Calumet Specialty Products Partners, L.P. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 09, 2022 at 07:00 am EST
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Calumet Specialty Products Partners, L.P. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 1,165 million compared to USD 874.9 million a year ago. Net income was USD 15.2 million compared to USD 50.5 million a year ago. Basic earnings per share from continuing operations was USD 0.19 compared to USD 0.64 a year ago. Diluted earnings per share from continuing operations was USD 0.19 compared to USD 0.64 a year ago.
For the nine months, sales was USD 3,686.9 million compared to USD 2,282.2 million a year ago. Net loss was USD 93.2 million compared to USD 169.5 million a year ago. Basic loss per share from continuing operations was USD 1.18 compared to USD 2.15 a year ago. Diluted loss per share from continuing operations was USD 1.18 compared to USD 2.15 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.