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Calumet, Inc. - CLMT STOCK NEWS

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.

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) is a premier independent producer of specialty hydrocarbon products. Based in Indianapolis, Indiana, Calumet operates through four primary segments: Specialty Products and Solutions, Montana/Renewables, Performance Brands, and Corporate. These segments enable Calumet to deliver a diverse suite of products, including lubricating oils, solvents, waxes, food-grade white oils, pharmaceutical-grade petrolatums, asphalt, and heavy fuel oils, as well as a variety of renewable fuel products.

The Specialty Products and Solutions segment is the cornerstone of Calumet's business, generating the majority of the company's revenue. This segment focuses on providing customer-tailored solutions and formulations, leveraging a highly integrated production complex located in Northwest Louisiana.

The Montana/Renewables segment, operated by Montana Renewables, LLC, is a leader in North America's energy transition. This segment is noted for its production of low-emission sustainable alternatives, including Sustainable Aviation Fuel (SAF). Located in Great Falls, Montana, the facility processes up to 15,000 barrels of renewable feedstock per day, making it the largest SAF producer in the western hemisphere.

The Performance Brands segment specializes in high-performance consumer products and brands, contributing significantly to Calumet's market presence and financial success.

Recent Achievements:

  • In January 2024, Calumet announced two major financing updates, simplifying its inventory and working capital management through a new Supply and Offtake Agreement with J. Aron and an expanded Asset-Backed Loan facility.
  • In February 2024, Calumet signed a Conversion Agreement to transition from a Master Limited Partnership (MLP) to a C-Corp, aiming to broaden investor participation and enhance shareholder value.
  • In April 2024, the company resumed production at its Montana Renewables facility, achieving significant operational milestones and positioning itself for robust future performance.

Calumet's strong focus on renewable energy, strategic financial management, and robust operational capabilities position it as a key player in the specialty products market. As the company progresses through 2024, it anticipates several catalysts that could further enhance shareholder value and operational efficiency.

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Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) announced a donation of 25 color printers to Queensborough Elementary School and Fair Park Middle School in Shreveport, La. The initiative aims to support local education, responding to requests from teachers for essential classroom equipment. Billy McClain, Plant Manager, emphasized the company's commitment to community enhancement, reflected in its outreach efforts over 99 years. Calumet continues to engage with local schools and first responders, having recently raised $17,000 for first responders during a golf tournament.

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Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) will report its fiscal third quarter 2022 results on November 9, 2022. A conference call to discuss these results is also scheduled for the same day at 9:00 AM ET. Investors and analysts can participate via a live webcast or dial-in. The replay will be available shortly after the call on the company's investor relations website. Calumet, headquartered in Indianapolis, Indiana, manufactures a diverse range of specialty products across North America.

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Royal Purple, a leader in synthetic oils, announced its participation in the SEMA and AAPEX shows in Las Vegas from November 1-4, 2022. The company will unveil new products aimed at enhancing vehicle performance, including the Max-Restore High-Mileage Fuel Treatment and Max ATF. A highlight will be the Project Freedom custom car, a bespoke 2021 Ford Mustang GT California Special, showcasing innovative performance solutions. The unveiling will occur on November 1 at 12:30 p.m. at SEMA. Royal Purple aims to address challenges in vehicle maintenance and performance, emphasizing sustainability and technological advancements.

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Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) announced the availability of its 2021 Schedule K-3, essential for unitholders with international tax relevance. Unitholders can access their Schedules K-3 online at taxpackagesupport.com/calumet or via the investor relations section on calumetspecialty.com. This document is crucial for certain unitholders, particularly foreign investors and those needing it for tax credit calculations. For electronic copies, unitholders may contact Tax Package Support at 800-203-4784.

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Calumet Specialty Products Partners reported a net loss of $15.3 million for Q2 2022, improving from a loss of $78.4 million a year earlier. The Adjusted EBITDA was $175.8 million, significantly up from $32.3 million in Q2 2021. The company completed financing for Montana Renewables, establishing its enterprise value at $2.25 billion. Key segments showed strong performance with Specialty Products and Solutions segment achieving Adjusted EBITDA of $123.5 million, aided by increased production and higher fuel margins. Production volumes across various segments saw significant year-over-year growth.

