Calumet (NASDAQ:CLMT) Posts Earnings Results, Misses Expectations By $3.07 EPS

Calumet (NASDAQ:CLMT) announced its quarterly earnings data on Friday. The oil and gas company reported ($3.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($3.07), FiscalAI reports. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1 billion. Calumet’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.87) earnings per share.

Here are the key takeaways from Calumet’s conference call:

• EPA’s Set 2 RVO and current commodity disruptions have created sharply higher spreads, resetting the outlook for biofuels and providing strong tailwinds for Montana Renewables and fuels margins.
• Calumet reported $50.1 million Adjusted EBITDA in Q1 2026, highlighted MRL EBITDA improvement and the on-time, on-budget MaxSAF 150 expansion, and expects these dynamics plus ~$1–$2/gal SAF premiums to accelerate cash generation and deleveraging; management has also hedged roughly 25% of fuels production for 2026–27 to de-risk cash flow.
• An operational issue at Shreveport from unexpected organic chlorides caused ~750,000 barrels of lost production and over $30 million of lost opportunity in the quarter, though the plant has been repaired, is running ~50,000 bpd, and additional sampling/controls were installed.
• The commercial team pushed through more than 20 price increases to offset rapid feedstock inflation, supporting ~ $54/ barrel specialty margins this quarter and record TruFuel volumes, with management expecting further benefit in Q2.

Calumet Trading Down 7.3%

CLMT traded down $2.53 on Friday, reaching $32.08. The stock had a trading volume of 2,215,753 shares, compared to its average volume of 1,005,372. Calumet has a 12-month low of $11.80 and a 12-month high of $36.94. The business’s 50-day moving average price is $31.43 and its two-hundred day moving average price is $24.72. The company has a market cap of $2.78 billion, a P/E ratio of -82.25 and a beta of 0.72.

Insider Activity at Calumet

In other news, Director Daniel J. Sajkowski sold 3,310 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $34.46, for a total transaction of $114,062.60. Following the completion of the sale, the director owned 81,958 shares of the company’s stock, valued at $2,824,272.68. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.07% of the stock is owned by corporate insiders.

Institutional Trading of Calumet

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd increased its stake in shares of Calumet by 294.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 1,229 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Calumet during the fourth quarter worth about $34,000. Intech Investment Management LLC increased its stake in shares of Calumet by 10.3% during the fourth quarter. Intech Investment Management LLC now owns 21,957 shares of the oil and gas company’s stock worth $436,000 after purchasing an additional 2,047 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Calumet by 4.0% during the fourth quarter. Deutsche Bank AG now owns 54,996 shares of the oil and gas company’s stock worth $1,093,000 after purchasing an additional 2,112 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Calumet by 1.9% during the fourth quarter. Swiss National Bank now owns 136,900 shares of the oil and gas company’s stock worth $2,720,000 after purchasing an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 34.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on CLMT shares. The Goldman Sachs Group cut shares of Calumet from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a report on Friday, April 24th. UBS Group reissued a “neutral” rating and set a $26.00 target price on shares of Calumet in a report on Friday, February 13th. TD Cowen raised their target price on shares of Calumet from $19.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, March 5th. Finally, HC Wainwright raised their target price on shares of Calumet from $33.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, March 30th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.50.

Calumet Company Profile

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) is an independent provider of high-value, essential product solutions derived from both petroleum and renewable feedstocks. The company operates an integrated network of manufacturing plants, blending terminals and storage facilities across North America, delivering customized products and technical services to industrial, automotive, consumer and agricultural end markets. By leveraging its scale and technical expertise, Calumet tailors supply chain and formulation solutions to meet stringent regulatory and performance requirements.

Calumet’s product portfolio includes specialty lubricants and base oils for high-performance applications; process oils and waxes for food-grade, cosmetic and packaging uses; industrial solvents and cleaning solutions; and fuel additives designed to optimize engine performance and emissions.