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, Inc. (NASDAQ: CLMT) is a leading producer of specialty hydrocarbon products and renewable fuels, serving industrial and consumer markets through its three core segments. This news hub provides investors and industry professionals with essential updates on the company’s operational developments, financial performance, and sustainability initiatives.
Access timely press releases and analysis covering CLMT’s specialty chemicals innovations, Montana Renewables’ sustainable aviation fuel production, and strategic business decisions. The curated collection includes earnings announcements, partnership updates, and progress reports on major projects like the DOE-supported renewable fuels expansion.
Key focus areas include advancements in low-carbon fuel technologies, market expansions for Performance Brands like Royal Purple®, and financial restructuring efforts. Regular updates ensure stakeholders stay informed about CLMT’s role in the energy transition and specialty manufacturing sectors.
Bookmark this page for direct access to verified Calumet news sources, featuring official communications and third-party analysis. Check back frequently for comprehensive coverage of developments impacting CLMT’s position in renewable energy and industrial markets.
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.
Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) will report its financial results for Q1 2022 on May 6, 2022. A conference call is scheduled for the same day at 9:00 AM ET to discuss the results. Interested parties can join the call via a webcast, accessible with presentation slides, or by phone. The company, based in Indianapolis, Indiana, produces specialty branded products across various markets, operating twelve facilities in North America.
Calumet Specialty Products Partners (CLMT) announced its Q4 2021 results, reporting a net loss of $87.1 million compared to $82.1 million in Q4 2020. The full-year net loss reached $260.1 million, up from $149.0 million in 2020. Adjusted EBITDA for Q4 was $24.6 million, a decline from $33.8 million in the previous year. The company raised $675 million in capital, enabling debt reduction and strategic initiatives for its Montana/Renewables (MRL) project. Despite challenges in the Performance Brands segment, a record sales backlog of $34 million was noted. Leadership changes are also set for May 2022.
Calumet Specialty Products Partners (NASDAQ: CLMT) announced the retirement of its co-founder and Chairman, Fred Fehsenfeld, effective May 1, 2022. Steve Mawer will transition from CEO to Executive Chairman, while Todd Borgmann, currently EVP & CFO, will become the new CEO. Vince Donargo, Chief Accounting Officer, will take on the role of EVP & CFO. The leadership team emphasizes continuity in the company's strategic direction despite this transition, with a focus on transforming Calumet into two best-of-breed businesses.
Calumet Specialty Products Partners (NASDAQ: CLMT) announced plans to report its fourth quarter and full year 2021 results on February 25, 2022. A conference call to discuss these results will be held on the same day at 9:00 AM ET. Investors and analysts can join the live webcast on Calumet's website, which will include presentation slides, or by dialing in at (866) 584-9671 with conference ID 2259825. A replay of the call will be accessible shortly thereafter on their investor relations page.
Calumet Specialty Products Partners (NASDAQ: CLMT) announced the successful closing of a $325 million offering of 2027 senior unsecured notes. The proceeds will be used to redeem all outstanding 7.75% Senior Notes due 2023. Additionally, Calumet secured a $300 million convertible term loan from Oaktree Capital for Montana Renewables and a $50 million investment from Stonebriar to support renewable hydrogen production. A $500 million revolving credit facility was also resized and extended, enhancing liquidity for upcoming capital needs.
Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) announced a successful private placement of $325 million in 8.125% Senior Notes due 2027, up from an initial offering of $300 million. The offering is set to close on January 20, 2022. Proceeds will fund the redemption of outstanding 7.75% Senior Notes due 2023. The new notes are being offered under Securities Act exemptions. Calumet specializes in manufacturing a diverse range of specialty products across North America.
Calumet Specialty Products Partners plans to offer $300 million in senior unsecured notes due 2027, according to a Jan. 12, 2022, announcement. The proceeds will be used to redeem all outstanding 7.75% senior notes due 2023. A conditional redemption notice for these 2023 notes has been issued, with a redemption date set for February 11, 2022, contingent on completing the new offering. The offering is not registered under the Securities Act and is targeted at qualified institutional buyers.
Calumet Specialty Products Partners provided a preliminary fourth quarter update, reporting a liquidity of approximately $333 million as of year-end 2021. Unplanned events are expected to reduce fourth quarter financial results by $20 million to $30 million, primarily due to downtime at the Montana facility and supply chain challenges in the Performance Brands segment. Despite these challenges, Calumet noted strong demand for its products and a record backlog of over $30 million. CEO Steve Mawer emphasized 2021 as a year of exceptional value creation, highlighting progress on renewable diesel projects.
Calumet Specialty Products Partners (NASDAQ: CLMT) has successfully closed $50 million in project financing from Stonebriar Commercial Finance for the construction of a renewable hydrogen plant in Great Falls, Montana. This facility aims to enhance production capabilities for Calumet's renewable diesel operations and is projected to commence operations in the fourth quarter of 2022. The initiative is a significant step towards increasing product output while reducing carbon intensity.
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