US refiner Calumet Specialty Products Partners saw profit from its specialty products unit stay unusually high in the fourth quarter of last year on the back of firm prices combined with rising output and sales volumes.The significant cash flow generated by the specialties unit allowed Calumet to retain more equity in its renewable fuels refinery project in Montana.The company saw the specialty products unit’s strong margins extend into the first quarter of this year.The firm profit and margins contrasted with the pressure global lubricants blenders faced from high costs and weaker demand..Blender Fuchs’ Q4 profit edges up.Calumet’s adjusted earnings before tax, depreciation and amortization (EBTIDA) from the specialties products unit came to $95.7mn in the three months to end-December.Profit rose more than threefold from $28.7mn during the same period a year earlier.Profit fell from more than $123mn in the second and in the third quarters of the year amid a dip in output and sales and slightly lower margins. .Other US base oils producers also saw sales and profit impacted by weaker demand and lower base oils prices in the fourth quarter.Calumet’s lower output followed unusually cold weather in late December that temporarily impacted operations. The affected facilities resumed normal operations at the start of this year.Base oils production accounted for 15.4pc of total output, down from a 15.6pc share in the third quarter. The share was still the second highest in at least seven years.Profit rose from year-earlier levels on the back of a 37pc rise in sales to $824.8mn.Sales fell from the previous two quarters but were still the third highest since at least 2019.Strong sales supported an EBIDTA margin of 11.6pc in the fourth quarter. The margin fell from 14.1pc in the previous three months and from 12.6pc in the second quarter of the year.It was still up from a margin of less than 10pc throughout most of 2020 and 2021..Re-refiner Safety-Kleen’s Q4 profit falls
US refiner Calumet Specialty Products Partners saw profit from its specialty products unit stay unusually high in the fourth quarter of last year on the back of firm prices combined with rising output and sales volumes.The significant cash flow generated by the specialties unit allowed Calumet to retain more equity in its renewable fuels refinery project in Montana.The company saw the specialty products unit’s strong margins extend into the first quarter of this year.The firm profit and margins contrasted with the pressure global lubricants blenders faced from high costs and weaker demand..Blender Fuchs’ Q4 profit edges up.Calumet’s adjusted earnings before tax, depreciation and amortization (EBTIDA) from the specialties products unit came to $95.7mn in the three months to end-December.Profit rose more than threefold from $28.7mn during the same period a year earlier.Profit fell from more than $123mn in the second and in the third quarters of the year amid a dip in output and sales and slightly lower margins. .Other US base oils producers also saw sales and profit impacted by weaker demand and lower base oils prices in the fourth quarter.Calumet’s lower output followed unusually cold weather in late December that temporarily impacted operations. The affected facilities resumed normal operations at the start of this year.Base oils production accounted for 15.4pc of total output, down from a 15.6pc share in the third quarter. The share was still the second highest in at least seven years.Profit rose from year-earlier levels on the back of a 37pc rise in sales to $824.8mn.Sales fell from the previous two quarters but were still the third highest since at least 2019.Strong sales supported an EBIDTA margin of 11.6pc in the fourth quarter. The margin fell from 14.1pc in the previous three months and from 12.6pc in the second quarter of the year.It was still up from a margin of less than 10pc throughout most of 2020 and 2021..Re-refiner Safety-Kleen’s Q4 profit falls
