Calumet reports first quarter 2025 results

First quarter 2025 net loss of $162.0 million, or basic loss per common share of $1.87 per share first quarter 2025 adjusted ebitda with tax attributes of $55.0 million, reflecting a $30.4 million adjustment for rins incurrence expense and $16.9 million from the production tax credit ("ptc") montana renewables expects to reach 120 to 150-million-gallon saf capacity sooner than previously reported for a fraction of the cost  montana renewables received $782 million funding of department of energy ("doe") loan in february 2025, closed sale of royal purple® industrial business for $110 million in march 2025, and launches partial redemption for $150 million of 2026 notes   company-wide cost reduction plan on track with $22 million year over year reduction in operating costs consolidated quarter ending liquidity of $542.7 million indianapolis , may 9, 2025 /prnewswire/ -- calumet, inc. (nasdaq: clmt) today reported results of calumet, inc. (the "company," "calumet," "we," "our" or "us") for the first quarter ended march 31, 2025, as follows: three months ended march 31,  2025 2024 net income (loss) $ (162.0) $ (41.6) basic earnings (loss) per common share/unit $ (1.87) $ (0.51) adjusted ebitda $ 38.1 $ 28.1 adjusted ebitda with tax attributes $ 55.0 $ 28.1 specialty products and solutions performance brands montana/renewables three months ended march 31,  three months ended march 31,  three months ended march 31,  2025 2024 2025 2024 2025 2024 (dollars in millions, except per barrel data) gross profit (loss) $ (34.0) $ 85.3 $ 22.2 $ 22.3 $ (69.6) $ (29.1) adjusted gross profit (loss) $ 64.9 $ 56.8 $ 24.2 $ 23.2 $ (8.2) $ (4.9) adjusted ebitda $ 56.3 $ 47.2 $ 15.8 $ 13.4 $ (13.6) $ (13.4) adjusted ebitda with tax attributes $ 56.3 $ 47.2 $ 15.8 $ 13.4 $ 3.3 $ (13.4) gross profit (loss) per barrel $ (6.33) $ 15.77 $ 144.16 $ 154.86 $ (32.03) $ (14.16) adjusted gross profit (loss) per barrel $ 12.08 $ 10.50 $ 157.14 $ 161.11 $ (3.77) $ (2.38) "the first quarter of 2025 reflected significant progress on multiple strategic fronts," said todd borgmann, ceo. "most importantly, we closed – and received funding – of our doe loan under the new administration setting the stage for transformational growth in our renewables business.
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