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Calumet Specialty Products Partners (NASDAQ: CLMT) announced significant investments in its subsidiary Montana Renewables LLC (MRL) valued at $2.25 billion. Warburg Pincus will invest $250 million through preferred equity, and Stonebriar Commercial Finance will add $350 million via sale and leaseback agreements. MRL aims to produce low-emission fuels like Renewable Diesel and Sustainable Aviation Fuel, enhancing its capacity to 18,000 barrels per day by 2024-25. The aggregate transactions improve MRL's liquidity to approximately $300 million.

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Royal Purple has launched a new branding campaign titled No Matter What Drives You, aimed at expanding its reach in the premium synthetic motor oils market. The campaign leverages the brand's strong street reputation and aims to inspire engagement across various industries and consumers globally. With products used by sectors ranging from daily drivers to NASA, Royal Purple emphasizes its commitment to quality and performance. The company targets diverse audiences highlighting the versatility of its products, which enhance fuel economy and equipment longevity.

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Royal Purple, based in Porter, Texas, has released a report highlighting that specific fuel system additives can save consumers and businesses 6-10% on fuel economy, particularly relevant as gasoline prices reach $5 per gallon. Shipping industries, spending up to 50% of budgets on fuel, stand to gain significantly. The company's additives are designed to improve engine performance by removing deposits, thus maximizing fuel efficiency. Independent tests indicate diesel engines can see up to 10% efficiency gains with Royal Purple Max-Tane, while gasoline engines can achieve up to 6.1% with Max-Clean.

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Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) announced it will report its second quarter 2022 results on August 5, 2022. A conference call discussing these results is scheduled for 9:00 AM ET on the same day. Investors, analysts, and media can access the live webcast and presentation materials through the company's investor relations site. A replay will be available shortly after the call. Calumet manufactures and markets a variety of specialty products across multiple consumer and industrial sectors from its twelve facilities in North America.

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Calumet Specialty Products Partners (CLMT) reported a net loss of $95.5 million, or $(1.18) per unit, for Q1 2022, an improvement from a loss of $146.1 million in Q1 2021. Adjusted EBITDA rose to $23.3 million from a negative $5.4 million year-over-year. The specialty products division showed strong momentum, achieving $28.1 million in Adjusted EBITDA, while Performance Brands experienced a decline to $5.3 million. The renewable diesel segment is expanding with significant feedstock volumes secured. The company anticipates improved cash flow, supporting its deleveraging goals.

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FAQ

What is the current stock price of Calumet (CLMT)?

The current stock price of Calumet (CLMT) is $20.39 as of December 20, 2024.

What is the market cap of Calumet (CLMT)?

The market cap of Calumet (CLMT) is approximately 1.8B.

What does Calumet Specialty Products Partners, L.P. produce?

Calumet produces specialty products including lubricating oils, solvents, waxes, food-grade white oils, pharmaceutical-grade petrolatums, asphalt, heavy fuel oils, and renewable fuels.

Where is Calumet Specialty Products Partners, L.P. headquartered?

Calumet is headquartered at 2780 Waterfront Parkway East Drive, Indianapolis, Indiana, United States.

What are the main segments of Calumet's business?

Calumet operates through four segments: Specialty Products and Solutions, Montana/Renewables, Performance Brands, and Corporate.

What recent financial updates has Calumet announced?

In January 2024, Calumet announced new financing updates including a new Supply and Offtake Agreement with J. Aron and an expanded Asset-Backed Loan facility.

What is Montana Renewables' role in Calumet's operations?

Montana Renewables, a subsidiary of Calumet, is a leader in producing low-emission sustainable alternatives like Sustainable Aviation Fuel (SAF) and operates the largest SAF facility in the western hemisphere.

What is the significance of Calumet's transition to a C-Corp?

Calumet’s transition to a C-Corp is expected to broaden investor participation and create meaningful shareholder value.

How many facilities does Calumet operate?

Calumet operates twelve facilities across North America.

What are some of the recent achievements of Calumet?

Recent achievements include new financing agreements in January 2024, a conversion agreement to transition to a C-Corp in February 2024, and resuming production at Montana Renewables in April 2024.

What are Calumet's plans for the future?

Calumet plans to complete its C-Corp transition, enhance shareholder value through strategic initiatives, and expand its renewable fuel production capabilities.

How can investors participate in Calumet's upcoming conference calls?

Investors can join Calumet's conference calls via webcast with presentation slides available on the company’s website or dial in using the provided toll-free and international numbers.

Calumet, Inc.

Nasdaq:CLMT

CLMT Rankings

CLMT Stock Data

1.77B
67.66M
21.24%
37.37%
6%
Oil & Gas E&P
Petroleum Refining
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United States of America
INDIANAPOLIS