Calumet Specialty Products Turns To Loss In Q3 - Quick Facts

(RTTNews) - Calumet Specialty Products Partners LP (CLMT) reported a net loss of $34.8 million, or $0.54 per unit in the third quarter, versus an income of $42.4 million, or $0.69 per unit for the same quarter in 2012. On average, 9 analysts polled by Thomson Reuters expected earnings per share of $0.11 for the quarter. Analysts' estimates typically exclude one-time items.

The latest results include $2.4 million in non-cash unrealized derivative gains, compared with $22.1 million of non-cash unrealized derivative losses in the third quarter of 2012, the company added.

Sales of $1.50 billion in the quarter, were higher than the prior-year figure of $1.18 billion. Analysts estimated revenues of $1.35 billion for the quarter.

"Higher crude oil prices adversely impacted refined product margins within both our fuel and specialty products segments during the third quarter," stated Bill Grube, Vice Chairman and Chief Executive of Calumet Specialty Products Partners, L.P.