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.
Calumet, Inc. (NASDAQ: CLMT) has announced its plans to release second quarter 2024 earnings on August 9, 2024. The company will host a conference call and webcast on the same day at 9:00 AM ET to discuss financial and operational results. Investors, analysts, and media representatives can join the webcast through a link available on Calumet's investor relations website. For those preferring to dial in, pre-registration is available, or participants can use the toll-free numbers provided. A replay of the conference call will be accessible on the company's website shortly after the event.
Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) announced the completion of its conversion from a master partnership (MLP) to a C-, now named Calumet, Inc.
Unitholders approved the change on July 9, 2024, and each of the 80,388,555 common units was exchanged for one share of the new common stock. Additionally, New Calumet issued 5,500,000 new shares and 2,000,000 warrants to buy shares at $20 each.
The new common stock will begin trading on Nasdaq on July 11, 2024, retaining the ticker symbol 'CLMT'.
This transition is expected to broaden Calumet's shareholder base by allowing institutional investors and passive indices, who previously could not invest in MLPs, to participate.
Calumet Specialty Products Partners (NASDAQ: CLMT) announced that its unitholders have voted to approve the conversion from a Master Partnership (MLP) to a C- This conversion received overwhelming support with 99.6% of votes cast in favor. Upon closing, unitholders will become shareholders of Calumet Inc. The conversion is expected to complete on July 10, 2024, and the new entity's stock will begin trading on Nasdaq under the ticker symbol 'CLMT' on July 11, 2024.
All other proposals at the special meeting held on July 9, 2024, were also approved. The results will be filed with the SEC on Form 8-K. CEO Todd Borgmann expressed gratitude to the leadership and unitholders for their support and emphasized the company's focus on driving shareholder value in the future.
Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) has scheduled a special meeting on July 9, 2024, for unitholders to vote on converting the company from a master partnership to a Delaware The board unanimously recommends voting in favor of the conversion. Only unitholders of record as of May 24, 2024, can vote. The meeting will be held at the Courtyard by Marriott Indianapolis West-Speedway. If approved, the conversion will finalize shortly after, contingent on meeting all conditions.
Calumet Specialty Products Partners (NASDAQ: CLMT) has announced its participation in TD Cowen's 2nd Annual Sustainability Week, scheduled for May 22, 2024. The company will engage in a fireside chat and hold one-on-one investor meetings throughout the day at this virtual conference.
Calumet Specialty Products Partners, L.P. reported a net loss of $41.6 million in the first quarter of 2024 with Adjusted EBITDA of $21.6 million. The conversion to a C-Corp is on track, Montana Renewables showed improvement, and Shreveport turnaround was successful. The company issued $200 million in Senior Secured First Lien Notes due 2029, used to redeem existing notes. Segments like Specialty Products and Solutions, Performance Brands, and Montana/Renewables had varying financial performance compared to the previous year. The company is preparing for a strategic spring and summer with a focus on renewable fuels and DOE loan progress.
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