Calumet Inc

Calumet Specialty Products Partners LP engages in the production of specialty hydrocarbon products. It operates through the following segments: Specialty Products, Fuel Products and Corporate. The Specialty Products segment produces lubricating oils, solvents, waxes, synthetic lubricants and other products. The Fuel Products segment is involved in the processing of crude oil into fuel and fuel-related products, including unleaded gasoline, diesel, and jet fuel, asphalt and other products. The Corporate segment consists of general and administrative expenses not allocated to the specialty products or fuel products segments. The company was founded on September 27, 2005 and is headquartered in Indianapolis, IN.

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Calumet Specialty Products Partners achieves record EBITDA, eyes growth opportunities

Calumet Specialty Products Partners reported strong financial performance in 2022, driven by specialty business growth and strategic focus on sustainability. While facing challenges in certain segments, the company is well-positioned for growth with opportunities in financing, expansion, and investments. Management's emphasis on innovation, collaboration, and financial discipline bodes well for future success.

Calumet Specialty Products Partners excels in Q1 earnings and growth strategies

Calumet Specialty Products Partners delivered a strong performance in Q1 2023, driven by robust earnings in specialty businesses and operational achievements at Montana Renewables.
The company's focus on debt reduction and potential IPO plans for Montana Renewables reflect strategic initiatives aimed at enhancing financial stability and growth prospects.
While facing challenges in sustaining growth momentum and executing debt reduction strategies, Calumet Specialty Products Partners remains poised to capitalize on opportunities for expansion and value creation.

Calumet Specialty Products Partners reports solid Q2 performance and growth opportunities

Calumet Specialty Products Partners showcased strong performance in Q2 2023, with notable achievements in Montana Renewables and Performance Brands businesses.
Despite challenges like severe weather impacting production, the company remains focused on growth opportunities and strategic initiatives.
With a focus on high-value applications and upcoming projects like MaxSAF expansion, Calumet is positioning itself for future success and profitability.

Calumet Specialty Products Partners reports strong Q3 performance and SAF growth opportunities

Calumet Specialty Products Partners showcased solid financial performance and progress in strategic transformation in Q3 2023.
Despite challenges such as operational issues and CFO transition, the company is well-positioned for growth and innovation in the SAF production sector.
Opportunities in producing Sustainable Aviation Fuel in North America and leveraging regulatory support mechanisms present avenues for future success.

Calumet transitions to C-Corp, excels in SAF production amid challenges

Calumet's Q4 performance reflects resilience amid challenges, with a strategic focus on sustainable aviation fuel production and debt management.
The company's conversion to a C-Corp aims to attract more investors and enhance shareholder value, supported by key growth initiatives.
Despite setbacks and challenges, Calumet is actively pursuing opportunities in SAF production, debt reduction, and market expansion for renewable products.

Calumet reports mixed Q1 results, focuses on growth opportunities

Calumet Specialty Products Partners reported mixed Q1 2024 results, with operational challenges at Montana Renewables but strength in Performance Brands and specialties business.
The company is focused on deleveraging, reducing debt levels, and proving the competitive advantage of Montana Renewables to attract investors.
Despite industry challenges and uncertainties, Calumet sees opportunities in the SAF sector, potential transactions, and the C-Corp conversion.
Investor sentiment is positive towards the C-Corp conversion, with expectations of increased trading liquidity and new institutional investors.

Calumet Inc reports robust Q2 earnings, eyes renewable energy growth

Calumet Inc's Q2 performance reflects strong financial results and operational achievements across its specialty and renewable businesses.
The company's focus on driving shareholder value through the C-Corp conversion and debt reduction efforts is evident in its strategic initiatives.
While facing challenges in regulatory monitoring and funding for expansion projects, Calumet remains optimistic about growth opportunities in renewable energy markets.

Calumet Inc (CLMT) reports robust Q3 performance and strategic advancements

Calumet Inc (CLMT) demonstrated strong financial performance and strategic advancements in Q3 2024, positioning the company for continued growth and value creation.
Management's focus on deleveraging, organic growth, and potential asset sales underscores a commitment to enhancing shareholder value and financial stability.
Analyst inquiries highlighted areas of interest and potential challenges, signaling a need for continued operational excellence and strategic decision-making.

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Calumet, Inc. engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate. The Specialty Products & Solutions segment consists of customer-focused solutions and formulations businesses, covering multiple specialty product lines, anchored by a unique integrated complex in Northwest Louisiana. The Performance Brands segment includes a fast-growing portfolio of high-quality, high performing brands. The Montana/Renewables segment is composed of a Great Falls specialty asphalt facility and Montana Renewables facility. The Corporate segment focuses on the general and administrative expenses not allocated to the Montana/Renewables, Specialty Products and Solutions, or Performance Brands segments. The company was founded in 1919 and is headquartered in Indianapolis, IN.

INDIANAPOLIS , June 12, 2023 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (the "Partnership" or "Calumet") and its wholly-owned subsidiary Calumet Finance Corp. announced today that, subject to market conditions, they intend to offer (the "Offering") for sale to eligible purchasers in a private placement under Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"), $325 million in aggregate principal amount of Senior Notes due 2028.

