Calumet Specialty Products Partners last Thursday reported a net loss of $6.2 million for the first quarter ended March 31, 2017 compared with a net loss of $67.7 million in the first quarter 2016, and an adjusted EBITDA of $78.7 million for the first quarter compared with an adjusted EBITDA of $6.6 million the previous year.

During the first quarter 2017, total specialty products segment sales volumes improved by nearly 10% compared to year ago levels, with volume growth exhibited across lubricating oils, waxes and branded and packaged specialty products categories. Adjusted EBITDA of $45.6 million also increased sequentially from $28.0 million in the fourth quarter of 2016. The financial impact from price adjustments during the period were partially offset by periodic downtime for maintenance activities at two facilities. Both Adjusted EBITDA and gross profit per barrel figures were lower than the same period in the prior year, primarily due to elevated margin capture in the 2016 period as crude oil prices trended rapidly downward during the first quarter of 2016. First quarter Adjusted EBITDA also benefited from a $2.7 million favorable LCM inventory adjustment.

Lubricating oils sales volumes increased from 15,160 barrels per day in the first quarter from 13,854 bpd in the first quarter 2016.

Packaged and synthetic specialty products (includes production at the Royal Purple, Bel-Ray, Calumet Packaging and Missouri facilities) sales volume increased to 2,721 bpd in the first quarter from 2,125 bpd in the first quarter 2016.

Calumet Specialty Products Partners, L.P, is based in Indianapolis, Indiana and operates thirteen manufacturing facilities located in northwest Louisiana, northwest Wisconsin, northern Montana, western Pennsylvania, Texas, New Jersey, Oklahoma and eastern Missouri.