Welcome to our dedicated page for Calumet news (Ticker: CLMT), a resource for investors and traders seeking the latest updates and insights on Calumet stock.
About Calumet, Inc. (NASDAQ: CLMT)
Calumet, Inc., headquartered in Indianapolis, Indiana, is a diversified producer and marketer of specialty branded products and renewable fuels. Operating through twelve facilities across North America, Calumet serves a broad range of industrial and consumer-facing markets. The company’s core business segments include Specialty Products and Solutions (SPS), Performance Brands (PB), and Montana Renewables (MR), each contributing to its reputation as a trusted name in the specialty and renewable energy sectors.
Specialty Products and Solutions
Calumet’s Specialty Products and Solutions segment focuses on the production of high-performance specialty oils, solvents, esters, waxes, and asphalt products. These products cater to industrial applications such as manufacturing, automotive, and construction, delivering precise formulations that meet unique customer specifications. This segment underscores Calumet’s commitment to innovation and quality, leveraging its advanced manufacturing processes to maintain a competitive edge in the specialty chemicals market.
Performance Brands
The Performance Brands segment includes premium consumer-facing products, such as automotive lubricants and high-performance motor oils. Notable brands like Royal Purple® exemplify Calumet’s ability to connect with end-users through retail and specialty distribution channels. By retaining the consumer portion of Royal Purple while divesting its industrial segment, Calumet has streamlined its focus on high-growth, consumer-driven markets.
Montana Renewables: A Leader in Sustainable Fuels
Through its unrestricted subsidiary, Montana Renewables, LLC (MRL), Calumet has emerged as a leader in the production of renewable fuels, including Sustainable Aviation Fuel (SAF), Renewable Diesel (RD), and Renewable Hydrogen. Positioned as North America’s largest SAF producer, MRL utilizes low-carbon feedstocks such as camelina oil, tallow, and used cooking oil to create environmentally sustainable transportation fuels. The ongoing expansion of MRL’s Great Falls facility, supported by a $1.44 billion loan guarantee from the U.S. Department of Energy, underscores Calumet’s commitment to driving innovation in the renewable energy sector.
Strategic Initiatives and Market Position
Calumet has undertaken significant strategic initiatives to strengthen its market position. The company’s recent conversion from a Master Limited Partnership (MLP) to a C-Corporation reflects its focus on enhancing shareholder value and operational efficiency. Additionally, the divestiture of non-core assets, such as the industrial portion of Royal Purple, enables Calumet to prioritize high-margin, growth-oriented segments. These efforts, combined with its focus on deleveraging and expanding renewable fuel capacity, position Calumet as a forward-thinking player in the specialty and renewable markets.
Challenges and Competitive Landscape
Operating in a highly competitive industry, Calumet faces challenges such as fluctuating crude oil prices, regulatory pressures, and the need for continuous innovation. However, its diversified portfolio, strategic investments, and focus on sustainability provide a robust foundation to navigate these challenges. By leveraging its expertise in specialty formulations and renewable energy, Calumet differentiates itself from competitors and aligns with evolving market demands.
Commitment to Sustainability and Innovation
Calumet’s dedication to sustainability is evident in its investment in renewable energy technologies and its role in decarbonizing the transportation sector. The company’s production of SAF and other renewable fuels not only supports environmental goals but also creates economic opportunities for regional agriculture and energy sectors. This dual focus on innovation and sustainability reinforces Calumet’s position as a responsible and forward-looking industry leader.
Conclusion
Calumet, Inc. exemplifies a company that combines industrial expertise with a commitment to sustainability and innovation. By strategically aligning its operations with market trends and environmental priorities, Calumet continues to deliver value to its customers, shareholders, and communities.
Calumet (NASDAQ: CLMT) has completed the sale of its Royal Purple® industrial business assets to Lubrication Engineers, Inc., a portfolio company of Aurora Capital Partners, for $110 million in cash. The sold assets include industrial gear lubricants, bio-environmental lubricants, and various industrial oils, along with an exclusive brand license for industrial applications.
The divested industrial segment generated approximately $29 million in total sales during 2024. Calumet retained ownership of the Porter, Texas manufacturing site and the consumer portion of Royal Purple®, which focuses on automotive products sold through national retail and specialty auto parts stores. The company plans to use the proceeds primarily for debt reduction.
Additionally, Calumet announced the termination of its at-the-market (ATM) equity offering program, which was announced in January 2025 but was never utilized.
Calumet (NASDAQ: CLMT) has announced plans to nominate Julio Quintana and Karen Narwold to its Board of Directors at the 2025 Annual Meeting of Stockholders. This announcement comes as current board members Jim Carter and Dan Sheets plan to retire following the completion of their terms.
The board transition follows several key achievements, including the company's successful conversion from a master partnership to a C-, the establishment of Montana Renewables, and securing a $1.4 billion Department of Energy loan. The company has also revamped its Specialties business to enhance cash flow generation.
The nominations, supported by Wasserstein Debt Opportunities (WDO), align with Calumet's strategic priorities focusing on deleveraging, cash flow growth, accretive asset monetization, and expanding Montana Renewables into a leading global producer of sustainable aviation fuel.
Calumet (NASDAQ: CLMT) has announced its participation in the Wolfe Research Refining Conference scheduled for March 6, 2025, in New York. The company will conduct one-on-one meetings with investors throughout the conference day.
Calumet, headquartered in Indianapolis, Indiana, specializes in manufacturing, formulating, and marketing specialty branded products and renewable fuels. The company serves various consumer-facing and industrial markets through its twelve facilities across North America.
