Business
Calumet Specialty Products Partners, L.P. Reports Third Quarter 2021 Results
-- Net income of $51.5 million, or $0.64 per unit for the third quarter 2021 -- Specialty Products and Solutions - record specialties margins, improving
About this update from Calumet, Inc
[{"type":"text","content":"-- Net income of $51.5 million, or $0.64 per unit for the third quarter 2021\n -- Specialty Products and Solutions - record specialties margins, improving transportation fuels market\n -- Performance Brands - strong underlying demand affected by supply chain disruptions\n -- Montana/Renewables - steady Rockies margin environment; Renewable Diesel project continues to progress well on all fronts\n\n\nINDIANAPOLIS, Nov. 5, 2021 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (the \"Partnership,\" \"Calumet,\" \"we,\" \"our\" or \"us\"), today reported results for the third quarter ended September 30, 2021, as follows:\nThree Months Ended September 30,\nNine Months Ended September 30,\n2021\n2020\n2021\n2020\n(Dollars in millions, except per unit data)\nNet income (loss)\n$\n51.5\n$\n(56.1)\n$\n(173.0)\n$\n(66.9)\nNet income (loss) per unit\n$\n0.64\n$\n(0.70)\n$\n(2.15)\n$\n(0.83)\nAdjusted EBITDA\n$\n58.8\n$\n34.7\n$\n85.7\n$\n183.5\nSpecialty Products and Solutions\nPerformance Brands\nMontana/Renewables\nThree Months Ended September 30,\nThree Months Ended September 30,\nThree Months Ended September 30,\n2021\n2020\n2021\n2020\n2021\n2020\n(Dollars in millions, except per barrel data)\nGross profit (loss)\n$\n74.0\n$\n0.5\n$\n16.6\n$\n22.0\n$\n42.7\n$\n(6.0)\nAdjusted gross profit\n$\n52.9\n$\n20.8\n$\n14.4\n$\n24.0\n$\n26.1\n$\n5.7\nAdjusted EBITDA\n$\n46.3\n$\n23.2\n$\n6.8\n$\n18.9\n$\n24.4\n$\n9.7\nGross profit (loss) per barrel\n$\n15.30\n$\n0.10\n$\n137.19\n$\n169.23\n$\n16.03\n$\n(2.18)\nAdjusted gross profit per barrel\n$\n10.94\n$\n4.17\n$\n119.01\n$\n184.62\n$\n9.80\n$\n2.07\nSpecialty Products and Solutions\nPerformance Brands\nMontana/Renewables\nNine Months Ended September 30,\nNine Months Ended September 30,\nNine Months Ended September 30,\n2021\n2020\n2021\n2020\n2021\n2020\n(Dollars in millions, except per barrel data)\nGross profit\n$\n43.4\n$\n26.8\n$\n56.5\n$\n59.7\n$\n10.5\n$\n18.0\nAdjusted gross profit\n$\n95.4\n$\n122.4\n$\n55.2\n$\n63.1\n$\n41.5\n$\n58.3\nAdjusted EBITDA\n$\n75.9\n$\n125.6\n$\n30.1\n$\n47.1\n$\n35.2\n$\n64.9\nGross profit per barrel\n$\n3.20\n$\n1.68\n$\n143.04\n$\n157.11\n$\n1.35\n$\n2.29\nAdjusted gross profit per barrel\n$\n7.04\n$\n7.65\n$\n139.75\n$\n166.05\n$\n5.35\n$\n7.42\n\"Our team made excellent progress on many fronts in the third quarter,\" said CEO ...