Indianapolis-based Calumet reported a $48 million net loss for the quarter ended Dec. 31, improving from a $77.1 million net loss in the same period in 2022. For the full year, net income rebounded to $48 million in net income, compared to a $173.3 million net loss for 2022.

The performance brands category, which includes packaged and synthetic specialty products, reported sales of $70.7 million in the fourth quarter, a 4% decrease compared to the same period in 2022, according to the company’s earnings presentation. Full-year sales for the performance brands category improved 2% to $310.3 million, compared to $303.7 million. The company noted a double digit percentage growth in its core business lines of mining, power and marine applications.

Among specialty products production, in the fourth quarter, lubricating oils production was up 6% at 11,381 barrels per day. Wax production declined 19% to 1,200 b/d.

Production for the performance brands category that includes packaged and synthetic specialty products rose 11% to 1,347 b/d in the fourth quarter.

Perimeter Solutions

Perimeter Solution’s specialty products segment – formerly known as oil additives – reported that adjusted earnings before interest, taxes, depreciation and amortization

dropped 57% to $20.6 million for the full year, compared to $48 million. Fourth-quarter specialty products net sales rose 11% to $24.1 million, compared to $21.7 million.

For the full year, specialty products adjusted EBITDA declined 30% to $4.2 million, compared to $6 million. Net sales for specialty products fell 28% to $96.6 million for the full year, compared to $133.9 million in 2022.

Clayton, Missouri-headquartered Perimeter’s specialty products business manufactures and sells phosphorus pentasulfide, which is mainly used in preparation of lubricant additives, including zinc dialkyldithiophosphates that provide anti-wear protection to engine components. The company produces the chemical at its plants in Sauget, Illinois, and Hurth, Germany.