, which was a significant decline from the same quarter the previous year when the company reported EPS of $1.26. Despite the negative EPS, the company's Q1 2024 EPS outperformed forecasts, as reflected by an EPS surprise of $0.16. This indicates that the actual EPS was higher than what analysts had anticipated. The positive surprise could be attributed to factors such as cost management, operational efficiency, or market conditions that positively impacted the company's profitability. |code|Ticker|Name|Date|EPS Surprise|Diluted EPS|market_code| |---|---|---|---|---|---|---| |CLMT|CLMT.O|Calumet|2023 Q2|-0.16|-0.27|185| |CLMT|CLMT.O|Calumet|2023 Q3|1|1.24|185| |CLMT|CLMT.O|Calumet|2023 Q4|-0.2||185| |CLMT|CLMT.O|Calumet|2024 Q1|0.16|-0.51|185|