Business
Calumet Reports First Quarter 2025 Results
First quarter 2025 net loss of $162.0 million, or basic loss per common share of $1.87 per shareFirst quarter 2025 Adjusted EBITDA with Tax Attributes of
About this update from Calumet, Inc
[{"type":"text","content":"First quarter 2025 net loss of $162.0 million, or basic loss per common share of $1.87 per shareFirst quarter 2025 Adjusted EBITDA with Tax Attributes of $55.0 million, reflecting a $30.4 million adjustment for RINs incurrence expense and $16.9 million from the Production Tax Credit (\"PTC\")Montana Renewables expects to reach 120 to 150-million-gallon SAF capacity sooner than previously reported for a fraction of the cost Montana Renewables received $782 million funding of Department of Energy (\"DOE\") loan in February 2025, closed sale of Royal Purple® industrial business for $110 million in March 2025, and launches partial redemption for $150 million of 2026 Notes Company-wide cost reduction plan on track with $22 million year over year reduction in operating costsConsolidated quarter ending liquidity of $542.7 millionINDIANAPOLIS, May 9, 2025 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) today reported results of Calumet, Inc. (the \"Company,\" \"Calumet,\" \"we,\" \"our\" or \"us\") for the first quarter ended March 31, 2025, as follows:\n\nThree Months Ended March 31, \n2025\n2024\nNet income (loss)\n$\n(162.0)\n$\n(41.6)\nBasic earnings (loss) per common share/unit\n$\n(1.87)\n$\n(0.51)\nAdjusted EBITDA\n$\n38.1\n$\n28.1\nAdjusted EBITDA with Tax Attributes\n$\n55.0\n$\n28.1\nSpecialty Products and Solutions\nPerformance Brands\nMontana/Renewables\nThree Months Ended March 31, \nThree Months Ended March 31, \nThree Months Ended March 31, \n2025\n2024\n2025\n2024\n2025\n2024\n(Dollars in millions, except per barrel data)\nGross profit (loss)\n$\n(34.0)\n$\n85.3\n$\n22.2\n$\n22.3\n$\n(69.6)\n$\n(29.1)\nAdjusted gross profit (loss)\n$\n64.9\n$\n56.8\n$\n24.2\n$\n23.2\n$\n(8.2)\n$\n(4.9)\nAdjusted EBITDA\n$\n56.3\n$\n47.2\n$\n15.8\n$\n13.4\n$\n(13.6)\n$\n(13.4)\nAdjusted EBITDA with Tax Attributes\n$\n56.3\n$\n47.2\n$\n15.8\n$\n13.4\n$\n3.3\n$\n(13.4)\nGross profit (loss) per barrel\n$\n(6.33)\n$\n15.77\n$\n144.16\n$\n154.86\n$\n(32.03)\n$\n(14.16)\nAdjusted gross profit (loss) per barrel\n$\n12.08\n$\n10.50\n$\n157.14\n$\n161.11\n$\n(3.77)\n$\n(2.38)\n\"The first quarter of 2025 reflected significant progress on multiple strategic fronts,\" said Todd Borgmann, CEO. \"Most importantly, we closed – and received funding – of our DOE loan under the new administration setting the stage for transformational growth in our Renewable...