Calumet reports fourth quarter and fiscal year 2024 results

Fourth quarter 2024 net loss of $40.7 million, or basic loss per common share of $0.47 per share fourth quarter 2024 adjusted ebitda of $56.6 million announces sale of royal purple® industrial business for $110 million montana renewables received initial funds from u.s. department of energy ("doe") loan in february 2025 specialties business posts record sales volume and cost improvement in 2024 indianapolis , feb. 28, 2025 /prnewswire/ -- calumet, inc. (nasdaq: clmt) today reported results of calumet, inc. (the "company," "calumet," "we," "our" or "us") for the fourth quarter ended december 31, 2024, as follows: three months ended december 31,  year ended december 31,  2024 2023 2024 2023 (dollars in millions, except per share/unit data) net income (loss) $ (40.7) $ (48.0) $ (222.0) $ 48.1 basic earnings (loss) per common share/unit $ (0.47) $ (0.59) $ (2.67) $ 0.59 adjusted ebitda $ 56.6 $ 39.7 $ 194.8 $ 260.5   specialty products and solutions performance brands montana/renewables three months ended december 31,  three months ended december 31,  three months ended december 31,  2024 2023 2024 2023 2024 2023 (dollars in millions, except per barrel data) gross profit (loss) $ 62.3 $ 88.1 $ 25.2 $ 16.1 $ (3.9) $ (82.1) adjusted gross profit (loss) $ 50.6 $ 69.6 $ 25.7 $ 16.5 $ 19.1 $ (19.3) adjusted ebitda $ 43.4 $ 75.6 $ 16.3 $ 6.1 $ 10.9 $ (25.8) gross profit (loss) per barrel $ 11.00 $ 16.11 $ 170.27 $ 135.29 $ (1.87) $ (45.76) adjusted gross profit (loss) per barrel $ 8.93 $ 12.73 $ 173.65 $ 138.66 $ 9.15 $ (10.76)   specialty products and solutions performance brands montana/renewables year ended december 31,  year ended december 31,  year ended december 31,  2024 2023 2024 2023 2024 2023 (dollars in millions, except per barrel data) gross profit (loss) $ 189.0 $ 402.2 $ 95.3 $ 82.1 $ (53.5) $ (32.6) adjusted gross profit $ 214.5 $ 291.0 $ 98.6 $ 78.5 $ 51.9 $ 59.8 adjusted ebitda $ 193.6 $ 251.2 $ 57.4 $ 47.9 $ 16.7 $ 30.2 gross profit (loss) per barrel $ 8.26 $ 18.73 $ 152.24 $ 160.35 $ (6.14) $ (4.56) adjusted gross profit per barrel $ 9.38 $ 13.56 $ 157.51 $ 153.32 $ 5.95 $ 8.36 "the past twelve months of strategic activity at calumet has fundamentally reset the company's foundation," said todd borgmann, ceo. "successfully completing the conversion to a c-corporation, receiving the first doe funding under the new administration, derisking montana renewables operations, and continuing to widen the competitive moat around our specialties business positions the company to succeed against our top priority of deleveraging the balance sheet and growing cash flows.
AIRJ Ratings Summary
AIRJ Quant Ranking