Highest-materiality recent filing
Calumet Q1 2026 net loss $317M; Shreveport outage, Montana turnaround completed
Net loss $317M, basic loss $3.64/share vs $162M loss ($1.87/share) year ago.
Calumet issues $150M of additional 9.75% Senior Notes due 2031, to repay revolver
Issued $150M of 9.75% Senior Notes due 2031 at 105% of par; net proceeds ~$154.9M after discount and expenses.
Calumet prices $150M add-on of 9.75% Senior Notes due 2031 to repay revolver
$150M principal add-on to existing $405M 9.75% Senior Notes due 2031; issued at 105% of par.
Calumet FY2025 net loss narrows to $33.8M; Adjusted EBITDA with Tax Attributes $293.3M
FY2025 net loss $33.8M vs $222.0M in 2024; basic loss per share $0.39 vs $2.67.
Calumet closes upsized $405M 9.75% senior notes offering; proceeds to redeem near-term maturities
Issued $405M of 9.75% Senior Notes due 2031 at 98.996% of par; net proceeds ~$393M.
$405M aggregate principal of 9.75% Senior Notes due 2031, upsized from $350M, priced at 98.996% of par.
Calumet prelim FY2025 net loss $12M-$69M; Adj EBITDA $285M-$305M
Preliminary net loss range of $69M to $12M for year ended Dec 31, 2025.
Offering $350M senior unsecured notes due 2031; proceeds plus cash/borrowings to redeem all 11% 2026 notes and $275M of 8.125% 2027 notes.
Calumet restates Q1/Q2 2025 cash flows; misclassification of ~$81M; material weakness
Non-reliance on unaudited interim financials for Q1 and Q2 2025 due to cash flow classification error.
Calumet reports Q3 net income of $313.4M; plans SAF expansion; restates cash flows
Net income $313.4M ($3.61 basic EPS) vs loss of $100.6M in Q3 2024; Adjusted EBITDA with Tax Attributes $92.5M.
Calumet Q2 net loss widens to $147.9M; Adjusted EBITDA $55.1M
Net loss of $147.9M ($1.70 per share) vs $39.1M loss a year ago; Adjusted EBITDA $55.1M vs $74.8M.
Calumet closes $120M sale-leaseback with Stonebriar, will redeem $80M of 2026 Notes
Extended Shreveport terminal sale-leaseback from $70M to $120M; net proceeds $80M after repaying prior $40M balance.
Calumet Q1 net loss $162M, Adj EBITDA $38.1M; accelerates SAF capacity at lower cost
Net loss $162.0M ($1.87 per share) vs $41.6M loss year ago; Adjusted EBITDA $38.1M vs $28.1M.
Calumet Q4 net loss $40.7M; sells Royal Purple industrial for $110M
Net loss $40.7M ($0.47 EPS) in Q4; FY net loss $222.0M vs $48.1M income prior year.
Calumet subsidiary MRL draws $782M DOE loan; terminates Stonebriar leases and other debt
MRL received ~$782M first tranche of $1.44B DOE guaranteed loan on Feb 18, 2025.
DOE loan funding for Montana Renewables subsidiary resumes; $782M first tranche due next week
DOE Loan Program Office completed tactical review of Montana Renewables, LLC loan.
Calumet issues $100M 9.75% senior notes due 2028; proceeds to redeem higher-cost 11% notes
Issued $100M aggregate of 9.75% Senior Notes due 2028 at 98% of par; net proceeds ~$96.2M.
Calumet prelim Q4 net loss $54M-$24M; DOE secures up to $1.44B loan for SAF
Expected Q4 net loss between $54M and $24M; Adjusted EBITDA between $45M and $60M.
Calumet announces $100M 9.75% notes offering, ATM equity up to $65M; net loss $181M in 9M 2024
Offers $100M in 9.75% senior notes due 2028; proceeds to redeem 11% 2026 notes by April 15, 2025.
Calumet subsidiary closes $1.44B DOE loan guarantee for SAF expansion
Initial tranche of $782M expected to fund this month; Calumet to invest additional $150M equity.
Calumet exchanges $354.4M of 11% notes due 2025 for new 2026 notes; redeems remaining $9.1M
$354.4M principal (97.5% of outstanding Old Notes) exchanged for new 11% Senior Notes due April 15, 2026.
Calumet reports Q3 net loss of $100.6M; Adjusted EBITDA $49.8M; DOE loan $1.44B
Net loss $100.6M ($1.18 per share) vs net income $99.8M in Q3 2023.
