Calumet Q1 2026 net loss $317M; Shreveport outage, Montana turnaround completed

Calumet, Inc. /DE

2026-Q1 EPS reported -$3.64 revenue$1,029,700,000

Net loss $317M, basic loss $3.64/share vs $162M loss ($1.87/share) year ago.
Adjusted EBITDA $27.6M; Adjusted EBITDA with Tax Attributes $50.1M.
Shreveport unplanned outage from organic chloride contamination lost ~750k bbl; resumed early April.
Montana Renewables finished turnaround and MaxSAF 150 expansion; operations commenced early May.
Non-cash items: $147.4M RINs expense, $102.7M unrealized derivative loss, $37.9M equity-based comp.

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