Calumet Specialty Products ( (CLMT) ) has released its Q4 earnings. Here is a breakdown of the information Calumet Specialty Products presented to its investors.
Calumet Specialty Products, Inc., headquartered in Indianapolis, Indiana, is a diversified manufacturer and marketer of specialty branded products and renewable fuels, operating across various consumer and industrial markets in North America.
In its latest earnings report for the fourth quarter and fiscal year 2024, Calumet reported a net loss of $40.7 million for the quarter, with an adjusted EBITDA of $56.6 million. The company also announced the sale of its Royal Purple® industrial business for $110 million and highlighted significant developments in its Montana Renewables segment, including the receipt of initial funds from a U.S. Department of Energy loan.
The fourth quarter saw varied performance across Calumet’s segments. The Specialty Products and Solutions segment reported an adjusted EBITDA of $43.4 million, down from the previous year, while the Performance Brands segment showed significant improvement with an adjusted EBITDA of $16.3 million, benefiting from a 15% increase in sales volume. Montana Renewables turned around its performance with $10.9 million in adjusted EBITDA, reflecting operational momentum and successful completion of a planned turnaround.
Looking ahead, Calumet’s management remains focused on deleveraging the balance sheet and growing cash flows. The recent DOE funding and strategic sale of assets are expected to support these goals, positioning the company for future growth and expansion in the renewable fuels sector.