CSIMarket
 
Calumet Specialty Products Partners l p   (CLMT)
Other Ticker:  
 
 
Price: $14.9800 $-0.17 -1.122%
Day's High: $15.188 Week Perf: -0.13 %
Day's Low: $ 14.93 30 Day Perf: 7.54 %
Volume (M): 48 52 Wk High: $ 19.91
Volume (M$): $ 712 52 Wk Avg: $16.41
Open: $15.05 52 Wk Low: $11.91



 Market Capitalization (Millions $) 1,203
 Shares Outstanding (Millions) 80
 Employees 2,000
 Revenues (TTM) (Millions $) 4,203
 Net Income (TTM) (Millions $) 363
 Cash Flow (TTM) (Millions $) -30
 Capital Exp. (TTM) (Millions $) 400

Calumet Specialty Products Partners L P

We are a leading independent producer of high-quality, specialty hydrocarbon products in North America. We are headquartered in Indianapolis, Indiana, and own specialty and fuel products facilities primarily located in northwest Louisiana, northwest Wisconsin, northern Montana, western Pennsylvania, Texas, New Jersey and eastern Missouri. We own and lease oilfield services locations in Texas, Oklahoma, Louisiana, Arkansas, Colorado, Utah, Wyoming, Montana, New Mexico, New York, North Dakota, Pennsylvania and Ohio. We own and lease additional facilities, primarily related to production and distribution of specialty, fuel and oilfield services products, throughout the United States (“U.S.”). Our business is organized into three segments: specialty products, fuel products and oilfield services. In our specialty products segment, we process crude oil and other feedstocks into a wide variety of customized lubricating oils, white mineral oils, solvents, petrolatums and waxes. Our specialty products are sold to domestic and international customers who purchase them primarily as raw material components for basic industrial, consumer and automotive goods. We also blend and market specialty products through our Royal Purple, Bel-Ray, TruFuel and Quantum brands. In our fuel products segment, we process crude oil into a variety of fuel and fuel-related products, including gasoline, diesel, jet fuel, asphalt and heavy fuel oils, and from time to time resell purchased crude oil to third party customers.

Our management team is dedicated to improving our operations by executing the following strategies:

Maintain Sufficient Levels of Liquidity. We are actively focused on maintaining sufficient liquidity to fund our operations and business strategies. In view of current volatility in market conditions and as part of a broader effort to maintain an adequate level of liquidity, the board of directors of our general partner unanimously voted to suspend the then-current quarterly cash distribution of $0.685 per unit, or $2.74 per unit on an annualized basis, effective beginning the quarter ended March 31, 2016.

Concentrate on Stable Cash Flows. We intend to continue to focus on operating assets and businesses that generate stable cash flows. Approximately 34.8% of our sales and 82.8% of our gross profit in 2016 were generated by the sale of specialty products, a segment of our business which is characterized by stable customer relationships due to our customers’ requirements for the specialized products we provide. In addition, we manage our exposure to crude oil price fluctuations in this segment by passing on incremental feedstock costs to our specialty products customers. In our fuel products segment, which accounted for 61.7% of our sales and 11.8% of our gross profit in 2016, we seek to mitigate our exposure to fuel products margin volatility by generally maintaining a fuel products hedging program for crude oil basis differentials and fuel product crack spreads. In the future, we intend to shift more of our focus to our specialty products business to further reduce our exposure to commodity price volatility.

Develop and Expand Our Customer Relationships. Due to the specialized nature of, and the long lead-time associated with, the development and production of many of our specialty products, our customers are incentivized to continue their relationships with us. We believe that our larger competitors do not work with customers as we do from product design to delivery for smaller volume specialty products like ours. We intend to continue to assist our existing customers in their efforts to expand their product offerings, as well as marketing specialty product formulations and services to new customers. By striving to maintain our long-term relationships with our broad base of existing customers and by adding new customers, we seek to limit our dependence on any one portion of our customer base.

