Core Viewpoint - Calumet, Inc. is undergoing a governance transition with the nomination of Julio Quintana and Karen Narwold for election to the Board of Directors, following the retirement of Jim Carter and Dan Sheets after their terms end at the 2025 Annual Meeting [1][2][3] Group 1: Board Changes - Jim Carter and Dan Sheets will not seek re-election and will retire at the end of their terms, marking a significant transition for the Board [2] - The Board collaborated with Spencer Stuart and Wasserstein Debt Opportunities to identify qualified independent director candidates [2][3] Group 2: Contributions and Achievements - The outgoing directors contributed to key milestones, including the transition to a C-Corporation, the establishment of Montana Renewables, and securing a $1.4 billion Department of Energy loan [3] - The Board's efforts have laid the groundwork for Calumet's next phase, focusing on deleveraging, cash flow growth, and expanding Montana Renewables into a leading producer of sustainable aviation fuel [3] Group 3: New Board Nominees - Julio Quintana has extensive experience in the oil and gas sector, having served as President and CEO of Tesco Corporation and held various roles at Schlumberger and Unocal Corporation [4][5] - Karen Narwold has a strong background in corporate governance, having served as Executive Vice President and General Counsel at Albemarle Corporation, and holds leadership roles in other companies [6][8] Group 4: Company Overview - Calumet, Inc. manufactures and markets a diverse range of specialty branded products and renewable fuels, operating twelve facilities across North America [9]

Calumet (NASDAQ: CLMT ) reported in-line results for the 4th quarter of 2024. Management surprised investors with announcing the sale of a small portion of the Performance Brand (PB) business for $110 million. The conference call reflected fruits from many yearsI have been an investor for several decades enduring the 87 crash, 2000 crash, and 08 crash. I do use trading systems developed with TradeStation. I have enjoyed the rewards from both buy and hold and trading. My professional experiences includes sev ...

Calumet Specialty Products Partners (CLMT) Q4 2024 Earnings Call February 28, 2025 08:10 PM ET Company Participants John Kompa - Director of Investor RelationsTodd Borgmann - CEODavid Lunin - Executive VP & CFOBruce Fleming - EVP Montana/Renewables and Corporate DevelopmentJason Gabelman - MD - Equity ResearchNeil Mehta - Head of Americas Natural Resources Equity ResearchScott Obermeier - Executive Vice President, Specialty Conference Call Participants Roger Read - Senior Energy AnalystGregg Brody - Analyst ...

Group 1 - Calumet, Inc. held its Fourth Quarter and Full Year 2024 Results Conference Call on February 28, 2025 [1][2] - Key participants included CEO Todd Borgmann, CFO David Lunin, and other executive vice presidents [1][4] - The call included a presentation with accompanying slides available on the company's investor relations website [4] Group 2 - The company provided cautionary statements regarding forward-looking statements during the call [5] - Participants were reminded to refer to the press release and SEC filings for factors that may affect actual results [5]

Financial Performance - Calumet's total adjusted EBITDA for Q4 2024 was $56.6 million[6], while the full year 2024 reached $194.8 million[6] - The Specialty Products and Solutions (SPS) segment reported an adjusted EBITDA of $43.4 million in Q4 2024 and $193.6 million for the full year[6] - Performance Brands (PB) achieved an adjusted EBITDA of $16.3 million in Q4 2024 and $57.4 million for the full year[6] - Montana/Renewables (MR) segment's adjusted EBITDA was $10.9 million in Q4 2024 and $16.7 million for the full year[6]; Calumet's 86% allocation of this segment's adjusted EBITDA was $18.2 million in Q4 2024 and $24.9 million in FY 2024[6] Strategic Initiatives - Calumet successfully converted its structure to a C-Corp[6] - The company closed and funded a DOE loan[6], reducing company-wide cash debt servicing costs by approximately $80 million annually[9] - Calumet received $70 million for Restricted Group deleveraging[9] - Calumet announced a definitive agreement to sell assets related to the Royal Purple industrial business for $110 million[7] Renewables Segment - Renewable production reached 7,865 barrels per day in Q4 2024, compared to 5,441 barrels per day in Q4 2023[22] - Conventional production was 10,568 barrels per day in Q4 2024, versus 11,663 barrels per day in Q4 2023[22]

Core Viewpoint - Lubrication Engineers, Inc. has announced a definitive agreement to acquire the industrial brands and products of Royal Purple, enhancing its portfolio in high-performance industrial lubricants and asset reliability solutions [1][3]. Company Overview - Lubrication Engineers, Inc. (LE) is a leader in the development, manufacturing, and sale of premium industrial greases, gear oils, and lubricants, servicing customers in over 60 countries from its 150,000 sq. ft. manufacturing facility in Wichita, Kansas [5]. - Royal Purple (RPI) specializes in premium synthetic performance fluids, lubricants, and greases, designed for various industrial applications, including gear oils and hydraulic lubricants [2]. Strategic Fit - The acquisition of RPI aligns with LE's core strategy of developing ultra-premium, maintenance, repair, and operations (MRO)-oriented industrial lubricants and asset reliability solutions [4]. - LE aims to leverage RPI's research and development, sales, and marketing teams to enhance product offerings and customer service [3][4]. Transaction Details - The transaction is expected to close in the first half of 2025, pending customary closing conditions [4]. - Calumet, Inc. will retain ownership of the consumer segment of Royal Purple and related manufacturing assets [1].

