Calumet Q2 net loss widens to $147.9M; Adjusted EBITDA $55.1M

Calumet, Inc. /DE

2025-Q2 EPS reported -$3.58 revenue$2,020,500,000

Net loss of $147.9M ($1.70 per share) vs $39.1M loss a year ago; Adjusted EBITDA $55.1M vs $74.8M.
Montana Renewables segment reported $16.3M Adjusted EBITDA with Tax Attributes, up from $8.7M, on record volumes.
Company-wide operating cost savings reached $42M year-over-year in first half; called $230M of 2026 Senior Notes.
Specialties segment Adjusted EBITDA $66.8M, down from $72.7M, impacted by planned Shreveport turnaround.
Montana Renewables on track for 120-150M gallons SAF production by Q2 2026; operating costs fell to $0.43/gallon.

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