Calumet reported a $26.9 million operating loss in the fourth quarter, compared to a $38.7 million operating loss. For the full year, the company posted a $133.4 million in operating income, improving from an $85.6 million operating loss.

The company said its sales revenue in the fourth quarter rose 15% to $999.8 million, improving from $865.8 million. For the full year, sales jumped 49% to $4.7 billion, up from $3.1 billion.

Calumet said in its earnings presentation that sales for its performance brands segment – which includes packaged and synthetic specialty products – rose 26% to $73.7 million in the fourth quarter, compared to $58.5 million in the same period in 2021.

In the presentation, the company said that sales for its performance brands business rose to $73.7 million in the fourth quarter, compared to $58.5 million in the same period in 2021. “The [performance brands] segment incurred meaningful discrete challenges in 2022, such as the global supply chain crisis, rampant inflation and a full-year force majeure from our largest raw material supplier, much of which meaningfully improved into the end of the year,” Calumet said in its earnings news release.

In the fourth quarter, the company’s lubricating oils production decreased to 10,689 barrels per day, compared to 10,848 b/d. Production of waxes increased to 1,473 b/d, compared to 1,426 b/d. Production for performance brands, a separate category that includes packaged and synthetic specialty products, reached 1,210 b/d in the quarter, up from 1,152 b/d.