Calumet (NASDAQ:CLMT) Issues Earnings Results, Misses Estimates By $3.31 EPS

Calumet (NASDAQ:CLMT) announced its quarterly earnings data on Friday. The oil and gas company reported ($3.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($3.31), FiscalAI reports. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the business earned ($1.87) earnings per share. Calumet’s revenue was up 3.6% compared to the same quarter last year.

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 Stock Performance

Shares of NASDAQ:CLMT traded down $2.53 during midday trading on Friday, hitting $32.08. 2,215,753 shares of the stock were exchanged, compared to its average volume of 1,005,372. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of -82.25 and a beta of 0.72. The business’s 50-day moving average price is $31.43 and its 200 day moving average price is $24.72. Calumet has a 12 month low of $11.80 and a 12 month high of $36.94.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling 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 stock was sold at an average price of $34.46, for a total transaction of $114,062.60. Following the sale, the director directly owned 81,958 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Company insiders own 4.07% of the company’s stock.

Institutional Trading of Calumet

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd increased its position in Calumet by 294.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 1,229 shares during the period. Global Retirement Partners LLC acquired a new stake in Calumet during the 4th quarter worth about $34,000. Advisory Services Network LLC acquired a new stake in shares of Calumet during the 3rd quarter worth approximately $59,000. Russell Investments Group Ltd. grew its position in shares of Calumet by 1,287.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,172 shares of the oil and gas company’s stock worth $113,000 after buying an additional 5,727 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in shares of Calumet in the 2nd quarter valued at about $230,000. 34.41% of the stock is currently owned by institutional investors.

About Calumet

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.