Calumet, Inc. reports developments across its specialty products, branded performance products and renewable fuels operations. The company manufactures, formulates and markets specialty branded products and renewable fuels for consumer-facing and industrial markets, with recurring updates tied to Specialty Products & Solutions, Montana Renewables and Performance Brands.
Company news commonly covers quarterly results, Adjusted EBITDA commentary, RINs and other environmental attributes, facility operations at Shreveport, Montana Renewables projects including MaxSAF®, and product activity such as TruFuel®. Other recurring items include senior-note and credit-facility actions, shareholder voting matters, board composition and investor-event participation.
Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) has scheduled a special meeting on July 9, 2024, for unitholders to vote on converting the company from a master partnership to a Delaware The board unanimously recommends voting in favor of the conversion. Only unitholders of record as of May 24, 2024, can vote. The meeting will be held at the Courtyard by Marriott Indianapolis West-Speedway. If approved, the conversion will finalize shortly after, contingent on meeting all conditions.
Calumet Specialty Products Partners (NASDAQ: CLMT) has announced its participation in TD Cowen's 2nd Annual Sustainability Week, scheduled for May 22, 2024. The company will engage in a fireside chat and hold one-on-one investor meetings throughout the day at this virtual conference.
Calumet Specialty Products Partners, L.P. reported a net loss of $41.6 million in the first quarter of 2024 with Adjusted EBITDA of $21.6 million. The conversion to a C-Corp is on track, Montana Renewables showed improvement, and Shreveport turnaround was successful. The company issued $200 million in Senior Secured First Lien Notes due 2029, used to redeem existing notes. Segments like Specialty Products and Solutions, Performance Brands, and Montana/Renewables had varying financial performance compared to the previous year. The company is preparing for a strategic spring and summer with a focus on renewable fuels and DOE loan progress.
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