Calumet Q1 net loss widens on non-cash charges

Calumet

08/05/2026 12:10

Overview

US specialty products and renewable fuels maker posted wider Q1 net loss on non-cash items

Adjusted EBITDA for Q1 fell yr/yr, impacted by operational downtime and planned turnaround

Company says EPA's SET2 RVO has improved biofuel margin outlook

Outlook

Company says EPA's SET2 RVO announcement has transformed outlook for biofuel margins

Calumet expects to benefit from strong margin environment in both traditional and renewable energy markets

Company says it is well positioned to capture market tailwinds and accelerate deleveraging

Result Drivers

SHREVEPORT OUTAGE - Unplanned outage at Shreveport facility due to organic chloride contamination reduced production by about 750,000 barrels; operations resumed in early April

HIGHER FEEDSTOCK COSTS - Specialty Products and Solutions segment faced rapid feedstock cost increases, leading to over 20 price hikes across the network

PLANNED TURNAROUND - Montana Renewables segment operated in January and February, then began planned turnaround and MaxSAF 150 expansion in March, limiting segment contribution for the quarter

Company press release: ID:nPnGRDrTa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
-$317 mln
Q1 Adjusted EBITDA
$27.6 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil & gas refining and marketing peer group is "buy"

Wall Street's median 12-month price target for Calumet Inc is $32.00, about 7.5% below its May 7 closing price of $34.61

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)