AI Earnings Predictions for Calumet Specialty Products Partners L.P. (CLMT)

EX-99.1

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EX-99.1

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Exhibit 99.1

Calumet Reports Third Quarter 2026 Results

•Third Quarter 2026 net income of $273.3 million, or basic earnings per common share of $2.91

•Third Quarter 2026 Adjusted EBITDA with Tax Attributes of $347.2 million

•Accelerated deleveraging continues with approximately $265 million of debt retirement since July

•$248.1 million of Specialty Products & Solutions Adjusted EBITDA driven by strong market environment for integrated specialties platform, lasting industry supply chain disruptions, and commercial execution

•Montana Renewables delivers record earnings in first full quarter of operations since SET2 RVO; Adjusted EBITDA with Tax Attributes of $80.4 million ($1.86 per gallon)

INDIANAPOLIS — (PR NEWSWIRE) — November 6, 2026 — Calumet, Inc. (NASDAQ: CLMT) (the “Company,” “Calumet,” “we,” “our” or “us”) today reported its results for the third quarter ended September 30, 2026, as follows:

Three Months Ended September 30,Nine Months Ended September 30,

2026202520262025

(In millions, except per share data)

Net income (loss)$273.3 $313.4 $(139.6)$3.5

Basic earnings per common share$2.91 $3.61 $(1.79)$0.04

Adjusted EBITDA$322.0 $69.6 $508.9 $162.8

Adjusted EBITDA with Tax Attributes$347.2 $92.5 $572.6 $224.0

Specialty Products and SolutionsPerformance BrandsMontana/Renewables

Three Months Ended September 30,Three Months Ended September 30,Three Months Ended September 30,

202620252026202520262025

(Dollars in millions, except per barrel data)

Gross profit$420.1 $276.3 $17.2 $18.5 $105.9 $78.9

Adjusted gross profit (loss)$283.5 $89.5 $18.2 $20.9 $101.8 $(5.3)

Adjusted EBITDA$248.1 $80.2 $9.1 $13.2 $85.4 $(5.8)

Adjusted EBITDA with Tax Attributes$248.1 $80.2 $9.1 $13.2 $110.6 $17.1

Gross profit per barrel$71.18 $46.11 $105.33 $124.16 $46.38 $34.50

Adjusted gross profit (loss) per barrel$48.04 $14.94 $111.47 $140.27 $44.58 $(2.32)

Specialty Products and SolutionsPerformance BrandsMontana/Renewables

Nine Months Ended September 30,Nine Months Ended September 30,Nine Months Ended September 30,

202620252026202520262025

(Dollars in millions, except per barrel data)

Gross profit (loss)$389.1 $227.4 $55.1 $62.8 $29.9 $(41.5)

Adjusted gross profit (loss)$538.4 $230.0 $56.2 $67.4 $114.7 $(15.5)

Adjusted EBITDA$454.1 $203.3 $28.1 $42.5 $83.7 $(24.5)

Adjusted EBITDA with Tax Attributes$454.1 $203.3 $28.1 $42.5 $147.4 $36.7

Gross profit (loss) per barrel$21.81 $13.51 $104.58 $135.93 $5.14 $(6.01)

Adjusted gross profit (loss) per barrel$30.19 $13.66 $106.66 $145.89 $19.76 $(2.24)

“The third quarter was exceptional for Calumet, with both of our businesses delivering outstanding results and our deleveraging and growth strategy accelerating by years,” said Todd Borgmann, CEO. “Our performance reflects a strong market and years of deliberate positioning through our integrated specialties platform supported by advantaged domestic crude, a world-class renewables business, and a commercial and operational organization executing at an increasingly high

level. We are converting this earnings power into lasting shareholder value, retiring over $265 million of high-cost debt in the past four months, reducing interest expense, and advancing a lower risk, highly capital-efficient MaxSAF(TM) expansion. With momentum accelerating across both businesses, Calumet is extremely well-positioned to continue executing our strategy.”

Net income in the third quarter of 2026 was significantly impacted by the following non-cash items: (1) an unrealized loss of $113.8 million for derivatives and (2) non-cash RINs related items of $176.7 million.

Specialty Products and Solutions (SPS): The SPS segment reported Adjusted EBITDA of $248.1 million during the third quarter 2026 compared to Adjusted EBITDA of $80.2 million for the same quarter a year ago. The third quarter 2026 Adjusted EBITDA results for SPS reflect a constructive market, an ongoing global shortage in specialty products; strong production, and excellent commercial execution.

Performance Brands (PB): The PB segment reported Adjusted EBITDA of $9.1 million during the third quarter 2026 versus Adjusted EBITDA of $13.2 million in the third quarter of 2025. Third quarter 2026 results reflected solid volumes, partially offset by compressed margins due to a normal price lag as increases were implemented in response to ongoing feedstock cost escalation. Third quarter 2026 results also included $7.0 million of proceeds for a business interruption insurance claim that was recognized during the current quarter.

Montana/Renewables (MR): The MR segment reported $110.6 million of Adjusted EBITDA with Tax Attributes during the third quarter 2026 compared to Adjusted EBITDA with Tax Attributes of $17.1 million in the prior year period. Segment results primarily reflected a strong renewables margin, while Montana specialty asphalts benefited from higher asphalt and conventional fuel margins.

