Profile
Sector:
EnergyIndustry:
Oil & Gas Equipment & ServicesCountry:
United StatesIPO:
26 January 2006Website:
http://calumet.comNext earnings report:
08 November 2024Last dividends:
29 January 2016Next dividends:
N/APrice
after hours | Fri, 01 Nov 2024 23:29:35 GMTDividend
Analysts recommendations
Institutional Ownership
CLMT Latest News
INDIANAPOLIS , Oct. 29, 2024 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) ("Calumet") announced today plans to attend the Goldman Sachs Carbonomics Conference on Tuesday, November 12, 2024, in London, England. Calumet will be holding one-on-one investor meetings throughout the day at the conference and participating in a panel discussion regarding decarbonization in the aviation industry.
INDIANAPOLIS , Oct. 25, 2024 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) (the "Company," "Calumet," "we," "our" or "us"), announced today that it plans to report results for the Third Quarter 2024 on November 8, 2024. A conference call to discuss the financial and operational results is scheduled for November 8th at 9:00 AM ET.
INDIANAPOLIS , Oct. 23, 2024 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) (the "Company," "Calumet," "we," "our" or "us") announced today preliminary selected financial results for the third quarter ended September 30, 2024. Based on preliminary data, the Company currently expects to report a net loss between $110 million and $90 million and Adjusted EBITDA between $45 million and $55 million for the third quarter 2024.
The United States Department of Energy (DOE) loan programs office (LPO) provides loans and loan guarantees to support the development and deployment of innovative clean energy projects. A DOE LPO loan directly lends money to the company for eligible projects.
CLMT subsidiary Montana Renewables is set to become a world leader in Sustainable Aviation Fuel production, capable of producing 300 million gallons per year.
Calumet secures a $1.44 billion loan guarantee from the US Dept of Energy, enabling significant expansion in SAF and renewable diesel production. The loan terms are highly favorable, with a 15-year term at 3/8's over the prevailing treasury rate, and interest deferred until production starts. The expanded capacity could generate $330-405 million in EBITDA within a year, with potential to reach $900 million to $1 billion in a bull case.
INDIANAPOLIS , Oct. 3, 2024 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) (the "Company," "Calumet," "we," "our" or "us") announced today a series of related agreements with Stonebriar Commercial Finance LLC ("Stonebriar"). Our restricted subsidiary Calumet Montana Refining, LLC ("CMR") entered into a new agreement with Stonebriar in which CMR sold certain of its assets to Stonebriar for $150 million and leased back the same assets ("CMR Funding Agreement").
Calumet, Inc.'s transformation hinges on its 86% stake in Montana Renewables, which is converting to renewable refining, potentially driving significant equity value. The company seeks a DOE loan to expand SAF production, potentially boosting MRL's value to $4.2 billion and Calumet's stake to $2.6 billion. Specialty and performance products generate $300 million low-volatility EBITDA, but high debt limits equity value; selling performance brands could reduce debt and increase value.
Calumet reported in line second quarter results, with the Great Falls asphalt business $10 million below our estimate. Management offered financial hints for balance sheet fixes, leading to a significant stock price increase. The future outlook includes a DOE loan, a possible partnership, and a balance sheet deleveraging plan.
