The earnings call reflected a mix of strong operational execution and cost management, particularly in specialty products and Montana/Renewables, but was tempered by challenges in the renewable diesel market due to low margins and regulatory uncertainties.

Company Guidance

During Calumet Inc.'s Second Quarter 2025 Conference Call, significant performance metrics were highlighted. The company reported $76.5 million in adjusted EBITDA with tax attributes for the quarter. Montana/Renewables contributed $8.3 million to this total, evidencing resilience despite facing the lowest quarterly index margin to date in the renewable diesel industry. Specialty sales volume within the SPS segment continued strong, marking the third consecutive quarter with sales exceeding 20,000 barrels per day, while performance brands posted their second-highest quarterly sales volume. Operational improvements led to a $42 million reduction in operating costs in the first half of 2025, despite a $7 million increase in natural gas and electricity costs. The company also made strides in deleveraging, announcing a refresh of Shreveport terminal assets financing, which added $80 million in new cash, allowing for $230 million of 2026 notes to be called this year. Looking ahead, Calumet remains focused on strategic progress with their MaxSAF 150 project, aiming for a capital cost of $20 million to $30 million to produce 120 million to 150 million gallons of SAF annually by the first half of 2026.

Adjusted EBITDA Achievement

Calumet earned $76.5 million of adjusted EBITDA with tax attributes during the second quarter, with significant contributions from specialty products and Montana/Renewables.

Operational Cost Reductions

Operating costs were reduced by $42 million in the first half of 2025 compared to the previous year, despite an increase in natural gas and electricity costs.

Successful Cost Management in Montana/Renewables

Montana/Renewables generated $8.3 million of adjusted EBITDA with tax attributes, reflecting cost leadership and operational efficiency.

Strong Specialty Products Performance

Specialty margins remained resilient despite challenges, with sales volume exceeding 20,000 barrels per day for the third consecutive quarter.

Renewable Diesel Market Competitiveness

Montana/Renewables demonstrated feed flexibility, strong SAF position, and competitive costs, achieving the highest throughput volumes yet.

Calumet Specialty Products (CLMT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

CLMT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 07, 2025	2025 (Q3)	-0.37 / -	-1.18	―	―	―
Aug 08, 2025	2025 (Q2)	-0.34 / -1.70	-0.48	-254.17% (-1.22)
May 09, 2025	2025 (Q1)	-0.51 / -1.87	-0.51	-266.67% (-1.36)
Feb 28, 2025	2024 (Q4)	-0.73 / -0.47	-0.59	20.34% (+0.12)
Nov 08, 2024	2024 (Q3)	-0.60 / -1.18	1.26	-193.65% (-2.44)
Aug 09, 2024	2024 (Q2)	-0.55 / -0.48	-0.23	-108.70% (-0.25)
May 10, 2024	2024 (Q1)	-0.82 / -0.51	0.35	-245.71% (-0.86)
Feb 23, 2024	2023 (Q4)	-0.19 / -0.59	-0.86	31.40% (+0.27)
Nov 09, 2023	2023 (Q3)	0.07 / 1.26	0.19	563.16% (+1.07)
Aug 04, 2023	2023 (Q2)	-0.02 / -0.23	-0.19	-21.05% (-0.04)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CLMT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 08, 2025	$14.91	$14.37	-3.62%
May 09, 2025	$11.87	$12.32	+3.79%
Feb 28, 2025	$14.98	$14.33	-4.34%
Nov 08, 2024	$20.26	$22.24	+9.77%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Calumet Specialty Products (CLMT) report earnings?

Calumet Specialty Products (CLMT) is schdueled to report earning on Nov 07, 2025, Before Open (Confirmed).

What is Calumet Specialty Products (CLMT) earnings time?

Calumet Specialty Products (CLMT) earnings time is at Nov 07, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is CLMT EPS forecast?

CLMT EPS forecast for the fiscal quarter 2025 (Q3) is -0.37.

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