Calumet Specialty revenue, profit jump after acquisition

Back to TopCommentsE-mailPrintBookmark and Share

Indianapolis-based Calumet Specialty Products Partners LP said Wednesday morning that a major refinery acquisition helped company revenue and profit soar in the fourth quarter compared to the same period in 2010.

Calumet had profit of $26.9 million, or 50 cents per share, compared with $9.5 million, or 26 cents a share, in the fourth quarter of 2010.

Quarterly revenue rose from $596.2 million to $1 billion.

The company attributed much of the profit to an increase in the average selling price and demand for its specialty products, partially offset by higher crude oil prices.

The fuel products segment profited from a 106.8-percent increase in sales volume primarily due to its $442 million acquisition in September of a Superior, Wis., refinery from El Dorado, Ark.-based Murphy Oil Corp.

For the entire year, Calumet had profit of $43 million compared with $16.7 million in 2010.

Revenue last year rose to $3.1 billion from $2.1 billion.

Calumet makes custom lubricants, waxes and solvents. It has a refinery in Shreveport, La., and also sells traditional fuel products.

Calumet shares opened trading Wednesday morning at $22.10 each, near a 52-week high of $24 reached in July.


Post a comment to this story

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

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