Lubrication Engineers (LE) has announced a definitive agreement to acquire the industrial brands and products division of Royal Purple (RPI) from Calumet (NASDAQ: CLMT). The deal will make LE the exclusive manufacturer and seller of Royal Purple®-branded industrial products, while Calumet retains ownership of Royal Purple's consumer division and manufacturing assets.
RPI specializes in premium synthetic performance fluids, lubricants, and greases for industrial applications, including gear oils, bio-environmental lubricants, industrial engine oils, hydraulic lubricants, and compressor oils. The company serves various sectors including manufacturing, power generation, petrochemicals, energy, and marine industries.
This marks LE's first acquisition since partnering with Aurora Capital Partners in September 2023. The transaction is expected to close in the first half of 2025, subject to customary closing conditions.
Calumet (NASDAQ: CLMT) reported a Q4 2024 net loss of $40.7 million ($0.47 per share) with Adjusted EBITDA of $56.6 million. The company announced the sale of its Royal Purple® industrial business for $110 million, while retaining the consumer portion.
Key Q4 2024 segment performance:
- Specialty Products: EBITDA $43.4M (vs $75.6M in Q4 2023)
- Performance Brands: EBITDA $16.3M (vs $6.1M in Q4 2023), with 15% volume growth
- Montana/Renewables: EBITDA $10.9M (vs -$25.8M in Q4 2023)
Montana Renewables received its first drawdown of $782M from a $1.44B DOE loan facility in February 2025. The expansion will increase production capacity to 300M gallons of Sustainable Aviation Fuel and 330M gallons of combined SAF and renewable diesel, with half of SAF capability online by 2026.
Calumet (NASDAQ: CLMT) announced a definitive agreement with a subsidiary of Lubrication Engineers, Inc., to sell assets related to the industrial portion of its Royal Purple® business for $110 million. Calumet will retain and continue to grow the consumer portion of the Royal Purple business and the production facility in Porter, TX. The transaction includes industrial gear lubricants, bio-environmental lubricants, stationary natural gas engine oils, hydraulic lubricants, and compressor oils, along with an exclusive license of the brand for industrial applications. In 2024, Royal Purple's industrial business generated approximately $29 million in sales. Proceeds from the sale will be used primarily to pay down debt. The transaction is expected to close in the first half of 2025, subject to customary closing conditions.
Calumet's CEO, Todd Borgmann, emphasized that the deal aligns with the company's strategy to deleverage its balance sheet. Moelis & Company acted as exclusive financial advisor, and Faegre Drinker served as M&A counsel.
Calumet (NASDAQ: CLMT) has announced its participation in the Raymond James Institutional Investors Conference scheduled for March 4, 2025, in Orlando, Florida. The company will conduct one-on-one investor meetings throughout the conference day.
Calumet is an Indianapolis-based manufacturer that specializes in producing and marketing specialty branded products and renewable fuels. The company serves various consumer-facing and industrial markets through its twelve North American facilities.
Calumet (NASDAQ: CLMT) announced that Montana Renewables (MRL), its unrestricted subsidiary, has received its first drawdown of $782 million from a $1.44 billion DOE guaranteed loan facility. The loan will fund the construction and expansion of MRL's renewable fuels facility, positioning it as one of the largest global Sustainable Aviation Fuel (SAF) producers.
The expansion will increase annual production capacity to approximately 300 million gallons of SAF and 330 million gallons of combined SAF and renewable diesel. The project includes several modular components, with a second renewable fuels reactor enabling half of the SAF capability to be online by 2026.
The loan is structured in two tranches: the first $782 million tranche was released for previously incurred expenses, accompanied by Calumet's $150 million equity investment. The second tranche of approximately $658 million will be disbursed during construction from 2025 through 2028. The 15-year loan carries an interest rate of U.S. Treasury rate plus 3/8%, with principal and interest payments deferred until project completion.
Calumet (NASDAQ: CLMT) has announced it will release its Fourth Quarter and Fiscal Year 2024 financial results on February 28, 2025. The company will host a conference call at 9:00 AM ET on the same day to discuss the results.
Interested parties can access the presentation through a webcast available on Calumet's investor relations website. Alternatively, participants can dial in toll-free at 1-844-695-5524 (US) or 1-412-317-0700 (International) after pre-registering for the call. A replay will be available on the company's website shortly after the event.
Calumet (NASDAQ: CLMT) announced a temporary delay in receiving the first tranche of approximately $782 million from the Department of Energy (DOE) loan facility for its Montana Renewables subsidiary. The delay, expected to last days or weeks, is intended to confirm alignment with White House priorities. The loan facility, which closed on January 10, will fund the construction and expansion of the renewable fuels facility in Great Falls, Montana.
According to an economic impact study by the University of Montana, the Great Falls site is projected to support a population of 4,400 Montanans by 2028. The expansion is expected to create 450 construction jobs and up to 40 operations jobs, while fostering regional development in renewable feedstocks and establishing a large-scale SAF industry in Montana and the Pacific Northwest.
FAQ
What is the current stock price of Calumet (CLMT)?
What is the market cap of Calumet (CLMT)?
What does Calumet, Inc. specialize in?
What is Montana Renewables, LLC?
How is Calumet contributing to sustainability?
What are Calumet’s key business segments?
Why did Calumet convert to a C-Corporation?
What is the significance of the DOE loan for Calumet?
What products does Calumet’s Performance Brands segment include?
How does Calumet address market challenges?
What are Calumet’s growth priorities?
What industries does Calumet serve?