Calumet Specialty Products Partners, L.P. Announces $325 Million Private Placement of Senior Notes due 2028

INDIANAPOLIS , June 12, 2023 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) ("Calumet," "we," "our" or "us"), today announced that it has commenced cash tender offers to purchase (the "Offers") (i) any and all of its 9.25% Senior Secured First Lien Notes due 2024 (CUSIP Nos.

Calumet Specialty Products Partners, L.P. Announces Cash Tender Offers for Any and All of its 9.25% Senior Secured First Lien Notes due 2024 and up to $100 Million of its 11.00% Senior Notes due 2025

Calumet Specialty Products has emerged as North America's largest sustainable aviation fuel (SAF) producer, offering lucrative opportunities in the renewable diesel market. The company's Great Falls refinery has completed construction and is operating at full capacity, with a run-rate EBITDA expectation of $1.25-$1.45 per gallon. Calumet plans to spend $800 million in the next two years for capital and debt reduction, with a potential expansion to maximize SAF production, increasing its EBITDA to $1.1 billion per year.

The Bell Rang: Calumet Specialty Products Is Off To The Race Of The Century

INDIANAPOLIS , June 8, 2023 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) ("Calumet", "The Partnership") will attend the Bank of America Energy Credit Conference in New York City on Thursday, June 8, 2023.

Calumet To Participate in the Bank of America Energy Credit Conference

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Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT ) Q1 2023 Earnings Conference Call May 5, 2023 9:30 AM ET Company Participants Brad McMurray - Investor Relations Todd Borgmann - Chief Executive Officer Vince Donargo - Chief Financial Officer Bruce Fleming - Executive Vice President, Montana Renewables & Corporate Development Scott Obermeier - Executive Vice President, Specialty Conference Call Participants Amit Dayal - H.C.

Calumet Specialty Products Partners, L.P. (CLMT) Q1 2023 Earnings Call Transcript

Net income attributable to partners of $28.7 million, or Limited partners' interest of $0.35 basic net income per unit, for the first quarter of 2023 First quarter Adjusted EBITDA of $77.7 million; TTM Adjusted EBITDA of $444.0 million Montana Renewables commences operations with renewable hydrogen, pretreatment unit, and SAF operation online INDIANAPOLIS , May 5, 2023 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (the "Partnership," "Calumet," "we," "our" or "us"), today reported results for the first quarter ended March 31, 2023, as follows: Three Months Ended March 31, 2023 2022 (Dollars in millions, except per unit data) Net income (loss) attributable to partners $                                28.7 $                             (95.5) Limited partners' interest basic net income (loss) per unit      $                                0.35 $                             (1.18) Adjusted EBITDA $                                77.7 $                               23.3   Specialty Products and Solutions Performance Brands Montana/Renewables Three months ended March 31, Three months ended March 31, Three months ended March 31, 2023 2022 2023 2022 2023 2022 (Dollars in millions, except per barrel data) Gross profit (loss) $        110.3 $          17.7 $              23.6 $              13.3 $            (37.2) $                1.7 Adjusted gross profit $          99.2 $          35.4 $              20.8 $              13.9 $              11.3 $              11.9 Adjusted EBITDA $          76.4 $          28.1 $              16.4 $                5.3 $                4.8 $                9.0 Gross profit (loss) per barrel $        21.30 $          3.21 $         185.83 $         100.00 $          (23.09) $              0.68 Adjusted gross profit per barrel      $        19.15 $          6.42 $         163.78 $         104.51 $              7.01 $              4.78   "Financially and strategically, this was an extremely successful quarter for Calumet," said Todd Borgmann, CEO.

Calumet Specialty Products Partners, L.P. Reports First Quarter 2023 Results

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INDIANAPOLIS , April 25, 2023 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) ("Calumet," "we," "our," or "us") today announced that its Montana Renewables subsidiary ("MRL") completed the startup of its Sustainable Aviation Fuel ("SAF") and Pretreatment units.

Calumet Reaches Milestone of Largest Sustainable Aviation Fuel Producer in North America; Enters Full Operations at Montana Renewables; Arranges Bridge Financing

INDIANAPOLIS, April 24, 2023 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) announced today that it plans to report results for the first quarter 2023 on May 5, 2023.

Calumet To Announce First Quarter 2023 Earnings on May 5, 2023

Calumet Specialty Products: Large Potential Opportunity.

Calumet Specialty Products: Large Potential Opportunity

INDIANAPOLIS , March 27, 2023 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) announced today that its Montana Renewables subsidiary has been invited by the U.S. Department of Energy to submit a Part II Application for a $600 million loan guarantee through the Title XVII Innovative Clean Energy Loan Guarantee Program.

Calumet Reaches Key Application Milestone for Loan Guarantee from the U.S. Department of Energy

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT ) Q4 2022 Earnings Conference Call March 15, 2023 9:00 AM ET Company Participants Brad McMurray - IR Todd Borgmann - CEO Vincent Donargo - CFO Bruce Fleming - EVP Montana/Renewables and Corporate Development Scott Obermeier - EVP Specialty Products and Solutions Marc Lawn - Executive Vice President Performance Brands Conference Call Participants Roger Reed - Wells Fargo Securities Amit Dayal - H.C.