Core Viewpoint - Calumet, Inc. has entered into a definitive agreement to sell the industrial portion of its Royal Purple® business for $110 million, while retaining the consumer segment and the production facility in Porter, Texas [1][4]. Group 1: Transaction Details - The sale includes Royal Purple's high-performance synthetic industrial product line, which encompasses industrial gear lubricants, bio-environmental lubricants, stationary natural gas engine oils, hydraulic lubricants, and compressor oils, along with an exclusive license for industrial applications [2]. - In the year ending December 31, 2024, Royal Purple's industrial business generated approximately $29 million in total sales [2]. Group 2: Retained Assets - Calumet will maintain ownership of the manufacturing site in Porter, Texas, and the consumer portion of the Royal Purple business, which serves a variety of automotive product applications through a multi-channel strategy [3]. - Key brands within the consumer segment include High Performance Motor Oil, HPS®, HMX®, Max EZ®, Max Gear®, Max-Clean®, XPR®, and Duralec Super™ [3]. Group 3: Financial Strategy - The company plans to use the proceeds from the sale primarily to pay down debt, with the transaction expected to close in the first half of 2025, subject to customary closing conditions [4]. - The CEO emphasized that the transaction aligns with the company's priority of deleveraging its balance sheet and reflects a strategic fit for the business [5].

Company Overview - Calumet, Inc. (NASDAQ: CLMT) manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels [2] - The company serves a broad range of consumer-facing and industrial markets [2] - Calumet is headquartered in Indianapolis, Indiana, and operates twelve facilities throughout North America [2] Upcoming Events - Calumet plans to attend the Raymond James Institutional Investors Conference on March 4, 2025, in Orlando, Florida [1] - The company will hold one-on-one investor meetings throughout the day at the conference [1]

Core Viewpoint - Calumet, Inc. announced that its subsidiary Montana Renewables, LLC has received a $782 million drawdown from a $1.44 billion loan facility with the U.S. Department of Energy to fund the construction and expansion of a renewable fuels facility, positioning it as a leading producer of Sustainable Aviation Fuel (SAF) globally [1][2][3] Loan Details - The loan guarantee is structured in two tranches, with the first tranche of approximately $782 million released for eligible expenses, while an additional $150 million equity investment was made by Calumet [4] - The remaining balance of approximately $658 million is expected to be disbursed during construction from 2025 to 2028, with disbursements subject to certain conditions [4] - The loan has a 15-year tenor with an interest rate at the U.S. Treasury rate plus 3/8%, and servicing of principal and interest will be deferred until the MaxSAF™ project is commissioned [4] Production Capacity and Expansion - The expansion will increase annual production capacity to approximately 300 million gallons of SAF and 330 million gallons of combined SAF and renewable diesel [2] - A second renewable fuels reactor is a key component of the expansion, expected to bring half of the SAF capability online by 2026 [2] Economic Impact - An economic impact study predicts that by 2028, the Great Falls site will support a population of 4,400 Montanans, primarily working-aged families [5] - The expansion is expected to create 450 construction jobs and up to 40 operations jobs [8] Regional Development - The expansion is anticipated to catalyze additional regional development, particularly for renewable feedstocks sourced from local farms and ranches [6] - MRL aims to create a large-scale, end-to-end SAF industry in Montana and the Pacific Northwest, similar to the Minnesota SAF Hub [6] Company Overview - Montana Renewables is a leading renewable fuel company in Great Falls, Montana, producing SAF, Renewable Diesel, Renewable Hydrogen, and Renewable Naphtha [9] - As the largest SAF producer in North America, MRL is committed to meeting the growing demand for sustainable fuels and supporting local economic development [9]

Group 1 - Calumet, Inc. plans to report its Fourth Quarter and Fiscal Year 2024 results on February 28, 2025 [1] - A conference call to discuss the financial and operational results is scheduled for February 28th at 9:00 AM ET [1] - The company manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels [3] Group 2 - Calumet is headquartered in Indianapolis, Indiana and operates twelve facilities throughout North America [3] - Investors and analysts can join a webcast of the call with accompanying presentation slides [2] - A toll-free participant dial-in is available for the conference call [2]