Calumet Specialty Products Partners L.P. posted a $48.9 million net loss for the third quarter, down from $9.4 million net income in 2014s third quarter.

Excluding four special items, Indianapolis-based Calumet reported adjusted net income of $71.1 million, up 83.3 percent from $38.8 million in adjusted net income for 2014s third quarter. The four special items – totaling $120 million – include an inventory-related item, impairment charges related to its oilfield services segment and investment in a gas-to-liquids joint venture, and an unrealized loss on derivative instruments. Derivatives are financial products with value that stems from an underlying asset.

Sales for the third quarter reached more than $1.1 billion, down 35.3 percent from $1.7 billion.

Third quarter specialty product production volumes amounted to 23,205 barrels per day, down 16.8 percent from a year earlier. Lubricating oils reached 11,777 b/d, down 7.7 percent from 14,303 b/d. Packaged and synthetic specialty products declined to 1,595 b/d, down 16.3 percent from 1,904 b/d. Other third-quarter production volumes included 1,267 b/d for waxes, 6,913 b/d for solvents and 1,653 b/d for other products.

Updating the status of growth projects announced in 2013, the partnership said in its earnings news release that it anticipates that the Missouri esters plant expansion will be completed during the fourth quarter 2015, at which time Calumet intends to ramp up sales volumes to customers. Esters are a key base stock used in the aviation, refrigerant and automotive lubricants markets.

Clean Harbors

Norwell, Mass.-based Clean Harbors said its Kleen Performance Products segment – which includes oil rerefining – posted $100.8 million in third-party revenues for the third quarter, down 28.2 percent from $140.3 million a year earlier.

Third-party revenues represent the segments sales of base oil, blended products and reclaimed fuel oil and a small amount of byproducts.

Profitability in our recently rebranded Kleen Performance Products segment – formerly oil rerefining and recycling – was down as multiple declines in base oil pricing compressed margins, Clean Harbors Chairman and CEO Alan McKim noted in the companys earnings news release. Last month, the company announced it had carved out its base oils and lubricants business under the new name.

He said the company expects Kleen Performance Products to benefit from its ongoing efforts to lower transportation costs and from the full quarter effect of its charge-for-oil initiative launched in September last year. The company expects that initiative to help mitigate the significant decline in base oil pricing as we seek to manage the spread in our rerefining business.

McKim said Clean Harbors overall third-quarter results, which were in line with previously announced guidance, were achieved despite considerable headwinds. These include weaknesses in the energy sector, declines in base oil pricing and the effects of a strong U.S. dollar on some domestic customers who rely on exporting, as well as its impact on foreign currency translation, he added.

Milacron

Cincinnati-headquartered Milacron Holdings Corp.s Industrial Fluids segment, which supplies metalworking and industrial fluids, reported operating earnings of $2.7 million, down 32.5 percent from $4 million in 2014s third quarter

The segment posted sales of $29.9 million for the third quarter, down almost 10 percent from $33.2 million a year earlier. Excluding $3.5 million of unfavorable effects attributed to currency movements, sales increased 0.6 percent compared to the prior year period.