Second quarter 2024 net loss of $39.1 million, or Limited partners' interest of $0.48 basic net loss per unit Second quarter 2024 Adjusted EBITDA of $66.8 million Successfully completed conversion of structure from a Master Limited Partnership ("MLP") to a C-Corp Montana Renewables ("MRL") achieved full production levels for the second quarter; produced approximately 7 million gallons of SAF Record volumes achieved in both Specialties and Renewables businesses INDIANAPOLIS , Aug. 9, 2024 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) today reported results of Calumet Specialty Products Partners, L.P. (the "Partnership," "Calumet," "we," "our" or "us") for the second quarter ended June 30, 2024, as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (Dollars in millions, except per unit data) Net loss $ (39.1) $ (22.3) $ (80.7) $ (3.7) Limited partners' interest basic net loss per unit $ (0.48) $ (0.27) $ (0.98) $ (0.05) Adjusted EBITDA $ 66.8 $ 68.1 $ 88.4 $ 145.4 Specialty Products and Solutions Performance Brands Montana/Renewables Three Months Ended June 30, Three Months Ended June 30, Three Months Ended June 30, 2024 2023 2024 2023 2024 2023 (Dollars in millions, except per barrel data) Gross profit (loss) $ 39.1 $ 45.3 $ 25.1 $ 21.4 $ (0.4) $ 4.8 Adjusted gross profit $ 66.0 $ 68.3 $ 25.4 $ 22.6 $ 18.8 $ 19.3 Adjusted EBITDA $ 65.8 $ 61.0 $ 14.1 $ 12.2 $ 7.6 $ 13.0 Gross profit (loss) per barrel $ 6.71 $ 8.55 $ 141.01 $ 153.96 $ (0.18) $ 2.70 Adjusted gross profit per barrel $ 11.32 $ 12.90 $ 142.70 $ 162.59 $ 8.53 $ 10.85 Specialty Products and Solutions Performance Brands Montana/Renewables Six Months Ended June 30, Six Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 2024 2023 (Dollars in millions, except per barrel data) Gross profit (loss) $ 124.4 $ 155.2 $ 47.4 $ 45.0 $ (29.5) $ (32.1) Adjusted gross profit $ 117.4 $ 167.1 $ 48.6 $ 43.4 $ 12.8 $ 30.9 Adjusted EBITDA $ 107.6 $ 137.0 $ 27.5 $ 28.6 $ (6.9) $ 17.8 Gross profit (loss) per barrel $ 11.07 $ 14.82 $ 147.20 $ 169.17 $ (6.92) $ (9.47) Adjusted gross profit per barrel $ 10.45 $ 15.95 $ 150.93 $ 163.16 $ 3.00 $ 9.12 "Calumet benefited from a strong operational quarter as we continue to demonstrate the strength of our specialties and renewables businesses," said Todd Borgmann, CEO.
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What type of business is Calumet Specialty Products Partners LP?
Calumet, Inc. manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Montana/Renewables; and Performance brands segments. The Specialty Products and Solutions segment offers various solvents, waxes, customized lubricating oils, white oils, petrolatums, gels, esters, and other products. The Montana/Renewables segment focuses on processing renewable feedstocks into renewable diesel, sustainable aviation fuel, renewable hydrogen, renewable natural gas, renewable propane, and renewable naphtha. It also processes Canadian crude oil into conventional gasoline, diesel, jet fuel, and specialty grades of asphalt. The Performance Brands segment blends, packages, and markets high performance products through Royal Purple, Bel-Ray, and TruFuel brands. The company serves wholesale distributors and retail chains. Calumet, Inc. was founded in 1919 and is headquartered in Indianapolis, Indiana.
What sector is Calumet Specialty Products Partners LP in?
Calumet Specialty Products Partners LP is in the Energy sector
What industry is Calumet Specialty Products Partners LP in?
Calumet Specialty Products Partners LP is in the Oil & Gas Equipment & Services industry
What country is Calumet Specialty Products Partners LP from?
Calumet Specialty Products Partners LP is headquartered in United States
When did Calumet Specialty Products Partners LP go public?
Calumet Specialty Products Partners LP initial public offering (IPO) was on 26 January 2006
What is Calumet Specialty Products Partners LP website?
https://calumet.com
Is Calumet Specialty Products Partners LP in the S&P 500?
No, Calumet Specialty Products Partners LP is not included in the S&P 500 index
Is Calumet Specialty Products Partners LP in the NASDAQ 100?
No, Calumet Specialty Products Partners LP is not included in the NASDAQ 100 index
Is Calumet Specialty Products Partners LP in the Dow Jones?
No, Calumet Specialty Products Partners LP is not included in the Dow Jones index
When was Calumet Specialty Products Partners LP the previous earnings report?
No data
When does Calumet Specialty Products Partners LP earnings report?
The next expected earnings date for Calumet Specialty Products Partners LP is 08 November 2024