Enhance Profitability of Our Existing Assets. We have increased our focus on identifying opportunities to improve our existing asset base and to increase our throughput, profitability and cash flows. Historical examples include projects designed to maximize the profitability of our acquired assets, such as: (1) the enhancements at our San Antonio refinery completed in December 2013, which allowed us to blend finished gasoline and increased the refinery’s production capacity from 14,500 bpd to 18,000 bpd, (2) the more than doubling of esters production capacity at our Missouri facility completed in December 2015, and (3) the increase of production capacity at our Great Falls refinery from 10,000 bpd to 25,000 bpd, which was completed in February 2016. We intend to further increase the profitability of our existing asset base through various low capital requirement measures which may include changing the product mix of our processing units, debottlenecking units as necessary to increase throughput, restarting idle assets and reducing costs by improving operations. We also are increasing our focus on optimizing current operations through improving reliability, product quality enhancements, product yield improvements and energy savings initiatives.


Disciplined Approach to Strategic and Complementary Acquisitions. Our senior management team is focused on acquiring assets and product lines where we can enhance operations and improve profitability. In the future, we intend to continue pursuing prudent, accretive acquisitions that will benefit our company over the long term. We intend to reduce our leverage over time and maintain sufficient liquidity to execute our acquisition strategy. We also may pursue strategic acquisitions of assets or agreements with third parties that offer the opportunity for operational efficiencies, the potential for increased utilization and expansion of facilities, or the expansion of product offerings principally in our specialty products segment. In addition, we may pursue selected acquisitions. Since 2011 we have completed the following acquisitions to enhance and diversify our existing specialty products, fuel products and oilfield services segments:

Superior, Wisconsin, refinery (“Superior”) — a refinery that produces and sells gasoline, diesel, asphalt and heavy fuel oils acquired in September 2011 (“Superior Acquisition”).

Calumet Packaging, LLC (“Calumet Packaging”) — formerly known as TruSouth Oil, LLC, a specialty petroleum packaging and distribution company acquired in January 2012.

Louisiana, Missouri, (“Missouri”) facility — an aviation and refrigerant synthetic lubricants business acquired in January 2012.

Royal Purple, Inc. (“Royal Purple”) — a leading independent formulator and marketer of specialty synthetic lubricants and greases acquired in July 2012.

Montana Refining Company, Inc. (“Great Falls”) — a refinery that produces and sells gasoline, diesel, jet fuel and asphalt products acquired in October 2012.

San Antonio, Texas, refinery (“San Antonio”) — a refinery that produces and sells diesel, gasoline, jet fuel, other fuel products and solvents acquired in January 2013.

Crude oil logistics assets — crude oil loading facilities and related assets in North Dakota and Montana acquired in August 2013.

Bel-Ray Company, LLC (“Bel-Ray”) — a manufacturer and global distributor of high-performance synthetic lubricants and greases acquired in December 2013.

United Petroleum, LLC assets (“United Petroleum”) — a marketer and distributor of high performance lubricants acquired in February 2014.

ADF Holdings, Inc., the parent company of Anchor Drilling Fluids USA, Inc. (subsequently converted to Anchor Drilling Fluids, LLC (“Anchor Drilling Fluids”) — an independent provider and marketer of drilling fluids and completion fluids to the oil and gas exploration industry acquired in March 2014.

Oilfield services assets — a full-service drilling fluids and solids control company with primary operations in the Eagle Ford, Marcellus and Utica shale formations acquired from Specialty Oilfield Services, Ltd. in August 2014.

