The Indianapolis-based maker of oils, lubricants and fuels was among the nation’s largest recipients of Paycheck Protection Program loans, which for the most part were intended for small businesses.
Calumet Specialty ekes out quarterly profit; CFO stepping down
The specialty hydrocarbon and fuels products producer said Keith Jennings would resign as executive vice president and chief financial officer as of Aug. 31, just eight months after joining the company.Read More
Calumet CEO Tim Go, who has spearheaded turnaround efforts at the Indianapolis-based oil refiner and maker of specialty petroleum products, will leave his post at the end of May.
The fine settles U.S. Securities and Exchange Commission charges that the Indianapolis-based fuel-products refiner issued inaccurate information about its 2017 financial performance.
The San Antonio facility has a throughput capacity of 21,000 barrels a day and produces diesel, jet fuel, gasoline and other jet fuel products.
The round of financing was led by Indianapolis-based HG Ventures, which is the corporate venture arm of a major shareholder in Biosynthetic Technologies.
Calumet shares now trade around $6.65, nearly double their October 2016 low but way down from October 2015, when they fetched around $27.
The Indianapolis-based fuel products refiner again lost money, but the loss was smaller than a year ago and indicated that cost-cutting efforts at the company are having an impact on the bottom line.
Indianapolis-based Calumet Specialty Products Partners LP suffered a bigger loss in the fourth quarter than the company originally reported almost four weeks ago.
The Indianapolis-based refinery company said Hurricane Harvey supply-chain disruptions and trouble with a new software system hurt its performance.
Three years after acquiring Anchor Drilling Fluids USA LLC for $235 million, Indianapolis-based Calumet Specialty Products Partners is shedding the subsidiary to reduce debt and concentrate on its core business.
Indianapolis-based Calumet Specialty Products Partners announced Nov. 10 that it was “in the later stages of an enterprise resource planning (ERP) system implementation,” which delayed the third-quarter report.
Shares in Indianapolis-based Calumet Specialty Products Partners jumped Monday after it announced the sale of the crude oil refinery.
The Indianapolis-based refinery company’s financial results, released Thursday morning, showed marked improvement over the same period a year ago.
The Indianapolis-based fuel-products company posted a loss of $33.4 million in the third quarter, marking an improvement over its previous four quarters.
Calumet Specialty Products Partners LP took a huge loss in the second quarter, mostly due to the company’s divestiture of a money-losing refinery in North Dakota.
Struggling Indianapolis-based oil company Calumet Specialty Products Partners announced Tuesday that it has sold its interest in a $430 million refinery that it co-developed in North Dakota.
Indianapolis-based Calumet Specialty Products Partners reported a quarterly loss of $67.7 million Thursday morning as revenue took a nosedive. The company said it might divest some of its assets, including an underperforming $430 million refinery that opened a year ago.
Shares in Indianapolis-based Calumet Specialty Products Partners fell 30 percent in after-hours trading Friday and dropped another 53 percent Monday morning.
Calumet's stock price has fallen so far that the annual dividend yield is a whopping 28 percent—one of the highest in the country.