Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION

v3.19.3
SEGMENT INFORMATION
9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
SEGMENT INFORMATION
SEGMENT INFORMATION

We operate through business segments according to the nature and economic characteristics of our products as well as the manner in which the information is used internally by our key decision maker, who is our Chief Executive Officer. Segment data may include rounding differences.

Our Specialty Petrochemicals segment includes SHR and GSPL. Our Specialty Waxes segment is TC. We also separately identify our corporate overhead which includes administrative activities such as legal, accounting, consulting, investor relations, officer and director compensation, corporate insurance, and other administrative costs.

 
Three Months Ended September 30, 2019
 
Specialty Petrochemicals

 
Specialty Waxes

 
Corporate

 
Eliminations

 
Consolidated

 
(in thousands)
Product sales
$
53,277

 
$
5,834

 
$

 
$

 
$
59,111

Processing fees
1,208

 
2,396

 

 

 
3,604

Total revenues
54,485

 
8,230

 

 

 
62,715

Operating profit (loss) before depreciation and amortization
10,414

 
(260
)
 
(2,670
)
 

 
7,484

Operating profit (loss)
7,449

 
(1,808
)
 
(2,683
)
 

 
2,958

Profit (loss) from continuing operations before taxes
6,583

 
(2,071
)
 
(2,691
)
 

 
1,821

Depreciation and amortization
1,900

 
1,548

 
14

 

 
3,462

Capital expenditures
2,163

 
361

 

 

 
2,524

 
Three Months Ended September 30, 2018
 
Specialty Petrochemicals

 
Specialty Waxes

 
Corporate

 
Eliminations

 
Consolidated

 
(in thousands)
Product sales
$
61,675

 
$
6,938

 
$

 

 
$
68,613

Processing fees
2,056

 
2,799

 

 
(52
)
 
4,803

Total revenues
63,731

 
9,737

 

 
(52
)
 
73,416

Operating profit (loss) before depreciation and amortization
6,167

 
415

 
(2,252
)
 

 
4,330

Operating profit (loss)
3,516

 
(936
)
 
(2,270
)
 

 
310

Profit (loss) from continuing operations before taxes
2,561

 
(1,239
)
 
(2,274
)
 

 
(952
)
Depreciation and amortization
2,651

 
1,351

 
16

 

 
4,018

Capital expenditures
2,562

 
1,094

 

 

 
3,656

 
Nine Months Ended September 30, 2019
 
Specialty Petrochemicals

 
Specialty Waxes

 
Corporate

 
Eliminations

 
Consolidated

 
(in thousands)
Product sales
$
167,351

 
$
18,582

 
$

 
$

 
$
185,933

Processing fees
4,117

 
7,191

 

 

 
11,308

Total revenues
171,468

 
25,773

 

 

 
197,241

Operating profit (loss) before depreciation and amortization
31,849

 
(343
)
 
(7,158
)
 

 
24,348

Operating profit (loss)
22,885

 
(4,638
)
 
(7,203
)
 

 
11,044

Profit (loss) from continuing operations before taxes
20,093

 
(5,623
)
 
(7,202
)
 

 
7,268

Depreciation and amortization
7,899

 
4,295

 
46

 

 
12,240

Capital expenditures
5,002

 
1,296

 

 

 
6,298

 
Nine Months Ended September 30, 2018
 
Specialty Petrochemicals

 
Specialty Waxes

 
Corporate

 
Eliminations

 
Consolidated

 
(in thousands)
Product sales
$
178,094

 
$
20,755

 
$

 
32

 
$
198,881

Processing fees
5,769

 
8,863

 

 
(250
)
 
14,382

Total revenues
183,863

 
29,618

 

 
(218
)
 
213,263

Operating profit (loss) before depreciation and amortization
20,655

 
1,969

 
(5,234
)
 

 
17,390

Operating profit (loss)
14,635

 
(2,051
)
 
(5,268
)
 

 
7,316

Profit (loss) from continuing operations before taxes
12,474

 
(2,926
)
 
(5,205
)
 

 
4,343

Depreciation and amortization
6,020

 
4,020

 
32

 

 
10,072

Capital expenditures
16,374

 
2,716

 

 

 
19,090

 
September 30, 2019
 
Specialty Petrochemicals

 
Specialty Waxes

 
Corporate

 
Eliminations

 
Consolidated

 
(in thousands)
Trade receivables, product sales
$
19,129

 
$
4,081

 
$

 
$

 
$
23,210

Trade receivables, processing fees
517

 
1,770

 

 

 
2,287

Goodwill and intangible assets, net

 
39,349

 

 

 
39,349

Total assets
293,098

 
113,007

 
90,174

 
(165,722
)
 
330,557

 
December 31, 2018
 
Specialty Petrochemicals

 
Specialty Waxes

 
Corporate

 
Eliminations

 
Consolidated

 
(in thousands)
Trade receivables, product sales
$
21,915

 
$
3,173

 
$

 
$

 
$
25,088

Trade receivables, processing fees
633

 
1,391

 

 

 
2,024

Goodwill and intangible assets, net

 
40,745

 

 

 
40,745

Total assets
284,367

 
115,366

 
91,474

 
(161,239
)
 
329,968