Calumet Q2 2026: $175M Adjusted EBITDA, $115M Debt Paid, MaxSAF Expansion Online
CLMT has more than doubled off its 52-week low of $12.935.
Summary
Calumet reported Q2 2026 Adjusted EBITDA of $175.2 million, retired $115 million of debt, and completed the first phase of its MaxSAF 150 renewable fuels expansion. The net loss of $95.9 million was driven by non-cash RINs and mark-to-market items.
Key Events · Earnings and Guidance · CLMT
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Adjusted EBITDA Surges to $175.2M
Q2 2026 Adjusted EBITDA with Tax Attributes reached $175.2 million, up from $76.5 million a year ago, driven by a global specialty products shortage and strong operational execution.
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Specialty Products Segment Drives Results
The Specialty Products & Solutions segment generated $161.7 million in Adjusted EBITDA, reflecting a constructive margin environment and strong production.
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$115M Debt Retired in July
The company redeemed $100 million of 9.75% Senior Notes due 2028 and repaid a $15.5 million terminal asset financing arrangement, accelerating its deleveraging plan.
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MaxSAF 150 Expansion Phase 1 Complete
Montana Renewables completed the first phase of its MaxSAF 150 expansion and is now capturing robust renewable margins, with a faster, capital-efficient next phase planned.
Analysis · CLMT · Energy & Transportation
A global specialty products shortage propelled the SPS segment to $161.7 million in Adjusted EBITDA, driving a strong operational quarter with total Adjusted EBITDA of $175.2 million. The company also retired $115 million of debt in July and completed the first phase of its MaxSAF 150 renewable fuels expansion, positioning it to capture robust renewable margins. The net loss of $95.9 million was largely non-cash, driven by RINs mark-to-market and derivative items. This quarter marks a significant inflection in cash generation and deleveraging, though the balance sheet remains highly leveraged with negative equity.
How filings like this one have moved
In the 30 days to Sep 23, 2026, 29.1% of the 1683 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.32%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CLMT was trading at $41.75 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $3.6B. The 52-week trading range was $12.94 to $45.20. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.