OREANDA-NEWS. Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (the "Partnership," the "Company," "Calumet," "we," "our" or "us"), a leading independent producer of specialty hydrocarbon and fuel products, reported a net loss for the fourth quarter ended December 31, 2013 of USD 15.5 million, or USD (0.27) per diluted unit, compared to net income of USD 45.7 million, or USD 0.73 per diluted unit for the same quarter in 2012. Fourth quarter 2013 results include USD 2.8 million of noncash unrealized derivative gains compared to USD 7.5 million of noncash unrealized derivative gains in the prior year period. For the full year 2013, the Partnership reported net income of USD 3.5 million, or USD (0.17) per diluted unit, on Adjusted EBITDA (as defined below in the section of this press release titled "Non-GAAP Financial Measures") of USD 241.5 million. Adjusted EBITDA was USD 53.2 million for the fourth quarter 2013, as compared to USD 91.3 million in the prior year period.

The Partnership's financial performance during the fourth quarter 2013 was adversely impacted by a significant year over year decline in gross profit contribution from both the Specialty Products and Fuel Products segments. Gross profit of the Specialty Products segment was impacted by a combination of factors, including profit margins returning to normalized levels when compared to the elevated margins achieved during the prior year period and higher operating costs, partially offset by higher sales volumes, primarily solvents and waxes. Gross profit of the Fuel Products segment was impacted by a combination of factors, including a year over year decline in benchmark refined product margins partially offset by improved results from derivative instrument settlements, lower planned utilization at the Shreveport refinery, and a year over year increase in operating costs related to compliance with the U.S. Renewable Fuels Standard.

Distributable Cash Flow ("DCF") (as defined below in the section of this press release titled "Non-GAAP Financial Measures") for the fourth quarter 2013 was USD 10.6 million, compared to USD 54.5 million in the prior year period. For the full year 2013, DCF was USD 18.5 million, compared to USD 281.1 million in 2012. DCF for the fourth quarter and the full year 2013 was negatively impacted by a year-over-year decline in Adjusted EBITDA driven primarily by lower gross profit, an increase in planned maintenance capital expenditures and turnaround costs and higher interest expense.