Calumet Specialty Products Partners, L.P. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 04, 2023 at 07:26 am
Share
Calumet Specialty Products Partners, L.P. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 1,017.8 million compared to USD 1,424 million a year ago. Net loss was USD 18.1 million compared to USD 15 million a year ago. Basic loss per share from continuing operations was USD 0.23 compared to USD 0.19 a year ago. Diluted loss per share from continuing operations was USD 0.23 compared to USD 0.19 a year ago.
For the six months, sales was USD 2,054.7 million compared to USD 2,521.9 million a year ago. Net income was USD 10 million compared to net loss of USD 108.6 million a year ago. Basic earnings per share from continuing operations was USD 0.13 compared to basic loss per share from continuing operations of USD 1.37 a year ago. Diluted earnings per share from continuing operations was USD 0.12 compared to diluted loss per share from continuing operations of USD 1.37 a year ago.
Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to customers across a range of consumer-facing and industrial markets. In its Specialty Products and Solutions segment, the Company manufactures and markets a variety of solvents, waxes, customized lubricating oils, white oils, petrolatums, gels, esters, and other products. Its Montana/Renewables segment consists of two facilities, renewable fuels, and specialty asphalt. At its Montana Renewables facility, it processes a variety of geographically advantaged renewable feedstocks into renewable diesel, sustainable aviation fuel (SAF), renewable hydrogen, and others. At its Montana specialty asphalt facility, it processes Canadian crude oil into conventional gasoline, diesel, and others. In its Performance Brands segment, it blends, packages and markets high performance products through its Royal Purple, Bel-Ray, and TruFuel brands.