CLMT Stock Recent News

Calumet (CLMT) saw huge gains at the start of the trading day before giving all its strength back by the time the closing bell rung. George Tsilis discusses why this happened not just for this stock, but others in its industry.

Montana Renewables to expand Sustainable Aviation Fuel capacity by 300 million gallons per year INDIANAPOLIS , Oct. 16, 2024 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) ("Calumet," "we," "our" or "us") announced today that the U.S. Department of Energy ("DOE") Loan Programs Office ("LPO") has awarded a conditional commitment for a loan guarantee of up to $1.44 billion to fund the construction and expansion of a renewable fuels facility owned by Montana Renewables, LLC ("Montana Renewables" or "MRL").  Montana Renewables is an unrestricted subsidiary of Calumet.

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").

MINNEAPOLIS , Sept. 25, 2024 /PRNewswire/ -- The first Minneapolis-St. Paul International Airport (MSP) flight departure fueled by Sustainable Aviation Fuel (SAF) takes to the skies today.

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.

Calumet, Inc. (NASDAQ:CLMT ) Q2 2024 Earnings Conference Call August 9, 2024 9:00 AM ET Company Participants John Kompa - Director, IR Todd Borgmann - CEO David Lunin - EVP and CFO Bruce Fleming - EVP, Montana Renewables and Corporate Development Scott Obermeier - EVP, Specialties Conference Call Participants Roger Read - Wells Fargo Saumya Jain - UBS Neil Mehta - Goldman Sachs Amit Dayal - H.C. Wainwright Gregg Brody - Bank of America Jason Gabelman - TD Cowen Operator Good morning everyone, and welcome to the Calumet, Inc.'s Second Quarter 2024 Results Conference Call.

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 $

INDIANAPOLIS , July 26, 2024 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) (the "Company," "Calumet," "we," "our" or "us"), announced today that it plans to report results for the second quarter 2024 on August 9, 2024. A conference call to discuss the financial and operational results is scheduled for August 9, 2024 at 9:00 AM ET.

Common Stock of Calumet, Inc. to Commence Trading on Nasdaq on Thursday, July 11 INDIANAPOLIS , July 10, 2024 /PRNewswire/ -- July 10, 2024 — Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (the "Partnership," "Calumet," "we," "our" or "us"), announced today that it has completed the previously announced conversion (the "Conversion") of its structure from a master limited partnership ("MLP") to a C-Corporation, pursuant to which the unitholders of the Partnership became shareholders of Calumet, Inc. ("New Calumet").