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. 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.
Royal Purple has launched a new branding campaign titled No Matter What Drives You, aimed at expanding its reach in the premium synthetic motor oils market. The campaign leverages the brand's strong street reputation and aims to inspire engagement across various industries and consumers globally. With products used by sectors ranging from daily drivers to NASA, Royal Purple emphasizes its commitment to quality and performance. The company targets diverse audiences highlighting the versatility of its products, which enhance fuel economy and equipment longevity.
Royal Purple, based in Porter, Texas, has released a report highlighting that specific fuel system additives can save consumers and businesses 6-10% on fuel economy, particularly relevant as gasoline prices reach $5 per gallon. Shipping industries, spending up to 50% of budgets on fuel, stand to gain significantly. The company's additives are designed to improve engine performance by removing deposits, thus maximizing fuel efficiency. Independent tests indicate diesel engines can see up to 10% efficiency gains with Royal Purple Max-Tane, while gasoline engines can achieve up to 6.1% with Max-Clean.
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.