In addition, t

EX-99.1

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EX-99.1

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Exhibit 99.1

Calumet Reports Second Quarter 2026 Results

•Second Quarter 2026 net loss of $(95.9) million, or basic earnings per common share of $(1.09), driven by non-cash RINs and other mark-to-market items

•Second Quarter 2026 Adjusted EBITDA with Tax Attributes of $175.2 million

•Montana Renewables completes first phase of MaxSAF® 150 expansion; now capturing robust renewable margins

•Accelerated deleveraging continues with $115 million of debt retirement in July

•Integrated specialties platform, favorable margin environment, and strong operational execution drive exceptional Specialty Products & Solutions results

INDIANAPOLIS — (PR NEWSWIRE) — August 7, 2026 — Calumet, Inc. (NASDAQ: CLMT) (the “Company,” “Calumet,” “we,” “our” or “us”) today reported its results for the second quarter ended June 30, 2026, as follows:

Three Months Ended June 30,Six Months Ended June 30,

2026202520262025

(In millions, except share data)

Net income (loss)$(95.9)$(147.9)$(412.9)$(309.9)

Basic earnings per common share$(1.09)$(1.70)$(4.73)$(3.58)

Adjusted EBITDA$159.3 $55.1 $186.9 $93.2

Adjusted EBITDA with Tax Attributes$175.2 $76.5 $225.3 $131.5

Specialty Products and SolutionsPerformance BrandsMontana/Renewables

Three Months Ended June 30,Three Months Ended June 30,Three Months Ended June 30,

202620252026202520262025

(Dollars in millions, except per barrel data)

Gross profit (loss)$31.8 $(14.9)$16.9 $22.1 $(30.4)$(50.8)

Adjusted gross profit (loss)$195.6 $75.6 $16.1 $22.3 $19.5 $(2.0)

Adjusted EBITDA$161.7 $66.8 $6.3 $13.5 $10.7 $(5.1)

Adjusted EBITDA with Tax Attributes$161.7 $66.8 $6.3 $13.5 $26.6 $16.3

Gross profit (loss) per barrel$5.25 $(2.74)$85.47 $138.99 $(17.67)$(20.78)

Adjusted gross profit (loss) per barrel$32.25 $13.81 $81.42 $140.25 $11.36 $(0.82)

Specialty Products and SolutionsPerformance BrandsMontana/Renewables

Six Months Ended June 30,Six Months Ended June 30,Six Months Ended June 30,

202620252026202520262025

(Dollars in millions, except per barrel data)

Gross profit (loss)$(31.1)$(48.9)$38.0 $44.3 $(76.0)$(120.4)

Adjusted gross profit (loss)$254.9 $140.5 $38.1 $46.5 $13.0 $(10.2)

Adjusted EBITDA$206.0 $123.1 $18.9 $29.3 $(1.7)$(18.7)

Adjusted EBITDA with Tax Attributes$206.0 $123.1 $18.9 $29.3 $36.7 $19.6

Gross profit (loss) per barrel$(2.60)$(4.51)$104.24 $141.53 $(21.66)$(26.07)

Adjusted gross profit (loss) per barrel$21.36 $12.95 $104.51 $148.56 $3.65 $(2.21)

“Calumet continues to execute against every element of our multi-dimensional strategy," said Todd Borgmann, CEO. "Our integrated specialties platform delivered exceptional results in a strong margin environment, supporting $115 million of debt retirement in July. Further, Montana Renewables completed the first stage of our MaxSAF® 150 expansion and is

advancing toward a faster, highly capital-efficient next stage expansion. Combined, our operating momentum and favorable outlook position us to simultaneously accelerate deleveraging and advance our growth strategies across both businesses."

Net loss in the second quarter of 2026 was significantly impacted by the following non-cash items: (1) an unrealized gain of $9.0 million for derivatives and (2) non-cash RINs related expense of $163.6 million.

Specialty Products and Solutions (SPS): The SPS segment reported Adjusted EBITDA of $161.7 million during the second quarter 2026 compared to Adjusted EBITDA of $66.8 million for the same quarter a year ago. The second quarter 2026 Adjusted EBITDA results for SPS reflect a constructive market, underpinned by a global shortage in specialty products; strong production, and excellent commercial execution.

Performance Brands (PB): The PB segment reported Adjusted EBITDA of $6.3 million during the second quarter 2026 versus Adjusted EBITDA of $13.5 million in the second quarter of 2025. Second quarter 2026 results reflected strong volumes and record quarterly sales of TruFuel®, partially offset by compressed margins as price increases were implemented during the quarter after a normal price lag, and feedstock costs escalated immediately with $7.3 million of LIFO impact to the segment.

Montana/Renewables (MR): The MR segment reported $26.6 million of Adjusted EBITDA with Tax Attributes during the second quarter 2026 compared to Adjusted EBITDA with Tax Attributes of $16.3 million in the prior year period. Our renewables business began its planned turnaround and MaxSAF® 150 expansion in March that lasted through April before restarting operations in early May with a strong renewables margin environment.

In addition, total corporate costs represent $(19.4) million of Adjusted EBITDA for the second quarter 2026. This compares to $(20.1) million of Adjusted EBITDA in the second quarter 2025.

Continued Debt Reduction

On July 15, 2026, the Company's wholly owned subsidiaries, Calumet Specialty Products Partners, L.P. (the "Partnership") and Calumet Finance Corp. (toget

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