Calumet Specialty Products reports Q2 EPS (48c), consensus (55c)

Reports Q2 revenue $1.134B, consensus $981.51M. “Calumet benefited from a strong operational quarter as we continue to demonstrate the strength of our specialties and renewables businesses,” said Todd Borgmann, CEO. “As planned, Montana Renewables produced at full rates throughout the quarter, achieving record levels of throughput, pretreater utilization, SAF production, and Adjusted EBITDA all while continuing to decrease costs towards our $.70 per gallon year-end target. Further, our specialties business realized record production levels while maintaining specialty margins despite a softening underlying commodity environment” Our Performance Brands segment also continues to grow rapidly, specifically where we can leverage Calumet’s commercial excellence platform and integrate within our broader Northwest Louisiana specialties network.