Calumet Q3 Net Income $273.3M; Adjusted EBITDA With Tax Attributes $347.2M
CLMT has more than doubled off its 52-week low of $17.85.
Summary
Calumet reported Q3 2026 net income of $273.3 million ($2.91 per share) and Adjusted EBITDA with Tax Attributes of $347.2 million, roughly four times the prior-year $92.5 million, while retiring about $265 million of debt since July.
Key Events · Earnings and Guidance · CLMT
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Q3 Profit Swing on Record Segments
Net income of $273.3 million, or $2.91 per basic share, versus $313.4 million in Q3 2025; nine-month net loss narrowed to $139.6 million from a $3.5 million profit a year earlier.
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Adjusted EBITDA Nearly Quadruples
Adjusted EBITDA with Tax Attributes of $347.2 million versus $92.5 million a year ago. Specialty Products & Solutions contributed $248.1 million and Montana/Renewables $110.6 million.
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Montana Renewables Record Quarter
Montana Renewables posted Adjusted EBITDA with Tax Attributes of $80.4 million ($1.86 per gallon) before the roughly 13.2% noncontrolling interest, its first full quarter since SET2 RVO.
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Debt Retirement Accelerates
About $265 million of debt retired since July, including $150 million of 9.75% 2028 Notes redeemed October 25, 2026 at 102.438% of principal; interest expense fell to $50.8 million from $53.6 million.
Analysis · CLMT · Energy & Transportation
Calumet swung to a $273.3 million quarterly profit from a $139.6 million loss over the first nine months, and the cash generation is being used to pay down debt rather than dilute shareholders. Adjusted EBITDA with Tax Attributes of $347.2 million versus $92.5 million a year ago is roughly a fourfold increase, driven by a specialty products market short of supply and a Montana Renewables unit earning $80.4 million ($1.86 per gallon) in its first full quarter under the SET2 RVO. About $265 million of high-cost debt has been retired since July, cutting interest expense to $50.8 million from $53.6 million. The caveat: reported net income includes a $113.8 million unrealized derivative loss and $176.7 million of non-cash RINs items, so the headline profit is not cash. The balance sheet still carries $2.15 billion of long-term debt and negative $870.7 million of stockholders' equity.
How filings like this one have moved
In the 30 days to Nov 6, 2026, 45% of the 1400 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.36%. 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 $43.00 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $3.8B. The 52-week trading range was $17.85 to $59.87. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.