Business
Calumet Specialty Products Partners, L.P. Reports Third Quarter 2022 Results
Net income attributable to partners of $15.7 million, or $0.19 per unit, for the third quarter of 2022Third quarter Adjusted EBITDA of $127.0 million driven
About this update from Calumet, Inc
[{"type":"text","content":"Net income attributable to partners of $15.7 million, or $0.19 per unit, for the third quarter of 2022Third quarter Adjusted EBITDA of $127.0 million driven by strong market and exceptional business executionMaterial strategic actions at Montana Renewables, including Warburg Pincus partnership and SAF additionRenewable Diesel plant commissioned; Great Falls specialty asphalt plant turnaround completeINDIANAPOLIS, Nov. 9, 2022 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (the \"Partnership,\" \"Calumet,\" \"we,\" \"our\" or \"us\"), today reported results for the third quarter ended September 30, 2022, as follows:\nThree Months Ended September 30,\nNine months ended September 30,\n2022\n2021\n2022\n2021\n(Dollars in millions, except per unit data)\nNet income (loss) attributable to partners\n$ 15.7\n$ 51.5\n$ (95.1)\n$ (173.0)\nNet income (loss) per unit\n$ 0.19\n$ 0.64\n$ (1.18)\n$ (2.15)\nAdjusted EBITDA\n$ 127.0\n$ 58.8\n$ 326.1\n$ 85.7\n \nSpecialty Products and Solutions\nPerformance Brands\nMontana/Renewables\nThree months ended September 30,\nThree months ended September 30,\nThree months ended September 30,\n2022\n2021\n2022\n2021\n2022\n2021\n(Dollars in millions, except per barrel data)\nGross profit (loss)\n$ 123.4\n$ 74.0\n$ 17.0\n$ 16.6\n$ (1.1)\n$ 42.7\nAdjusted gross profit\n$ 149.4\n$ 52.9\n$ 17.4\n$ 14.4\n$ 11.7\n$ 26.1\nAdjusted EBITDA\n$ 131.7\n$ 46.3\n$ 8.5\n$ 6.8\n$ 11.3\n$ 24.4\nGross profit (loss) per barrel\n$ 21.65\n$ 15.30\n$ 139.34\n$ 137.19\n$ (0.96)\n$ 16.03\nAdjusted gross profit per barrel\n$ 26.22\n$ 10.94\n$ 142.62\n$ 119.01\n$ 10.17\n$ 9.80\n \nSpecialty Products and Solutions\nPerformance Brands\nMontana/Renewables\nNine months ended September 30,\nNine months ended September 30,\nNine months ended September 30,\n2022\n2021\n2022\n2021\n2022\n2021\n(Dollars in millions, except per barrel data)\nGross profit\n$ 229.2\n$ 43.4\n$ 44.5\n$ 56.5\n$ 42.2\n$ 10.5\nAdjusted gross profit\n$ 328.8\n$ 95.4\n$ 45.9\n$ 55.2\n$ 97.6\n$ 41.5\nAdjusted EBITDA\n$ 283.3\n$ 75.9\n$ 17.5\n$ 30.1\n$ 88.9\n$ 35.2\nGross profit per barrel\n$ 13.63\n$ 3.20\n$ 112.09\n$ 143.04\n$ 6.78\n$ 1.35\nAdjusted gross profit per barrel\n$ 19.55\n$ 7.04\n$ 115.62\n$ 139.75\n$ 15.69\n$ 5.35\n \n\"Calumet made tremendous strategic strides and executed exceptionally well during the third quarter,\" said Tod...