Calumet exchanges ~97.5% of 2025 notes for new 11% notes due 2026
$354.4M of $363.5M outstanding 11% notes due 2025 tendered (97.5% participation).
Calumet launches debt exchange for 2025 notes; preliminary Q3 net loss up to $110M
Exchange offer for $363.5M 11% senior notes due 2025 to new 11% notes due April 2026; 69% of holders support.
Calumet unit Montana Renewables gets $1.44B conditional DOE loan for SAF expansion
DOE Loan Programs Office conditional commitment for up to $1.44B to expand Montana Renewables SAF capacity.
Calumet closes $150M sale-leaseback; receives $110M initially, MRL lease amended
Sale-leaseback of Calumet Montana Refining assets for $150M; initial $110M received; remaining $40M contingent on future financing.
Calumet reports Q2 net loss of $39.1M, Adjusted EBITDA of $66.8M; completes MLP-to-C-Corp conversion
Net loss of $39.1M ($0.48 per unit) vs $22.3M loss in Q2 2023; Adjusted EBITDA of $66.8M vs $68.1M.
Calumet completes conversion from MLP to C-corp, begins trading as CLMT
Conversion closed July 10, 2024; all Partnership common units exchanged for equal number of Calumet, Inc. shares.
Beginning on the Effective Date, David A. Lunin will no longer serve as the Company’s principal accounting officer. Mr. Lunin will continue to serve as the Executive Vice President, Chief Financial Officer and principal financial officer of the Company.
the Board of Directors of the Company (the “Board”) has appointed John R. Krutz to serve as the Company’s Chief Accounting Officer and principal accounting officer, effective May 21, 2025
On April 1, 2025, Vincent Donargo notified Calumet, Inc. (the “Company”) of his resignation as the Company’s Chief Accounting Officer and principal accounting officer, effective April 15, 2025 (the “Effective Date”).
On the Effective Date, David Lunin will assume the role as the Company’s principal accounting officer, which is in addition to Mr. Lunin’s existing roles as Executive Vice President, Chief Financial Officer and principal financial officer of the Company.
appointed James S. Carter, Daniel J. Sajkowski, Amy M. Schumacher, Daniel L. Sheets, Paul C. Raymond III, Jennifer G. Straumins, John G. Boss, Karen A. Twitchell and Todd Borgmann (collectively, the “Appointed Directors”) to the Board.
appointed James S. Carter, Daniel J. Sajkowski, Amy M. Schumacher, Daniel L. Sheets, Paul C. Raymond III, Jennifer G. Straumins, John G. Boss, Karen A. Twitchell and Todd Borgmann (collectively, the “Appointed Directors”) to the Board.
appointed James S. Carter, Daniel J. Sajkowski, Amy M. Schumacher, Daniel L. Sheets, Paul C. Raymond III, Jennifer G. Straumins, John G. Boss, Karen A. Twitchell and Todd Borgmann (collectively, the “Appointed Directors”) to the Board.
appointed James S. Carter, Daniel J. Sajkowski, Amy M. Schumacher, Daniel L. Sheets, Paul C. Raymond III, Jennifer G. Straumins, John G. Boss, Karen A. Twitchell and Todd Borgmann (collectively, the “Appointed Directors”) to the Board.
appointed James S. Carter, Daniel J. Sajkowski, Amy M. Schumacher, Daniel L. Sheets, Paul C. Raymond III, Jennifer G. Straumins, John G. Boss, Karen A. Twitchell and Todd Borgmann (collectively, the “Appointed Directors”) to the Board.
appointed James S. Carter, Daniel J. Sajkowski, Amy M. Schumacher, Daniel L. Sheets, Paul C. Raymond III, Jennifer G. Straumins, John G. Boss, Karen A. Twitchell and Todd Borgmann (collectively, the “Appointed Directors”) to the Board.
appointed James S. Carter, Daniel J. Sajkowski, Amy M. Schumacher, Daniel L. Sheets, Paul C. Raymond III, Jennifer G. Straumins, John G. Boss, Karen A. Twitchell and Todd Borgmann (collectively, the “Appointed Directors”) to the Board.
Stephen P. Mawer previously served as the sole director of the Company and was appointed as the Chairperson of the Board upon completion of the Conversion.
Max materiality 0.85 · Median 0.65 · Most common event debt