Calumet Reports Third Quarter 2026 Results
Key Highlights
- ➤Q3 net income fell to $273.3 million from $313.4 million
- ➤Q3 Adjusted EBITDA with Tax Attributes rose to $347.2 million
- ➤Calumet retired approximately $265 million of debt since July
- ➤SPS Adjusted EBITDA surged to $248.1 million
- ➤Montana Renewables delivered record $80.4 million Adjusted EBITDA with Tax Attributes
Expert Statements
Todd Borgmann, CEO of Calumet, Inc.
“The third quarter was exceptional for Calumet, with both of our businesses delivering outstanding results and our deleveraging and growth strategy accelerating by years. Our performance reflects a strong market and years of deliberate positioning through our integrated specialties platform supported by advantaged domestic crude, a world-class renewables business, and a commercial and operational organization executing at an increasingly high level. We are converting this earnings power into lasting shareholder value, retiring over $265 million of high-cost debt in the past four months, reducing interest expense, and advancing a lower risk, highly capital-efficient MaxSAF((TM)) expansion. With momentum accelerating across both businesses, Calumet is extremely well-positioned to continue executing our strategy.”
* Third Quarter 2026 net income of $273.3 million, or basic earnings per common share of $2.91 * Third Quarter 2026 Adjusted EBITDA with Tax Attributes of $347.2 million * Accelerated deleveraging continues with approximately $265 million of debt retirement since July * $248.1 million of Specialty Products & Solutions Adjusted EBITDA driven by strong market environment for integrated specialties platform, lasting industry supply chain disruptions, and commercial execution * Montana Renewables delivers record earnings in first full quarter of operations since SET2 RVO; Adjusted EBITDA with Tax Attributes of $80.4 million ($1.86 per gallon) INDIANAPOLIS, Nov. 6, 2026 /PRNewswire/ -- Calumet, Inc. (NASDAQ: CLMT) (the "Company," "Calumet," "we," "our" or "us") today reported its results for the third quarter ended September 30, 2026, as follows:
Three Months Ended SeptemberNine Months Ended September 30,30, 2026202520262025 (In millions, except per share data) Net income (loss)$ 273.3$ 313.4$ (139.6)$ 3.5 Basic earnings per common share$ 2.91$ 3.61$ (1.79)$ 0.04 Adjusted EBITDA$ 322.0$ 69.6$ 508.9$ 162.8 Adjusted EBITDA with Tax Attributes$ 347.2$ 92.5$ 572.6$ 224.0
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