Headquartered in Indianapolis, IN Fiscal year ends December NASDAQ: CLMT calumet.com
Calumet, Inc. (NASDAQ: CLMT) manufactures, formulates and markets specialty branded products and renewable fuels for consumer-facing and industrial markets, operating twelve facilities across North America. It reports three segments:
- Specialty Products and Solutions (SPS): an integrated specialties platform supplied by advantaged domestic crude. It produces lubricating oils, solvents, waxes, and fuels, asphalt and other by-products.
- Performance Brands: branded finished lubricants and specialty products.
- Montana/Renewables: combines Montana Renewables, LLC (MRL), a renewable diesel and sustainable aviation fuel (SAF) producer that earns federal Section 45Z clean fuel production tax credits, with Calumet Montana Refining (CMR), which produces specialty asphalt and conventional fuels.
A noncontrolling investor holds roughly 13.2% of Montana Renewables Holdings LLC. Calumet is pursuing a MaxSAF expansion targeting about 200 million gallons of annual SAF production by year-end 2028. Its results are sensitive to crack spreads, Renewable Fuel Standard RIN costs and hedging outcomes. Updated
Calumet just posted its first real profit quarter after seven straight of losses or near-breakeven, with specialty products EBITDA tripling to $248.1 million on a global shortage in that market. Management has been retiring high-cost debt since July, so the earnings power is going straight at a balance sheet that still carries negative equity.
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Calumet, Inc. (NASDAQ: CLMT) manufactures, formulates and markets specialty branded products and renewable fuels for consumer-facing and industrial markets, operating twelve facilities across North America.
The Wall Street consensus 12-month price target for CLMT is $55.80.
