Calumet Specialty Products

CLMT

Market cap $1.67B

INDIANAPOLIS , Nov. 25, 2025 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) ("Calumet") announced today that it plans to attend the Bank of America Leveraged Finance Conference on Tuesday, December 2 nd and will hold one-on-one investor meetings throughout the day. About Calumet Calumet, Inc. (NASDAQ: CLMT) manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets.

INDIANAPOLIS , Nov. 11, 2025 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) ("Calumet") announced today that it plans to attend the T.D. Cowen 2nd Annual Energy Conference in New York on Tuesday, November 18 th and will hold one-on-one investor meetings throughout the day.

Calumet, Inc. is balancing specialty chemicals with a growing renewables business, highlighted by operational improvements and a strong Montana Renewables segment. CLMT's Q3 saw cost reductions, record specialty segment production, and progress in renewable fuels, but high interest expense still drives pretax losses. Valuation appears stretched on an EV/EBITDA basis, with negative levered free cash flow due to debt, despite positive unlevered free cash flow and operational gains.

Calumet, Inc. ( CLMT ) Q3 2025 Earnings Call November 7, 2025 9:00 AM EST Company Participants John Kompa - Director of Investor Relations Louis Borgmann - President, CEO & Director David Lunin - Executive VP & CFO Bruce Fleming - Executive Vice President of Montana Renewables & Corporate Development Conference Call Participants Alexa Petrick - Goldman Sachs Group, Inc., Research Division Amit Dayal - H.C. Wainwright & Co, LLC, Research Division Jason Gabelman - TD Cowen, Research Division Gregg Brody - BofA Securities, Research Division Presentation Operator Good morning, and welcome to the Calumet Inc. Third Quarter 2025 Results Conference Call.

INDIANAPOLIS , Nov. 7, 2025 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) ("Calumet") announced today that it plans to attend the Bank of America Global Energy Conference in Houston on Tuesday, November 11 th and will hold one-on-one investor meetings at the conference. About Calumet Calumet, Inc. (NASDAQ: CLMT) manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets.

Calumet reported strong earnings in Q3 but remains unprofitable over the last 12 months. Management has decided to restate Q2 results.

Third quarter 2025 net income of $313.4 million, or basic income per common share of $3.61 Third quarter 2025 Adjusted EBITDA with Tax Attributes of $92.5 million Company-wide cost reduction initiatives driving $61 million of year-over-year operating cost savings through the first nine months of 2025 Montana Renewables remains on track to achieve 120–150 million gallons of annualized SAF production by second quarter of 2026 SAF placement ahead of plan, with approximately 100 million gallons of SAF fully committed or deep in contracting Record production and strong margins in Specialty Products & Solutions segment INDIANAPOLIS , Nov. 7, 2025 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) (the "Company," "Calumet," "we," "our" or "us")  today reported its results for the third quarter ended September 30, 2025, as follows: Three Months Ended September 30,  Nine Months Ended September 30,  2025 2024 2025 2024 (Dollars in millions, except per share data) Net income (loss) $ 313.4 $ (100.6) $ 3.5 $ (181.3) Basic earnings (loss) per common share $ 3.61 $ (1.18) $ 0.04 $ (2.21) Adjusted EBITDA $ 69.6 $ 59.8 $ 162.8 $ 162.7 Adjusted EBITDA with Tax Attributes $ 92.5 $ 59.8 $ 224.0 $ 162.7   Specialty Products and Solutions Performance Brands Montana/Renewables Three Months Ended September 30,  Three Months Ended September 30,  Three Months Ended September 30,  2025 2024 2025 2024 2025 2024 (Dollars in millions, except per barrel data) Gross profit (loss) $ 276.3 $ 2.3 $ 18.5 $ 22.7 $ 78.9 $ (20.1) Adjusted gross profit (loss) $ 89.5 $ 54.6 $ 20.9 $ 24.3 $ (5.3) $ 21.9 Adjusted EBITDA $ 80.2 $ 50.7 $ 13.2 $ 13.6 $ (5.8) $ 14.6 Adjusted EBITDA with Tax Attributes $ 80.2 $ 50.7 $ 13.2 $ 13.6 $ 17.1 $ 14.6 Gross profit (loss) per barrel $ 46.11 $ 0.39 $ 124.16 $ 145.51 $ 34.50 $ (8.48) Adjusted gross profit (loss) per barrel $ 14.94 $ 9.15 $ 140.27 $ 155.77 $ (2.32) $ 9.24   Specialty Products and Solutions Performance Brands Montana/Renewables Nine Months Ended September 30,  Nine Months Ended September 30,  Nine Months Ended September 30,  2025 2024 2025 2024 2025 2024 (Dollars in millions, except per barrel data) Gross profit (loss) $ 227.4 $ 126.7 $ 62.8 $ 70.1 $ (41.5) $ (49.6) Adjusted gross profit (loss) $ 230.0 $ 184.3 $ 67.4 $ 72.9 $ (15.5) $ 36.9 Adjusted EBITDA $ 203.3 $ 170.6 $ 42.5 $ 41.1 $ (24.5) $ 9.9 Adjusted EBITDA with Tax Attributes $ 203.3 $ 170.6 $ 42.5 $ 41.1 $ 36.7 $ 9.9 Gross profit (loss) per barrel $ 13.51 $ 7.37 $ 135.93 $ 146.65 $ (6.01) $ (7.48) Adjusted gross profit (loss) per barrel $ 13.66 $ 10.71 $ 145.89 $ 152.51 $ (2.24) $ 5.57 "Calumet posted strong financial results and continued to achieve key strategic milestones during the third quarter," said Todd Borgmann, CEO.  "Our financial success again demonstrated the strength of Calumet's integrated specialties business, and our continued cost discipline and operational progress has driven a $61 million year-to-date reduction in operating costs versus last year.

Energy stocks like CNQ, DK, CLMT and NOG have the potential to deliver better-than-expected Q3 earnings.

GREAT FALLS, Mont. , Oct. 27, 2025 /PRNewswire/ -- Montana Renewables (MRL), in collaboration with Calumet Montana Refining (CMR), has commissioned onsite blending and shipping facilities to offer a nominal 50/50 blend of renewable and fossil jet fuel certified under ASTM D7566 and ASTM D1655 specifications.

INDIANAPOLIS , Oct. 24, 2025 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) (the "Company," "Calumet," "we," "our" or "us"), announced today that it plans to report results for the Third Quarter 2025 on November 7, 2025. A conference call to discuss the financial and operational results is scheduled for November 7th at 9:00 AM ET.