Calumet specialty products partners, l.p. reports fourth quarter and full year 2023 results

Full year 2023 net income of $48.1 million, or limited partners' interest of $0.59 basic net income per unit full year 2023 adjusted ebitda of $260.5 million announced intent to convert corporate structure to a c-corp from a master limited partnership montana renewables ("mrl") returned to normal operations in december; steam drum successfully replaced specialties business delivers fifth consecutive year of margin growth entered into note purchase agreement to issue $200 million aggregate principal amount of 9.25% senior secured first lien notes due 2029 issued conditional notices to redeem all outstanding 9.25% senior secured first lien notes due 2024 and $50 million aggregate principal amount of our outstanding 11.00% senior notes due 2025 indianapolis , feb. 23, 2024 /prnewswire/ -- calumet specialty products partners, l.p. (nasdaq: clmt) (the "partnership," "calumet," "we," "our" or "us"), today reported results for the fourth quarter and full year ended december 31, 2023, as follows: three months ended december 31,  year ended december 31,  2023 2022 2023 2022 (dollars in millions, except per unit data)(restated) net income (loss) $ (48.0) $ (77.1) $ 48.1 $ (173.3) limited partners' interest basic net income (loss) per unit $ (0.59) $ (0.95) $ 0.59 $ (2.14) adjusted ebitda $ 39.7 $ 63.9 $ 260.5 $ 390.0   specialty products and solutions performance brands montana/renewables three months ended december 31,  three months ended december 31,  three months ended december 31,  2023 2022 2023 2022 2023 2022 (dollars in millions, except per barrel data) gross profit (loss) $ 88.1 $ 96.3 $ 16.1 $ 11.1 $ (82.1) $ (71.6) adjusted gross profit (loss) $ 69.6 $ 93.6 $ 16.5 $ 11.9 $ (19.3) $ (11.2) adjusted ebitda $ 75.6 $ 96.1 $ 6.1 $ 2.7 $ (25.8) $ (13.1) gross profit (loss) per barrel $ 16.11 $ 17.08 $ 135.29 $ 92.50 $ (45.76) $ (66.42) adjusted gross profit (loss) per barrel $ 12.73 $ 16.60 $ 138.66 $ 99.17 $ (10.76) $ (10.39)   specialty products and solutions performance brands montana/renewables year ended december 31,  year ended december 31,  year ended december 31,  2023 2022 2023 2022 2023 2022 (dollars in millions, except per barrel data) gross profit (loss) $ 402.2 $ 325.5 $ 82.1 $ 55.6 $ (32.6) $ (29.4) adjusted gross profit $ 291.0 $ 422.4 $ 78.5 $ 57.8 $ 59.8 $ 86.4 adjusted ebitda $ 251.2 $ 379.4 $ 47.9 $ 20.2 $ 30.2 $ 75.8 gross profit (loss) per barrel $ 18.73 $ 14.49 $ 160.35 $ 107.54 $ (4.56) $ (4.03) adjusted gross profit per barrel $ 13.56 $ 18.81 $ 153.32 $ 111.80 $ 8.36 $ 11.84   "2023 was a strategically foundational year for calumet," said todd borgmann, ceo.
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