Business
Calumet Specialty Products Partners, L.P. Reports Second Quarter 2023 Results
Net loss attributable to partners of $18.5 million, or Limited partners' interest of $0.23 basic net loss per unit, for the second quarter of 2023Second
About this update from Calumet, Inc
[{"type":"text","content":"Net loss attributable to partners of $18.5 million, or Limited partners' interest of $0.23 basic net loss per unit, for the second quarter of 2023Second quarter Adjusted EBITDA of $67.7 driven by supportive market and strong commercial execution, partially offset by weather-related production constraintsMontana Renewables achieves full throughput rates, demonstrated advantaged feedstock Pre-Treater technology, and became the largest Sustainable Aviation Fuel producer in North AmericaINDIANAPOLIS, Aug. 4, 2023 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (the \"Partnership,\" \"Calumet,\" \"we,\" \"our\" or \"us\"), today reported results for the second quarter ended June 30, 2023, as follows:\nThree Months Ended June 30, \nSix Months Ended June 30, \n2023\n2022\n2023\n2022\n(Dollars in millions, except per unit data)\n(Dollars in millions, except per unit data)\nNet income (loss) attributable to partners\n$\n(18.5)\n$\n(15.3)\n$\n10.2\n$\n(110.8)\nLimited partners' interest basic net income (loss)per unit\n$\n(0.23)\n$\n(0.19)\n$\n0.13\n$\n(1.37)\nAdjusted EBITDA\n$\n67.7\n$\n175.8\n$\n145.4\n$\n199.1\n \nSpecialty Products and Solutions\nPerformance Brands\nMontana/Renewables\nThree months ended June 30, \nThree months ended June 30, \nThree months ended June 30, \n2023\n2022\n2023\n2022\n2023\n2022\n(Dollars in millions, except per barrel data)\nGross profit\n$\n45.3\n$\n88.1\n$\n21.4\n$\n14.2\n$\n4.7\n$\n41.6\nAdjusted gross profit\n$\n68.3\n$\n144.0\n$\n22.6\n$\n14.6\n$\n19.2\n$\n74.0\nAdjusted EBITDA\n$\n61.0\n$\n123.5\n$\n12.2\n$\n3.7\n$\n12.6\n$\n68.6\nGross profit per barrel\n$\n8.55\n$\n15.72\n$\n153.96\n$\n100.00\n$\n2.64\n$\n16.12\nAdjusted gross profit per barrel\n$\n12.90\n$\n25.69\n$\n162.59\n$\n102.82\n$\n10.79\n$\n28.67\n \nSpecialty Products and Solutions\nPerformance Brands\nMontana/Renewables\nSix months ended June 30, \nSix months ended June 30, \nSix months ended June 30, \n2023\n2022\n2023\n2022\n2023\n2022\n(Dollars in millions, except per barrel data)\nGross profit (loss)\n$\n155.6\n$\n105.8\n$\n45.0\n$\n27.5\n$\n(32.5)\n$\n43.3\nAdjusted gross profit\n$\n167.5\n$\n179.4\n$\n43.4\n$\n28.5\n$\n30.5\n$\n85.9\nAdjusted EBITDA\n$\n137.4\n$\n151.6\n$\n28.6\n$\n9.0\n$\n17.4\n$\n77.6\nGross profit (loss) per barrel\n$\n14.85\n$\n9.51\n$\n169.17\n$\n100.00\n$\n(9.59)\n$\n8.54\nAdjusted...