earnings
confidence high
sentiment neutral
materiality 0.65
Calumet reports Q2 net loss of $39.1M, Adjusted EBITDA of $66.8M; completes MLP-to-C-Corp conversion
Calumet, Inc. /DE
2025-Q2 EPS
reported -$0.98
vs consensus -$0.33
▼ miss
(-192.6%)
- Net loss of $39.1M ($0.48 per unit) vs $22.3M loss in Q2 2023; Adjusted EBITDA of $66.8M vs $68.1M.
- Completed MLP-to-C-Corp conversion in July; over 99% unitholder approval; shareholders now Calumet, Inc.
- Montana Renewables achieved full production; produced ~7M gallons of SAF; record volumes in Specialties and Renewables.
- Segment Adjusted EBITDA: SPS $65.8M (+7.9% YoY), PB $14.1M (+15.6%), MR $7.6M (-41.5%).
- Total sales volume up 14% YoY to 90,242 bpd; corporate costs $20.7M.