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Calumet see smaller loss in second quarter

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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."

 

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  1. John, unfortunately CTRWD wants to put the tank(s) right next to a nature preserve and at the southern entrance to Carmel off of Keystone. Not exactly the kind of message you want to send to residents and visitors (come see our tanks as you enter our city and we build stuff in nature preserves...

  2. 85 feet for an ambitious project? I could shoot ej*culate farther than that.

  3. I tried, can't take it anymore. Untill Katz is replaced I can't listen anymore.

  4. Perhaps, but they've had a very active program to reduce rainwater/sump pump inflows for a number of years. But you are correct that controlling these peak flows will require spending more money - surge tanks, lines or removing storm water inflow at the source.

  5. All sewage goes to the Carmel treatment plant on the White River at 96th St. Rainfall should not affect sewage flows, but somehow it does - and the increased rate is more than the plant can handle a few times each year. One big source is typically homeowners who have their sump pumps connect into the sanitary sewer line rather than to the storm sewer line or yard. So we (Carmel and Clay Twp) need someway to hold the excess flow for a few days until the plant can process this material. Carmel wants the surge tank located at the treatment plant but than means an expensive underground line has to be installed through residential areas while CTRWD wants the surge tank located further 'upstream' from the treatment plant which costs less. Either solution works from an environmental control perspective. The less expensive solution means some people would likely have an unsightly tank near them. Carmel wants the more expensive solution - surprise!

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