Calumet Specialty Products Partners, L.P. (CLMT) Q4 2022 Earnings Call Transcript

Net loss attributable to partners of $70.0 million, or $(0.86) per unit for the fourth quarter 2022 Fourth quarter Adjusted EBITDA of $63.5 million including planned Montana Turnaround and December Freeze Successful Montana Renewables startup and commencement of Renewable Diesel sales in the fourth quarter Exceptional fourth quarter Specialties margin environment projected to continue into 2023 INDIANAPOLIS , March 15, 2023 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) (the "Partnership," "Calumet," "we," "our" or "us"), today reported results for the fourth quarter and year ended December 31, 2022, as follows: Three Months Ended December 31, Year Ended December 31, 2022 2021 2022 2021 (Dollars in millions, except per unit data) Net loss attributable to partners $                (70.0) $                (87.1) $              (165.1) $              (260.1) Net loss per unit $                (0.86) $                (1.08) $                (2.04) $                (3.23) Adjusted EBITDA $                  63.5 $                  24.6 $                389.6 $                110.3   Specialty Products and Solutions Performance Brands Montana/Renewables Three Months Ended December 31, Three Months Ended December 31, Three Months Ended December 31, 2022 2021 2022 2021 2022 2021 (Dollars in millions, except per barrel data) Gross profit (loss) $              95.9 $              19.2 $                  11.1 $                  11.8 $                (72.1) $                    1.5 Adjusted gross profit (loss) $            111.6 $              34.9 $                  11.9 $                  12.1 $                (24.6) $                  11.0 Adjusted EBITDA $              95.7 $              28.7 $                    2.7 $                    3.7 $                (13.1) $                    9.2 Gross profit (loss) per barrel $            17.01 $              3.97 $                92.50 $             107.27 $              (66.88) $                  0.66 Adjusted gross profit (loss) per barrel $            19.79 $              7.22 $                99.17 $             110.00 $              (22.82) $                  4.82   Specialty Products and Solutions Performance Brands Montana/Renewables Year Ended December 31, Year Ended December 31, Year Ended December 31, 2022 2021 2022 2021 2022 2021 (Dollars in millions, except per barrel data) Gross profit (loss) $            325.1 $              62.6 $                  55.6 $                  68.3 $                (29.9) $                  12.0 Adjusted gross profit $            440.4 $            130.3 $                  57.8 $                  67.3 $                  73.0 $                  52.5 Adjusted EBITDA $            379.0 $            104.6 $                  20.2 $                  33.8 $                  75.8 $                  44.4 Gross profit (loss) per barrel $            14.47 $              3.40 $             107.54 $             135.25 $                (4.10) $                  1.20 Adjusted gross profit per barrel $            19.61 $              7.08 $             111.80 $             133.27 $                10.00 $                  5.23 "2022 was a game-changing year for Calumet as Montana Renewables delivered many strategic milestones, and our specialties business set new financial and operational highs," said Todd Borgmann, CEO.

Calumet Specialty Products Partners, L.P. Reports Fourth Quarter and Full Year 2022 Results

INDIANAPOLIS , March 8, 2023 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) ("Calumet") announced today that its unrestricted subsidiary Montana Renewables, LLC ("Montana Renewables") launched a proposed municipal bond offering of $250 million*, subject to market conditions, of tax-exempt bonds (the "Bonds") to be issued by Cascade County, Montana.

Calumet Launches Montana Renewables Municipal Bond Offering

INDIANAPOLIS , Feb. 27, 2023 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) ("Calumet") announced today that its unrestricted subsidiary Montana Renewables, LLC ("Montana Renewables") has appointed Citigroup Global Markets Inc. to serve as lead underwriter in the proposed offering of $250 million* of tax-exempt bonds (the "Bonds") to be issued by Cascade County, Montana.

Calumet Plans to Access Municipal Bond Market

INDIANAPOLIS , Feb. 22, 2023 /PRNewswire/ -- Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) announced today that it plans to report results for the 2022 fourth quarter and full year on March 15, 2023.

Calumet To Announce 2022 Fourth Quarter and Full Year Earnings on March 15, 2023

Calumet Specialty Products Partners, L.P. (CLMT) witnessed a jump in share price last session on above-average trading volume.

Calumet Specialty Products Partners, L.P. (CLMT) Soars 7.5%: Is Further Upside Left in the Stock?

Calumet has volatile cash flow history but recent data shows it has improved on almost all margin. The Montana Renewables project is the highest priority of the company's push of transition and is coming online currently.

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Solving performance issues found in higher-mileage vehicles. PORTER, Texas , Jan. 16, 2023 /PRNewswire/ -- The Royal Purple® brand, maker of premium synthetic oils, has launched their newest innovation: Max-Restore™ High Mileage Fuel Treatment.

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Crack spreads held up nicely in the December quarter which likely results in a quarterly result similar to September. The results in December offer investors a view into the financial performance of the company excluding MRL.

For Calumet Specialty Products, It's More Of The Same

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