Calumet Specialty Products (CLMT)
NASDAQ:CLMT
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Earnings Data
Report Date
Aug 07, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.24Last Year’s EPS
-1.7Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive outlook: management highlighted a favorable macro margin environment (strong crack spreads and a supportive Set 2 RVO), successful completion and start-up of the Montana Renewables expansion, meaningful EBITDA improvement at Renewables, resilient specialties performance (six consecutive quarters >20k bpd and $54/boe specialties margin), and targeted hedging to de-risk high-margin fuels. Offsetting these positives were Q1 execution headwinds (Shreveport downtime, organic chloride contamination with ~750k barrels lost and >$30M of opportunity cost), temporary specialty EBITDA compression versus last year, hedge losses (~$6M realized) and working capital pressure from rapid price moves. Overall, the favorable market dynamics, strategic milestones, and remediation of operational issues suggest that highlights significantly outweigh the lowlights.Company Guidance
Strong Market Environment and Positioning
Calumet entered one of the strongest margin environments across traditional and renewable energy markets following the EPA Set 2 RVO. Management expects continued upside capture across fuels and specialties as commodity spreads widened and industry utilization improves.
Adjusted EBITDA and Cash Generation Opportunity
Company generated $50.1 million of adjusted EBITDA (with tax attributes) in Q1 2026; while slightly below prior year, management expects stronger cash flow in Q2 as outages were resolved and price increases take effect.
Montana Renewables MaxSAF 150 Expansion On Time and On Budget
MaxSAF 150 expansion at Montana Renewables commenced operations in early May, completed on time and on budget, positioning the site for a 4-5x increase in SAF volumes on an annual run-rate and supporting contractual SAF premiums of $1–$2 per gallon.
Montana Renewables EBITDA Growth
Montana/Renewables reported $10.2 million of adjusted EBITDA in Q1 2026 vs. $3.3 million in Q1 2025, an increase of ~209%, with Calumet-owned renewables EBITDA on an 87% basis of $8.8 million.
Specialties Business Resilience and Margin Performance
SPS specialties demonstrated $54 per barrel margins during the quarter despite rapid crude cost inflation. Specialties posted the sixth consecutive quarter with sales volumes exceeding 20,000 barrels per day and management executed over 20 price increases to offset feedstock cost increases.
Fuel Margin Outlook and Hedging Program
Using current strips, the 2026 full-year 2:1:1 crack is over $42 per barrel (nearly double 2025 average). Management has hedged approximately 10,000 bpd (~25% of fuels prod'n) for 2026 at roughly $22/2:1:1 and an additional ~10,000 bpd for 2027 near $27/2:1:1 to de-risk a portion of high-margin fuels production.
Record Performance Brands Momentum
TRUFUEL and Performance Brands posted record monthly sales volumes in February, continued momentum through Q1 and set another monthly volume record in April, with Q1 Performance Brands adjusted EBITDA of $12.6 million.
CLMT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CLMT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 08, 2026 | $34.61 | $32.08 | -7.31% |
Feb 27, 2026 | $30.22 | $26.96 | -10.79% |
Nov 07, 2025 | $19.51 | $19.19 | -1.64% |
Aug 08, 2025 | $14.91 | $14.37 | -3.62% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Calumet Specialty Products (CLMT) report earnings?
Calumet Specialty Products (CLMT) is schdueled to report earning on Aug 07, 2026, Before Open (Confirmed).
What is Calumet Specialty Products (CLMT) earnings time?
Calumet Specialty Products (CLMT) earnings time is at Aug 07, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CLMT EPS forecast?
CLMT EPS forecast for the fiscal quarter 2026 (Q2) is 0.24.