IBJNews

Calumet see smaller loss in second quarter

Back to TopCommentsE-mailPrintBookmark and Share

Calumet Specialty Products Partners LP suffered a smaller loss in the second quarter than it did a year ago and beat the expectations of Wall Street analysts, the company announced Wednesday morning.

The Indianapolis-based owner of oil refineries lost $907,000, or 3 cents per share, in the three months ended June 30. In the same quarter last year, the company lost $26 million, or 79 cents per share.

Calumet experienced investment losses of $13.3 million in the quarter, including on hedging contracts. Excluding those results, the company would have earned more than the 30 cent per-share profit expected by three analysts surveyed by Thomson Reuters.

Sales for the quarter surged 16 percent, to $514.7 million, but fell well below analyst predictions of $533.8 million.

"We are pleased with our results for the second quarter considering our Shreveport (Louisiana) refinery was down for an extended turnaround during the entire month of April 2010," said Bill Grube, Calumet's CEO, in a prepared statement. "We continue to focus on increased run rates to meet higher demand for our specialty products and to take advantage of higher fuel products margins during the summer months."

 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. This is a terrible idea. I have an enormous amount of respect and appreciation for all the men and women who wear a uniform and serve the Indy Metro area. They don't get paid enough for all the crap they have to take. Low Pay and Benefits. Every thug and crazy taking pot shots at them. The statistics, demographics, and data that we have accumulated for umpteen years DO NOT LIE. Let's focus on making sure that the politicians that are "mandating" this crap are living where THEY are supposed to be living. Let's make sure that the politicians are not corrupt and wasting resources before we start digging into the folks on the front lines trying to do a difficult job. Since we are "hip" to "great ideas" Let's round up all the thugs in the Indy Metro area who are on parole violation as well as those in Marion County Jail that are never going to be rehabilitated and ship them down to Central America or better yet...China. Let's see how they fare in that part of the world.

  2. Once a Marion Co. commuter tax is established, I'm moving my organization out of Indianapolis. Face it, with the advancement in technology, it's getting more cost effective to have people work out of their homes. The clock is running out on the need for much of the office space in Indianapolis. Establishing a commuter tax will only advance the hands of the clock and the residents of Indianapolis will be left to clean up the mess they created on their own, with much less resources.

  3. The 2013 YE financial indicates the City of Indianapolis has over $2 B in assets and net position of $362.7 M. All of these assets have been created and funded by taxpayers. In 2013 they took in $806 M in revenues. Again, all from tax payers. Think about this, Indianapolis takes in $800 M per year and they do not have enough money? The premise that government needs more money for services is false.

  4. As I understand it, the idea is to offer police to live in high risk areas in exchange for a housing benefit/subsidy of some kind. This fact means there is a choice for the officer(s) to take the offer and receive the benefit. In terms of mandating living in a community, it is entirely reasonable for employers to mandate public safety officials live in their community. Again, the public safety official has a choice, to live in the area or to take another job.

  5. The free market will seek its own level. If Employers cannot hire a retain good employees in Marion Co they will leave and set up shop in adjacent county. Marion Co already suffers from businesses leaving I would think this would encourage more of the same.

ADVERTISEMENT