The San Antonio refinery, located on a 32 acre site in San Antonio, Texas, has aggregate crude oil throughput capacity of 21,000 bpd and processes light crude oil from south Texas, including the Eagle Ford shale formation, into a variety of transportation fuels, petrochemical and refinery feedstocks, and aliphatic solvents. The San Antonio refinery consists of six major processing units including crude oil fractionation, naphtha hydrotreating, catalytic reforming, distillate hydrotreating, aromatic saturation and specialty fractionation. The refinery has approximately 200,000 barrels of storage capacity in 65 tanks and related loading and unloading facilities and utilities.
Currently, the San Antonio refinery produces diesel, jet fuel, gasoline, other fuel products and a variety of aliphatic solvents. The San Antonio refinery is compliant with federal regulations for ultra-low sulfur diesel. The San Antonio refinery ships products by railcar and truck service. Product sales are primarily made through spot agreements and short-term contracts. The San Antonio refinery purchases crude oil and intermediate products from various suppliers and receives crude oil by pipeline originating from its crude oil terminal in Elmendorf, Texas (“Elmendorf”), providing reliable access to high quality crude oil from Texas, primarily the Eagle Ford shale formation. The San Antonio refinery has a long term agreement with TexStar Midstream Logistics, L.P. (“TexStar”) under which TexStar operates the Karnes North Pipeline System (“KNPS”), which transports crude oil from Karnes City, Texas, to Elmendorf. Currently, the San Antonio refinery receives at least 12,000 bpd of crude oil at the refinery through the KNPS-Elmendorf terminal supply route. Elmendorf has aggregate storage capacity of approximately 200,000 barrels.


Since acquiring the San Antonio refinery, we have expanded the refinery’s capabilities by adding 6,500 bpd of crude oil throughput capacity and adding additional processing and blending facilities which allow the San Antonio refinery to blend up to 6,000 bpd of finished gasoline. Additionally, we completed a project in December 2015 that provides us the capability to take a portion of the San Antonio refinery’s diesel and jet fuel production and convert it into up to 3,000 bpd of higher margin solvent products that meet customer requirements for low aromatic content. We are also beginning to integrate the San Antonio refinery into our other specialty products operations by producing intermediate feedstocks which our Shreveport refinery utilizes in the production of lubricating oils.

The Cotton Valley refinery, located on a 77 acre site in Cotton Valley, Louisiana (“Cotton Valley”), currently has aggregate crude oil throughput capacity of 13,500 bpd, hydrotreating capacity of 6,200 bpd and processes crude oil into specialty solvents and residual fuel oil. The residual fuel oil is an important feedstock for the production of specialty products at our Shreveport refinery. We believe the Cotton Valley refinery produces the most complete, single-facility line of paraffinic solvents in the U.S.
The Cotton Valley refinery consists of three major processing units that include a crude unit, a hydrotreater and a fractionation train, approximately 625,000 barrels of storage capacity in 74 storage tanks and related loading and unloading facilities and utilities. Since our acquisition of the Cotton Valley refinery in 1995, we have expanded the refinery’s capabilities by installing a hydrotreater that removes aromatics, increased the crude unit processing capability to 13,500 bpd and reconfigured the refinery’s fractionation train to improve product quality, enhance flexibility and lower utility costs.

The Princeton refinery, located on a 208 acre site in Princeton, Louisiana (“Princeton”), currently has aggregate crude oil throughput capacity of 10,000 bpd and processes naphthenic crude oil into lubricating oils and asphalt. In addition, feedstock is made for the Shreveport refinery for further processing into ultra-low sulfur diesel. The asphalt produced at Princeton may be further processed or blended for coating and roofing product applications at the Princeton refinery or transported to the Shreveport refinery for further processing into bright stock.

Missouri Facility
The Missouri facility, located on a 22 acre site in Louisiana, Missouri, develops and produces polyolester synthetic lubricants for use in refrigeration compressors, commercial aviation and polyolester base stocks. In December 2015, we completed a project to double the production capacity of the facility from 35 million pounds to 75 million pounds per year. The facility has approximately 35,000 barrels of storage capacity in 64 tanks and related loading and unloading facilities and utilities. The facility receives its fatty acids and alcohol feedstocks and additives by truck and railcar under supply agreements or spot agreements with various suppliers.
The Missouri facility utilizes the latest batch esterification processes designed to ensure blending accuracy while maintaining production flexibility to meet customer needs.

Calumet Packaging
The Calumet Packaging facility, located on a 10 acre site in Shreveport, Louisiana, develops, blends and packages high performance synthetic lubricants, fuels and solvent products for use in industrial, commercial and automotive applications. The Calumet Packaging facility’s processing capability includes state-of-the-art blending and packaging equipment. The facility has approximately 75,000 barrels of storage capacity and related loading and unloading facilities. The facility receives its base oil feedstocks and additives by truck under supply agreements or spot agreements with various suppliers.

