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Calumet Provides Preliminary Fiscal Year 2025 Selected Financial Results

CLMT
  • Calumet, Inc. announced preliminary financial results for the year ended December 31, 2025, projecting a net loss between $69.0 million and $12.0 million.
  • The company expects Adjusted EBITDA with Tax Attributes to range from $285.0 million to $305.0 million for the full year 2025, a figure that also applies to its Restricted Subsidiary Group.
  • CEO Todd Borgmann stated that restricted debt was reduced by over $220 million in 2025, driven by structural cost improvements, supply chain efficiencies, disciplined capital spending, and an $110 million divestiture of the Royal Purple Industrial business.
  • Montana Renewables completed its first U.S. Department of Energy loan approved under the Trump administration, eliminating approximately $80 million in annual cash debt service, and monetized over $90 million in producer tax credits during 2025.
  • Production increased by 1.3 million barrels annually in 2025 due to reliability initiatives, and the MaxSAF™ 150 expansion at Montana Renewables is on track for the second quarter of 2026.
  • As of December 31, 2025, the company reported approximately $250 million in liquidity within the Restricted Subsidiaries Group and total liquidity of approximately $447 million including restricted cash.
  • The preliminary financial data has not been audited or reviewed by the company's independent public accounting firm, and actual results may vary materially from these estimates.