Calumet Specialty Products Partners(US:CLMT) Yahoo Finance·2025-11-07 20:22Core Viewpoint - Calumet's Q3 2025 earnings report caused significant stock volatility, with a brief rise of 13% followed by a decline of 6%, ultimately settling down 2.5% [1][3] Financial Performance - Calumet reported a 2% decline in sales, totaling $1.1 billion, but achieved a profit of $3.61 per share in Q3 2025, a turnaround from a loss of $1.18 per share in Q3 2024, attributed to cost reduction initiatives expected to save $80 million annually [3][4] - The company announced a restatement of Q2 financials due to misclassification in cash flow statements, which will not affect reported revenue or profits but will increase operating cash flow by approximately $80 million, enhancing free cash flow [4] Investment Considerations - The positive Q3 earnings could potentially eliminate Calumet's current $75 million free cash flow deficit, making the company free cash flow positive [5] - Despite the earnings surprise, Calumet remains unprofitable over the last 12 months, leading to caution among investors regarding stock purchases until profitability is established [6][8]