Calumet reports Q3 EPS $3.61 vs. ($1.18) last year

Reports Q3 revenue $1.08B, consensus $1.05B. “Calumet (CLMT) posted strong financial results and continued to achieve key strategic milestones during the third quarter,” said Todd Borgmann, CEO. “Our financial success again demonstrated the strength of Calumet’s integrated specialties business, and our continued cost discipline and operational progress has driven a $61M year-to-date reduction in operating costs versus last year. Strategically, the transformation of Montana Renewables is poised to accelerate in the coming year as we plan to bring our MaxSAF 150 expansion online in the Q2 of 2026, which will allow us to dramatically increase our SAF production versus today. With approximately 100M gallons of SAF fully contracted or in final review, our SAF marketing program is progressing ahead of schedule, and we expect to complete the contracting at strong premiums well before the expansion.”