Calumet Provides Preliminary Fourth Quarter 2024 Selected Financial Results

Core Insights - Calumet, Inc. announced preliminary financial results for Q4 2024, expecting a net loss between $54 million and $24 million, and Adjusted EBITDA between $45 million and $60 million [2][21] - The company is focused on strategic progress, including the successful closing of a Department of Energy loan and operational milestones in its specialties and renewable fuels businesses [3][4] Financial Performance - The expected net loss for Q4 2024 ranges from $54 million to $24 million, while Adjusted EBITDA is projected to be between $45 million and $60 million [2][21] - The company reported a positive impact of approximately $20 million from insurance proceeds related to business interruption claims [4] Operational Highlights - Calumet achieved a 50 million gallon annualized Sustainable Aviation Fuel (SAF) run rate and met operational cost targets of $0.70 per gallon at its Montana Renewables facility [3][4] - The specialties business continued to show exceptional production, although seasonal impacts were noted in the fuel and asphalt segments [5] Strategic Focus - The company plans to focus on deleveraging its balance sheet in 2025, utilizing cash flow from earnings and anticipated capital raises to pay down 2026 notes [4] - Capital expenditures for 2025 are expected to be between $50 million and $70 million for the specialties business and $10 million to $20 million for maintenance capital at Montana Renewables [6]