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 second quarter ended June 30, 2014 of USD 8.3 million, or USD (0.17) per diluted unit, compared to net income of USD 7.8 million, or USD 0.05 per diluted unit, in the second quarter 2013. Second quarter 2014 results include USD 23.6 million in non-cash unrealized derivative gains, compared to USD 4.0 million non-cash unrealized derivative losses in the prior year period.

Calumet generated Adjusted EBITDA (as defined below in the section of this press release titled "Non-GAAP Financial Measures") of USD 39.3 million during the second quarter 2014 versUSD 70.0 million in the prior-year period. During the second quarter 2014, both the Fuel Products and Specialty Products segments were impacted by a 30-day plant-wide turnaround at the Partnership's 60,000 barrels per day ("bpd") Shreveport, Louisiana refinery. This extended turnaround, together with a rapid escalation in crude oil prices during the second quarter, impacted refined product margins in the Fuel Products segment during the second quarter 2014. Within the Fuel Products segment, benchmark diesel and gasoline crack spreads declined on a year-over-year basis by 23% and 14%, respectively, when compared to the second quarter 2013.

Distributable Cash Flow ("DCF") (as defined below in the section of this press release titled "Non-GAAP Financial Measures") for the second quarter 2014 was USD (20.4) million, compared to USD (2.5) million in the prior year period. The year-over-year decrease in DCF was driven primarily by a decline in Adjusted EBITDA and higher cash interest expense, partially offset by lower turnaround costs.