Royal Purple
The Royal Purple facility, located on a 28 acre site in Porter, Texas, develops, blends and packages high performance synthetic lubricants and fluid additive products for use in industrial, commercial and automotive applications. The Royal Purple facility’s processing capability includes ten in-house packaging and production lines. Outsourced packaging services for specific products are also used. The facility has approximately 30,500 barrels of storage capacity in 91 tanks and related loading and unloading facilities. The facility receives its base oil feedstocks and additives by truck under supply agreements or spot agreements with various suppliers.

Bel-Ray
The Bel-Ray facility, located on a 32 acre site in Wall Township, New Jersey, blends and packages high performance synthetic lubricants and greases for use primarily in aerospace, automotive, energy, food, marine, military, mining, motorcycle, powersports, steel and textiles applications. The Bel-Ray facility’s processing capability includes 24 blending tanks and packaging production lines. In addition, the Bel-Ray facility has approximately 13,000 barrels of storage capacity in 63 tanks and related loading and unloading facilities and utilities. The Bel-Ray facility receives its base oil feedstocks and additives by truck under supply agreements or spot agreements with various suppliers.

The Bel-Ray facility is designed with batch processing technology and is also designed to maximize blending flexibility to meet customer needs. The packaging operations utilize both in-house packaging equipment and outsourced packaging services for specific products.



   Company Address: 2780 Waterfront Parkway East Drive Indianapolis 46214 IN
   Company Phone Number: 328-5660   Stock Exchange / Ticker: NASDAQ CLMT
   


Customers Net Income grew by CLMT's Customers Net Profit Margin grew to

8.22 %

13.55 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
COP   -0.67%    
CVX        1.53% 
IMO        1.25% 
SUN        7.18% 
VLO   -3.97%    
XOM        0.17% 
• View Complete Report
   



Stock Offering

Calumet Specialty Products Partners Successfully Completes Notes Offering, Repays Debt, and Enhances Financial Position

Published Tue, Mar 12 2024 8:58 PM UTC

Calumet Completes Notes Offering, Retires Senior Secured First Lien Notes due 2024 and Calls $50 million of Senior Notes due 2025
INDIANAPOLIS, March 12, 2024 - Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) and its wholly-owned subsidiary Calumet Finance Corp. announced the successful completion of a notes offering, in addition to retiring senior secured firs...

Calumet Specialty Products Partners L P

Breaking down first quarter of 2023 effort, the Oil & Gas Integrated Operations company's reported marginal decline in their top-line

Calumet Specialty Products Partners L.P. (CLMT) is a publicly traded company that operates in the oil and gas industry. The company was founded in 1916 and is headquartered in Indianapolis, Indiana. CLMT produces and sells specialty hydrocarbon products, such as lubricating oils, solvents, and waxes, used in various industries like metals, petrochemicals, and automotive. In this article, we will take a closer look at CLMT's recent financial results to determine how the company is performing.
Financial Results:
For the most recent fiscal period, ending on June 30, 2021, CLMT reached break-even of $0.00 per share, which is a slight improvement from the previous year's results. In the comparable financial reporting period a year prior, the company also posted a break-even result. However, in the prior financial period, the company had a loss of $0.86 per share. This shows that CLMT has improved its financial position since the previous year.






 

Calumet Specialty Products Partners L P's Segments
 
 
• View Complete Report




Help

About us

Advertise

CSIMarket Company, Sector, Industry, Market Analysis, Stock Quotes, Earnings, Economy, News and Research. 
   Copyright © 2024 CSIMarket, Inc. All rights reserved. This site uses cookies to make your browsing experince better. By using this site, you agree to the Terms of Service and Privacy Policy - UPDATED (Read about our Privacy Policy)

Intraday data delayed per exchange requirements. All quotes are in local exchange time. Intraday data delayed 15 minutes for Nasdaq, and other exchanges. Fundamental and financial data for Stocks, Sector, Industry, and Economic Indicators provided by CSIMarket.com