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Calumet lifts adjusted earnings and pays down debt

US fuels and specialty products company Calumet increased quarterly adjusted earnings before interest, taxes, depreciation and amortisation to 322 million dollars, while net income declined to 273.3 million dollars. Specialty products generated the largest segment contribution. The company also said it had retired approximately 265 million dollars of debt since the beginning of July.

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Wide view of distillation columns, pipe racks and storage tanks at a Calumet specialty products refinery in the United States.

Net income falls as adjusted earnings rise

Calumet, a US fuels and specialty products company, reported third-quarter results and discussed debt paydown in its earnings call.[1], [2]

Net income decreased from 313.4 million dollars a year earlier to 273.3 million dollars. Basic earnings per share fell from 3.61 dollars to 2.91 dollars. Adjusted earnings before interest, taxes, depreciation and amortisation rose from 69.6 million dollars to 322 million dollars. A separate adjusted measure including tax attributes increased from 92.5 million dollars to 347.2 million dollars.[1]

Specialty products lead segment earnings

Specialty products and solutions generated adjusted earnings of 248.1 million dollars, against 80.2 million dollars a year earlier. Calumet attributed support to tighter market supply for some products. Performance brands earnings on that basis declined from 13.2 million dollars to 9.1 million dollars. The company cited higher raw material costs and delays in passing them through to prices. Results also included 7 million dollars associated with an insurance claim.[1]

Renewables earnings increase and debt is retired

Montana and renewables adjusted earnings including tax attributes rose from 17.1 million dollars to 110.6 million dollars. Montana Renewables accounted for 80.4 million dollars within those activities. Calumet said it had retired approximately 265 million dollars of debt since July began. For the first nine months, net income of 3.5 million dollars a year earlier became a net loss of 139.6 million dollars. Quarterly results included an unrealised derivative loss of 113.8 million dollars.[1]

References

  1. News sourceCalumetCalumet adjusted earnings rise as net income falls↩1↩2↩3↩4
  2. News sourceMotley FoolCalumet (CLMT) Q3 2026 Earnings Call Transcript↩
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