Calumet Losses Deepen in Earnings Report Revision

The company's footprint extends throughout the Midwest

Indianapolis-based Calumet Specialty Products Partners LP (Nasdaq: CLMT) has released revised earnings showing a greater fourth quarter and full-year loss than previously reported. The hydrocarbon processor says it lost $103.8 million in 2017, $83.6 million of that in the fourth quarter. The loss in 2017 was still an improvement from its 2016 performance where the company reported a $328.6 million loss. The revised 2017 fourth quarter loss is greater than the $79.6 million loss reported during the same quarter a year earlier.

Calumet Specialty Products says without the effects of the divestitures of a Wisconsin refinery and a drilling fluids facility, major property, plant and equipment revaluation and bad debt readjustments, the partnership’s fourth quarter loss would have nearly been cut in half.

You can read more about the company’s revisions by clicking here.