Calumet Specialty Products Partners, L.P. last Thursday reported results for the quarter ended September 30, 2016, as follows:

For the three months ended September 30, 2016, Calumet reported a net loss of $33.4 million compared to a net loss of $48.9 million in the same quarter in 2015. Adjusted EBITDA for the third quarter was $53.9 million compared to $75.4 million in last years same quarter.

Calumet's $33.4 million net loss for the third quarter 2016 includes, but is not limited to, the impact of two items: (1) an unfavorable lower of cost or market ("LCM") inventory adjustment of $11.0 million and (2) net expense of $10.1 million related to the Partnership's ongoing compliance with the U.S. Renewable Fuel Standard ("RFS"). The Partnership's Adjusted EBITDA of $53.9 million for the third quarter 2016 includes, but is not limited to, the impact of two items: (1) an unfavorable LCM inventory adjustment of $8.4 million and (2) net expense of $10.1 million related to the Partnership's ongoing compliance with RFS.

Specialty products segment gross profit for the third quarter was $81.0 million compared to $89.0 million in the third quarter 2015. Specialty products segment Adjusted EBITDA was $43.4 million compared to $47.6 million in the third quarter 2015.

Lubricating oils sales volume for the third quarter 2016 was 13,847 barrels per day compared to 11,777 bpd in the same quarter last year. Packaged and synthetic specialty products sales volume, which includes production at the Royal Purple, Bel-Ray, Calumet Packaging and Missouri facilities, for this quarter was 1,972 bpd compared to 1,595 bpd in last years third quarter.