Calumet, Inc. /DE CLMT
We manufacture, formulate and market a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. We are headquartered in Indianapolis, Indiana and operate twelve facilities throughout North America. Our operations are managed using the following reportable segments: Specialty Products and Solutions; Performance Brands; Montana/Renewables; and Corporate. In our Specialty Products and Solutions segment, we manufacture and market a wide variety of solvents, waxes, customized lubricating oils, white oils, petrolatums, gels, esters, and other products. Our specialty products are sold to domestic and international customers who purchase them primarily as raw material components for consumer-facing and industrial products. In our Performance Brands segment, we blend, package and market high performance products through our Royal Purple, Bel-Ray, and TruFuel brands. Our Montana/Renewables segment is comprised of two facilities — renewable fuels and specialty asphalt. At our Montana Renewables facility, we process a variety of geographically advantaged renewable feedstocks into renewable diesel, sustainable aviation fuel ("SAF"), and renewable naphtha that are distributed into renewable markets in the western half of North America. At our Montana specialty asphalt facility, we process Canadian crude oil into conventional gasoline, diesel, jet fuel and specialty grades of asphalt, with production sized to serve local markets. Our Corporate segment primarily consists of general and administrative expenses not allocated to the Specialty Products and Solutions, Performance Brands or Montana/Renewables segments.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $4.14B | $4.19B | $4.18B | $4.69B | — |
| Cost of revenue | $3.89B | $3.96B | $3.73B | $4.33B | — |
| Gross profit | $245.7M | $230.8M | $451.7M | $351.7M | — |
| SG&A | $123.8M | $145.5M | $133.0M | $143.4M | — |
| Operating income | $108.7M | $8.1M | $267.2M | $131.9M | — |
| Interest expense | $215.8M | $236.7M | $221.7M | $175.9M | — |
| Pre-tax income | -$126.4M | -$221.2M | $49.7M | -$169.9M | — |
| Income tax | $92.6M | $800.0K | $1.6M | $3.4M | — |
| Net income | -$33.8M | -$222.0M | $48.1M | -$173.3M | — |
| EPS, basic | -0.39 | -2.67 | — | — | — |
| EPS, diluted | -0.39 | -2.67 | — | — | — |
| Shares, diluted (wtd. avg.) | 86.8M | 83.1M | 80.1M | 79.3M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $125.1M | $38.1M | $7.9M | $35.2M | $121.9M |
| Receivables | $232.5M | $278.1M | $286.2M | — | — |
| Inventory | $385.2M | $416.3M | $439.4M | — | — |
| Total current assets | $857.8M | $766.0M | $794.7M | — | — |
| Property, plant and equipment | $1.35B | $1.44B | $1.51B | $1.48B | — |
| Goodwill | $140.5M | $173.0M | $173.0M | $173.0M | — |
| Other intangibles | $8.7M | $22.0M | $28.5M | — | — |
| Total assets | $2.69B | $2.76B | $2.75B | — | — |
| Accounts payable | $281.5M | $320.8M | $322.0M | — | — |
| Total current liabilities | $840.7M | $863.6M | $1.11B | — | — |
| Long-term debt | $2.08B | $2.06B | $1.83B | — | — |
| Total liabilities | $3.18B | $3.22B | $3.00B | — | — |
| Retained earnings | -$1.57B | -$1.54B | — | — | — |
| Total equity | -$732.7M | -$711.9M | -$490.3M | -$533.3M | -$385.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | $108.9M | -$46.4M | -$14.9M | $100.6M | — |
| Depreciation and amortisation | $148.8M | $149.0M | $146.8M | $98.3M | — |
| Stock-based compensation | -$4.5M | $14.6M | $14.7M | $17.3M | — |
| Capital expenditure | $52.3M | $76.7M | $271.8M | $536.2M | — |
| Investing cash flow | $44.1M | -$76.7M | -$271.8M | -$536.0M | — |
| Financing cash flow | $6.2M | $154.3M | $266.2M | $348.7M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-015639.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | — | $4.69B | $4.18B | $4.19B | $4.14B |
| Gross profit | — | $351.7M | $451.7M | $230.8M | $245.7M |
| Net income | — | -$173.3M | $48.1M | -$222.0M | -$33.8M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Item 7.01
- Material agreement signed Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Regulation FD disclosure Item 7.01
- Material agreement signed Item 1.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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