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) announced a donation of 25 color printers to Queensborough Elementary School and Fair Park Middle School in Shreveport, La. The initiative aims to support local education, responding to requests from teachers for essential classroom equipment. Billy McClain, Plant Manager, emphasized the company's commitment to community enhancement, reflected in its outreach efforts over 99 years. Calumet continues to engage with local schools and first responders, having recently raised $17,000 for first responders during a golf tournament.
Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) will report its fiscal third quarter 2022 results on November 9, 2022. A conference call to discuss these results is also scheduled for the same day at 9:00 AM ET. Investors and analysts can participate via a live webcast or dial-in. The replay will be available shortly after the call on the company's investor relations website. Calumet, headquartered in Indianapolis, Indiana, manufactures a diverse range of specialty products across North America.
Royal Purple, a leader in synthetic oils, announced its participation in the SEMA and AAPEX shows in Las Vegas from November 1-4, 2022. The company will unveil new products aimed at enhancing vehicle performance, including the Max-Restore High-Mileage Fuel Treatment and Max ATF. A highlight will be the Project Freedom custom car, a bespoke 2021 Ford Mustang GT California Special, showcasing innovative performance solutions. The unveiling will occur on November 1 at 12:30 p.m. at SEMA. Royal Purple aims to address challenges in vehicle maintenance and performance, emphasizing sustainability and technological advancements.
Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) announced the availability of its 2021 Schedule K-3, essential for unitholders with international tax relevance. Unitholders can access their Schedules K-3 online at taxpackagesupport.com/calumet or via the investor relations section on calumetspecialty.com. This document is crucial for certain unitholders, particularly foreign investors and those needing it for tax credit calculations. For electronic copies, unitholders may contact Tax Package Support at 800-203-4784.
Calumet Specialty Products Partners reported a net loss of $15.3 million for Q2 2022, improving from a loss of $78.4 million a year earlier. The Adjusted EBITDA was $175.8 million, significantly up from $32.3 million in Q2 2021. The company completed financing for Montana Renewables, establishing its enterprise value at $2.25 billion. Key segments showed strong performance with Specialty Products and Solutions segment achieving Adjusted EBITDA of $123.5 million, aided by increased production and higher fuel margins. Production volumes across various segments saw significant year-over-year growth.
Calumet Specialty Products Partners (NASDAQ: CLMT) announced significant investments in its subsidiary Montana Renewables LLC (MRL) valued at $2.25 billion. Warburg Pincus will invest $250 million through preferred equity, and Stonebriar Commercial Finance will add $350 million via sale and leaseback agreements. MRL aims to produce low-emission fuels like Renewable Diesel and Sustainable Aviation Fuel, enhancing its capacity to 18,000 barrels per day by 2024-25. The aggregate transactions improve MRL's liquidity to approximately $300 million.
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.