Earnings summaries and quarterly performance for Calumet, Inc. /DE.
Executive leadership at Calumet, Inc. /DE.
Todd Borgmann
Detailed
President & Chief Executive Officer
CEO
BF
Bruce Fleming
Detailed
Executive Vice President — Montana Renewables & Corporate Development
DL
David Lunin
Detailed
Executive Vice President — Chief Financial Officer
GM
Gregory Morical
Detailed
Senior Vice President, General Counsel & Secretary
JK
John Krutz
Detailed
Chief Accounting Officer
SO
Scott Obermeier
Detailed
Executive Vice President — Specialties
Board of directors at Calumet, Inc. /DE.
AM
Amy M. Schumacher
Detailed
Director
DJ
Daniel J. Sajkowski
Detailed
Director
JG
Jennifer G. Straumins
Detailed
Director
J(
John (“Jack”) G. Boss
Detailed
Director
JQ
Julio Quintana
Detailed
Director
KA
Karen A. Twitchell
Detailed
Lead Independent Director
KN
Karen Narwold
Detailed
Director
PC
Paul C. Raymond III
Detailed
Director
SP
Stephen P. Mawer
Detailed
Chair of the Board
Research analysts who have asked questions during Calumet, Inc. /DE earnings calls.
GB
Gregg Brody
Bank of America Merrill Lynch
4 questions for CLMT
Also covers: BORR, CRK, NGL
JG
Jason Gabelman
TD Cowen
4 questions for CLMT
Also covers: BP, CLNE, CVX +19 more
AD
Amit Dayal
H.C. Wainwright & Co., LLC
3 questions for CLMT
Also covers: ACHR, AIRJ, AMPX +26 more
Neil Mehta
Goldman Sachs
2 questions for CLMT
Also covers: AESI, APA, AR +36 more
RR
Roger Read
Wells Fargo & Company
2 questions for CLMT
Also covers: APA, AR, BP +22 more
Adam Alexander Wijaya
Goldman Sachs
1 question for CLMT
Also covers: CCJ, CVI, IMO +1 more
Alexa Petrick
Goldman Sachs
1 question for CLMT
Also covers: CNQ, DK, GTLS +2 more
Conor Fitzpatrick
Bank of America Merrill Lynch
1 question for CLMT
Also covers: DAR, MPC, PBF
SJ
Saumya Jain
UBS
1 question for CLMT
Also covers: AMTX, BLDP, CLNE +8 more
Recent press releases and 8-K filings for CLMT.
Calumet, Inc. Amends Credit Agreement, Extending Maturity and Modifying Commitments
CLMT
Debt Issuance
New Projects/Investments
- Calumet, Inc. entered into the Ninth Amendment to its Third Amended and Restated Credit Agreement on January 23, 2026.
- The amendment extends the maturity date of the credit agreement to January 23, 2031.
- It establishes commitments of $500.0 million, subject to borrowing base limitations, and includes a provision for a reduction to $425.0 million if new inventory financing transactions are consummated.
- The Ninth Amendment also revises certain covenants, representations, and warranties to facilitate these new inventory financing transactions.
Jan 29, 2026, 9:39 PM
Calumet Completes Upsized Notes Offering
CLMT
Debt Issuance
- Calumet, Inc. (CLMT) completed an upsized private placement of $405 million in aggregate principal amount of 9.75% Senior Notes due 2031.
- The Notes were issued at 98.996% of par, generating net proceeds of approximately $393 million.
- The company intends to use these proceeds, along with cash on hand and borrowings under its revolving credit facility, to redeem all outstanding 11.00% Senior Notes due 2026 and 8.125% Senior Notes due 2027 on or before January 21, 2026.
- CEO Todd Borgmann attributed the over-subscribed offering to over $220 million of restricted group debt reduction in 2025 and over $120 million of cash generated in the second half of 2025.
Jan 12, 2026, 9:24 PM
Calumet Completes Upsized Notes Offering
CLMT
Debt Issuance
New Projects/Investments
- Calumet, Inc. (NASDAQ: CLMT) closed a private placement of $405 million in aggregate principal amount of 9.75% Senior Notes due 2031, which was upsized from an original offering size of $350 million.
- The notes were issued at 98.996% of par, resulting in net proceeds of approximately $393 million.
- The company plans to use these proceeds, along with cash on hand and borrowings under its revolving credit facility, to redeem all outstanding 11.00% Senior Notes due 2026 and 8.125% Senior Notes due 2027.
- CEO Todd Borgmann noted that the offering, supported by over $220 million of restricted group debt reduction in 2025 and over $120 million of cash generated in the second half of 2025, will eliminate near-term senior note maturities.
Jan 12, 2026, 9:15 PM
Calumet prices upsized private placement of $405 million senior notes
CLMT
Debt Issuance
- Calumet, Inc. priced an upsized private placement of $405 million aggregate principal amount of 9.75% Senior Notes due 2031.
- The Notes, which mature on February 15, 2031, will be issued at 98.996% of par and are expected to close on January 12, 2026.
