Calumet FY2025 net loss narrows to $33.8M; Adjusted EBITDA with Tax Attributes $293.3M

Calumet, Inc. /DE

2025-FY EPS reported -$0.39 revenue$4,137,100,000

FY2025 net loss $33.8M vs $222.0M in 2024; basic loss per share $0.39 vs $2.67.
Full-year Adjusted EBITDA with Tax Attributes $293.3M, up 28% from $229.3M.
Specialty Products & Solutions segment posted record production; Adjusted EBITDA $88.5M in Q4 vs $51.9M a year ago.
Reduced recourse debt by $222M in 2025; completed $405M private placement of 9.75% senior notes due 2031 in Jan 2026.
Montana Renewables MaxSAF 150 expansion on track for Q2 2026; segment reported $(5.4)M Adj EBITDA with Tax Attributes in Q4.

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