Calumet Reports Fourth Quarter and Fiscal Year 2024 Results

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[{"type":"text","content":"Fourth quarter 2024 net loss of $40.7 million, or basic loss per common share of $0.47 per shareFourth quarter 2024 Adjusted EBITDA of $56.6 millionAnnounces sale of Royal Purple® industrial business for $110 millionMontana Renewables received initial funds from U.S. Department of Energy (\"DOE\") loan in February 2025Specialties business posts record sales volume and cost improvement in 2024INDIANAPOLIS, Feb. 28, 2025 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) today reported results of Calumet, Inc. (the \"Company,\" \"Calumet,\" \"we,\" \"our\" or \"us\") for the fourth quarter ended December 31, 2024, as follows:\n\nThree Months Ended December 31, \nYear Ended December 31, \n2024\n2023\n2024\n2023\n(Dollars in millions, except per share/unit data)\nNet income (loss)\n$\n(40.7)\n$\n(48.0)\n$\n(222.0)\n$\n48.1\nBasic earnings (loss) per common share/unit\n$\n(0.47)\n$\n(0.59)\n$\n(2.67)\n$\n0.59\nAdjusted EBITDA\n$\n56.6\n$\n39.7\n$\n194.8\n$\n260.5\n \nSpecialty Products and Solutions\nPerformance Brands\nMontana/Renewables\nThree Months Ended December 31, \nThree Months Ended December 31, \nThree Months Ended December 31, \n2024\n2023\n2024\n2023\n2024\n2023\n(Dollars in millions, except per barrel data)\nGross profit (loss)\n$\n62.3\n$\n88.1\n$\n25.2\n$\n16.1\n$\n(3.9)\n$\n(82.1)\nAdjusted gross profit (loss)\n$\n50.6\n$\n69.6\n$\n25.7\n$\n16.5\n$\n19.1\n$\n(19.3)\nAdjusted EBITDA\n$\n43.4\n$\n75.6\n$\n16.3\n$\n6.1\n$\n10.9\n$\n(25.8)\nGross profit (loss) per barrel\n$\n11.00\n$\n16.11\n$\n170.27\n$\n135.29\n$\n(1.87)\n$\n(45.76)\nAdjusted gross profit (loss) per barrel\n$\n8.93\n$\n12.73\n$\n173.65\n$\n138.66\n$\n9.15\n$\n(10.76)\n \nSpecialty Products and Solutions\nPerformance Brands\nMontana/Renewables\nYear Ended December 31, \nYear Ended December 31, \nYear Ended December 31, \n2024\n2023\n2024\n2023\n2024\n2023\n(Dollars in millions, except per barrel data)\nGross profit (loss)\n$\n189.0\n$\n402.2\n$\n95.3\n$\n82.1\n$\n(53.5)\n$\n(32.6)\nAdjusted gross profit\n$\n214.5\n$\n291.0\n$\n98.6\n$\n78.5\n$\n51.9\n$\n59.8\nAdjusted EBITDA\n$\n193.6\n$\n251.2\n$\n57.4\n$\n47.9\n$\n16.7\n$\n30.2\nGross profit (loss) per barrel\n$\n8.26\n$\n18.73\n$\n152.24\n$\n160.35\n$\n(6.14)\n$\n(4.56)\nAdjusted gross profit per barrel\n$\n9.38\n$\n13.56\n$\n157.51\n$\n153.32\n$\n5.95\n$\n8.36\n\"The past twelve months of strategic activit...

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