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 petroleum refineries industry company that manufactures, formulates and markets specialty branded products and renewable fuels. Headquartered in Indianapolis, Indiana, Calumet operates twelve facilities across North America and serves a broad mix of consumer-facing and industrial markets. Its news flow reflects both its specialty products focus and its role in renewable fuels through the Montana/Renewables segment.
News about Calumet often highlights capital markets and financing activities. Recent releases describe private placements of senior notes through its subsidiaries Calumet Specialty Products Partners, L.P. and Calumet Finance Corp., including an upsized offering of 9.75% Senior Notes due 2031. The company has explained that it intends to use net proceeds from these offerings, along with cash on hand and borrowings under its revolving credit facility, to redeem outstanding senior notes due 2026 and 2027. These announcements provide insight into how Calumet manages its debt maturities and capital structure.
Operational and financial updates are another key component of Calumet’s news. The company has issued preliminary selected financial results, including ranges for net loss and Adjusted EBITDA with Tax Attributes, and has discussed factors such as cost improvements, crude supply chain efficiencies, divestitures and production changes. Calumet also explains its use of non-GAAP measures like Adjusted EBITDA and Adjusted EBITDA with Tax Attributes, which are tied to definitions used in its debt instruments and revolving credit facility.
Regulatory and governance-related items appear in Calumet’s news through references to Form 8-K filings. For example, the company has reported quarterly results of operations and disclosed that certain interim financial statements required restatement due to a cash flow classification error, along with a related material weakness in internal controls. These updates help investors track changes in financial reporting and control environments.
Calumet’s participation in conferences is a recurring news theme. The company has announced attendance at events such as the UBS Global Energy & Utilities Winter Conference, Goldman Sachs Energy, Clean Tech and Utilities Conference, Wells Fargo Annual Energy & Power Symposium, Bank of America Leveraged Finance Conference, Bank of America Global Energy Conference and T.D. Cowen Energy Conference. These releases typically note that Calumet will hold one-on-one investor meetings, signaling ongoing engagement with institutional investors and analysts.
Investors following CLMT news can use this page to monitor developments related to senior note offerings and redemptions, preliminary financial results, non-GAAP performance metrics, internal control disclosures, and investor conference participation. Returning to this feed allows readers to see how Calumet communicates its specialty products and renewable fuels strategy, capital structure decisions and financial reporting updates over time.
Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) announced it will report its second quarter 2022 results on August 5, 2022. A conference call discussing these results is scheduled for 9:00 AM ET on the same day. Investors, analysts, and media can access the live webcast and presentation materials through the company's investor relations site. A replay will be available shortly after the call. Calumet manufactures and markets a variety of specialty products across multiple consumer and industrial sectors from its twelve facilities in North America.
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.