Reports Q3 revenue $1.100B, consensus $972.12M. “Calumet continues to execute on our strategic catalysts as planned,” said Todd Borgmann, CEO. “We started the quarter with the conversion of Calumet’s structure from a MLP to a C-Corp, and in October we announced the conditional commitment of a $1.44B DOE loan guarantee. We remain confident and on-track to close the DOE loan as previously disclosed. Further, we are pleased to report significant progress towards fortifying our operations, with our specialties business achieving a new production record and Montana Renewables reaching a new SAF production high. These new operational milestones and continued execution against our strategic initiatives support our relentless focus on driving shareholder value.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CLMT:
- CLMT Upcoming Earnings Report: What to Expect?
- Calumet Specialty Products reports preliminary Q3 adjusted EBITDA $45M-$55M
- Calumet Specialty Products price target raised to $29 from $25 at Wells Fargo
- Calumet Specialty Products price target raised to $27 from $22 at TD Cowen
- Closing Bell Movers: Alcoa up 6%, Steel Dynamics up 3% after Q3 results