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Calumet Specialty Products Partners, L.P. Reports Fourth Quarter and Full Year 2022 Results
Net loss attributable to partners of $70.0 million, or $(0.86) per unit for the fourth quarter 2022Fourth quarter Adjusted EBITDA of $63.5 million including
About this update from Calumet, Inc
[{"type":"text","content":"Net loss attributable to partners of $70.0 million, or $(0.86) per unit for the fourth quarter 2022Fourth quarter Adjusted EBITDA of $63.5 million including planned Montana Turnaround and December FreezeSuccessful Montana Renewables startup and commencement of Renewable Diesel sales in the fourth quarterExceptional fourth quarter Specialties margin environment projected to continue into 2023INDIANAPOLIS, March 15, 2023 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (the \"Partnership,\" \"Calumet,\" \"we,\" \"our\" or \"us\"), today reported results for the fourth quarter and year ended December 31, 2022, as follows:\nThree Months Ended December 31,\nYear Ended December 31,\n2022\n2021\n2022\n2021\n(Dollars in millions, except per unit data)\nNet loss attributable to partners\n$ (70.0)\n$ (87.1)\n$ (165.1)\n$ (260.1)\nNet loss per unit\n$ (0.86)\n$ (1.08)\n$ (2.04)\n$ (3.23)\nAdjusted EBITDA\n$ 63.5\n$ 24.6\n$ 389.6\n$ 110.3\n \nSpecialty Products and Solutions\nPerformance Brands\nMontana/Renewables\nThree Months Ended December 31,\nThree Months Ended December 31,\nThree Months Ended December 31,\n2022\n2021\n2022\n2021\n2022\n2021\n(Dollars in millions, except per barrel data)\nGross profit (loss)\n$ 95.9\n$ 19.2\n$ 11.1\n$ 11.8\n$ (72.1)\n$ 1.5\nAdjusted gross profit (loss)\n$ 111.6\n$ 34.9\n$ 11.9\n$ 12.1\n$ (24.6)\n$ 11.0\nAdjusted EBITDA\n$ 95.7\n$ 28.7\n$ 2.7\n$ 3.7\n$ (13.1)\n$ 9.2\nGross profit (loss) per barrel\n$ 17.01\n$ 3.97\n$ 92.50\n$ 107.27\n$ (66.88)\n$ 0.66\nAdjusted gross profit (loss) per barrel\n$ 19.79\n$ 7.22\n$ 99.17\n$ 110.00\n$ (22.82)\n$ 4.82\n \nSpecialty Products and Solutions\nPerformance Brands\nMontana/Renewables\nYear Ended December 31,\nYear Ended December 31,\nYear Ended December 31,\n2022\n2021\n2022\n2021\n2022\n2021\n(Dollars in millions, except per barrel data)\nGross profit (loss)\n$ 325.1\n$ 62.6\n$ 55.6\n$ 68.3\n$ (29.9)\n$ 12.0\nAdjusted gross profit\n$ 440.4\n$ 130.3\n$ 57.8\n$ 67.3\n$ 73.0\n$ 52.5\nAdjusted EBITDA\n$ 379.0\n$ 104.6\n$ 20.2\n$ 33.8\n$ 75.8\n$ 44.4\nGross profit (loss) per barrel\n$ 14.47\n$ 3.40\n$ 107.54\n$ 135.25\n$ (4.10)\n$ 1.20\nAdjusted gross profit per barrel\n$ 19.61\n$ 7.08\n$ 111.80\n$ 133.27\n$ 10.00\n$ 5.23\n\"2022 was a game-changing year for Calumet as Montana Renewables delivered many strategic milestones, and our specialties bu...