CLMT Stock Recent News

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").

99.6% of the Votes Cast Supported the Conversion INDIANAPOLIS , July 9, 2024 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (the "Partnership," "Calumet," "we," "our" or "us"), announced today that its unitholders voted to approve 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 will become shareholders of Calumet, Inc. ("New Calumet") upon closing of the Conversion.

INDIANAPOLIS , June 10, 2024 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) ("Calumet," the "Partnership," "we" or "us") announced today that a special meeting (the "Special Meeting") of unitholders to approve the previously announced conversion (the "Conversion") of Calumet from a master limited partnership to a Delaware corporation, among other things, has been scheduled to take place on July 9, 2024.

Calumet Specialty Products reported results negatively impacted by rapidly changing markets in its 1st Quarter. Much of the negative impacts are likely recovered in the natural cycling of the energy markets on a full-year basis. MRL, the low-cost renewable producer, now generates positive cash flows, which are likely to significantly increase over the next two to three quarters.

INDIANAPOLIS , May 13, 2024 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) ("Calumet", "our", "we"), announced today plans to participate in TD Cowen's 2nd Annual Sustainability Week.