- The company intends to use the net proceeds, approximately $393.0 million, together with cash on hand and borrowings under its revolving credit facility, to redeem all outstanding 11.00% Senior Notes due 2026 and 8.125% Senior Notes due 2027 on or before January 21, 2026.
Jan 8, 2026, 9:36 PM
Calumet Prices $405 Million Senior Notes Offering
CLMT
Debt Issuance
- Calumet, Inc. priced a private placement of $405 million in aggregate principal amount of 9.75% Senior Notes due 2031.
- The offering was upsized from an original size of $350 million and is expected to close on January 12, 2026.
- Calumet intends to use the net proceeds to redeem its outstanding 11.00% Senior Notes due 2026 and 8.125% Senior Notes due 2027.
Jan 7, 2026, 11:26 PM
Calumet Announces $350 Million Senior Note Private Placement and Debt Redemption
CLMT
Debt Issuance
New Projects/Investments
Guidance Update
- Calumet announced a $350 million private placement of senior unsecured notes due 2031 to redeem all outstanding 11.00% Senior Notes due 2026 and $275 million of outstanding 8.125% Senior Notes due 2027.
- The company reduced Restricted Group indebtedness by $220.0 million in 2025 and expects $100 million in company-wide cost reductions for 2025.
- A proposed Replacement Credit Facility of up to $500.0 million is currently in process.
- The MaxSAF™ 150 expansion at the Montana Renewables facility is expected to deliver 120 to 150 million gallons of annualized sustainable aviation fuel (SAF) production by the second quarter of 2026.
Jan 6, 2026, 12:59 PM
Calumet Announces Private Placement of Senior Notes and Conditional Redemption of Existing Notes
CLMT
Debt Issuance
- Calumet's wholly owned subsidiaries intend to offer $350 million in aggregate principal amount of senior unsecured notes due 2031 through a private placement.
- The net proceeds from this offering, along with cash on hand and borrowings, will be used to redeem all outstanding 11.00% Senior Notes due 2026 and $275 million aggregate principal amount of the outstanding 8.125% Senior Notes due 2027.
- The redemptions are conditional upon the completion of an offering of at least $325 million aggregate principal amount of the Issuers' senior debt securities.
- The redemption dates for the 2026 Notes and 2027 Notes are January 21, 2026, and January 16, 2026, respectively.
Jan 6, 2026, 12:48 PM
Calumet Announces Preliminary Fiscal Year 2025 Financial Results
CLMT
Earnings
Guidance Update
New Projects/Investments
- Calumet, Inc. expects a preliminary net loss between $69.0 million and $12.0 million and Adjusted EBITDA with Tax Attributes between $285.0 million and $305.0 million for the fiscal year ended December 31, 2025.
- The company reduced restricted debt by more than $220 million in 2025, driven by $70 million of structural annual cost improvements, $20 million of cost efficiencies, and an accretive $110 million divestiture of the Royal Purple Industrial business.
- Montana Renewables completed a U.S. Department of Energy loan, which eliminated approximately $80 million of annual cash debt service, and monetized over $90 million of producer tax credits during 2025.
- As of December 31, 2025, Calumet reported total liquidity of approximately $447 million.
Jan 6, 2026, 2:51 AM
Calumet Provides Preliminary Fiscal Year 2025 Financial Results
CLMT
Earnings
Guidance Update
M&A
- Calumet, Inc. announced preliminary financial results for the year ended December 31, 2025, expecting a net loss between $69.0 million and $12.0 million and Adjusted EBITDA with Tax Attributes between $285.0 million and $305.0 million.
- The company reduced restricted debt by more than $220 million in 2025, driven by over $70 million in structural annual cost improvements, approximately $20 million in crude supply chain efficiencies, and an accretive $110 million divestiture of the Royal Purple Industrial business.
- As of December 31, 2025, Calumet reported total liquidity of approximately $447 million, which included approximately $250 million in the Restricted Subsidiaries Group.
- Montana Renewables successfully completed the first U.S. Department of Energy loan, eliminating approximately $80 million of annual cash debt service, and monetized over $90 million of producer tax credits during 2025.
Jan 6, 2026, 12:09 AM
Calumet Reports Strong Q3 2025 Adjusted EBITDA and Strategic Progress
CLMT
Earnings
New Projects/Investments
Accounting Changes
- Calumet generated $92.5 million of adjusted EBITDA with tax attributes in the third quarter of 2025.
- The Specialty Products and Solutions segment generated $80.2 million of adjusted EBITDA in Q3 2025, with sales volumes exceeding 20,000 barrels per day at margins above $60 per barrel.
- The company reduced its outstanding balance sheet RIN obligation by over $320 million and successfully monetized its first $25 million PTC sale in Q3 2025, with an additional $15 million sold in October.
- The max SAF expansion remains on schedule for the first half of 2026, with a test run confirming the ability to generate 120-150 million annual gallons of SAF and approximately 100 million gallons of post-expansion volumes already placed through contracts.
- Operating costs were reduced by $24 million compared to Q3 last year, contributing to a $60 million year-to-date reduction.
Nov 7, 2025, 2:00 PM
Quarterly earnings call transcripts for Calumet, Inc. /DE.
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