Strong Financial Performance Report of Calumet Inc.

Financial Developments and Operational Successes

Calumet Inc. (NASDAQ:CLMT) reported an adjusted EBITDA of 92.5 million dollars for the third quarter of 2025. The company successfully reduced operating costs by 24 million dollars compared to the same quarter last year, achieving a total of 60 million dollars in cost savings year-to-date.

The Special Products and Solutions Segment achieved a daily sales volume of over 20,000 barrels and obtained a margin of over 60 dollars per barrel.

The Montana Renewable Energy Segment successfully completed a test in SAF production and confirmed an annual production capacity of 120 million - 150 million gallons. The company reduced its constrained group debt by more than 40 million dollars and effectively managed its finances by lowering the outstanding RIN obligation by more than 320 million dollars.

The Heating Oil Operations Segment generated a profit of 14 million dollars in the third quarter compared to the previous year.

Renewable diesel margins continue to remain weak in the sector, which is impacting the profitability of the Montana Renewable Energy segment. Calumet Inc. had to restate its financials due to an error in the cash flow statements for the first quarter of 2025.

The company experienced a temporary increase in input costs due to being 0.20 dollars per gallon higher than expected. However, the softening observed in the general products market could challenge the company's growth outlook in the future.

Calumet is awaiting resolution of the recent regulatory uncertainty regarding the Renewable Fuel Obligations (RVO), which may have an impact on sector margins and operations.