Calumet Stock Price, News & Analysis

Calumet Specialty Products Partners (NASDAQ: CLMT) will participate in key industry events on December 1 and 2, 2021. The company is set to engage in one-on-one and group meetings with investors during the Cowen 2021 Energy Summit and the Bank of America Securities Leveraged Finance Conference. Notably, the fireside chat at the Cowen summit starts at 1:15 PM ET on December 1, followed by the Bank of America chat at 3:45 PM ET. For additional details, visit the company's Investor Relations page.

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) has announced important developments in its Renewable Diesel operation. The company has established Montana Renewables, LLC (MRL) as a separate subsidiary, receiving a $300 million convertible debt investment from Oaktree Capital and a $145 million preferred equity investment from Calumet. These moves aim to enhance MRL's renewable diesel production capabilities. Additionally, Calumet generated approximately $199 million in net cash and is actively reducing debt. This strategic reorganization positions Calumet favorably in the renewable energy sector.

Calumet Specialty Products Partners, L.P. (CLMT) reported its Q3 2021 results, achieving a net income of $51.5 million, a significant turnaround from a loss of $56.1 million in Q3 2020. The adjusted EBITDA reached $58.8 million, up from $34.7 million a year ago. Specialty Products and Solutions saw robust performance with adjusted EBITDA of $46.3 million, driven by record margins. However, supply chain issues affected the Performance Brands segment, limiting lubricant production capacity due to an additive shortage.

Univar Solutions B.V. announced an expanded distribution relationship with Calumet to distribute petrolatums and white oils across Europe, including the UK, France, Italy, and Spain. This partnership aims to enhance Univar's specialty oils portfolio, benefiting various sectors such as beauty, personal care, food processing, and pharmaceuticals. The collaboration is expected to improve product availability and customer solutions through a robust technical and sales support network. Both companies emphasize sustainability and continuous improvement in their operations to meet market demands.

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) will report its fiscal third quarter results on November 5, 2021. Investors can listen to the conference call at 10:00 AM ET, which will include a discussion on financial and operational results. A webcast with presentation slides will be available on the company’s website. Participants can also join by calling (866) 584-9671 and entering conference ID 8791503. A replay will be accessible shortly after the call.

On October 4, 2021, Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) announced its participation in Deutsche Bank's 29th Annual Leveraged Finance Conference on October 5 and 6. Senior management will deliver a webcast presentation on October 6 at 11:00 AM ET, providing an overview of the company's business. Interested listeners can register via the conference website. Presentation slides will be available on the investor relations page of the company's website.

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) will participate in the H.C. Wainwright 23rd Annual Global Investment Virtual Conference from September 13-15, 2021. Management will deliver a virtual presentation and engage in investor meetings during the event. Interested parties can access the presentation starting September 13 at 7 AM ET through www.hcwevents.com/annualconference. The presentation will also be available for 90 days post-event. Calumet is a leading manufacturer of specialty branded products with operations in North America.

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) hosted a ribbon-cutting ceremony on August 19, 2021, in Great Falls, Montana, to celebrate the first delivery of seed oil feedstock for renewable diesel production. The event emphasizes the ongoing energy transition project at the facility, which aims to convert part of the plant to produce renewable fuels. This initiative is significant for the local community and is expected to support the integration of farm and ranch operations in Montana. The project is slated for completion, with operations beginning in Q2 2022.

Calumet Specialty Products Partners (NASDAQ: CLMT) reported a net loss of $78.4 million for Q2 2021, compared to a net income of $3.6 million in Q2 2020. Adjusted EBITDA fell to $32.3 million from $57.0 million year-over-year. The Performance Brands segment faced production challenges, leading to a significant backlog due to supply chain disruptions. While demand remained strong, gross profits decreased across segments. The company continues to progress on its Renewable Diesel project, with expectations of production starting after a turnaround next April, supported by favorable regional market dynamics.