Calumet Specialty Products Partners(US:CLMT)2025-05-09 11:35Financial Performance Summary - Calumet's Adjusted EBITDA with Tax Attributes for Q1 2025 was $55 million, compared to $28.1 million in Q1 2024[5] - Specialty Products and Solutions (SPS) Adjusted EBITDA with Tax Attributes was $56.3 million in Q1 2025, up from $47.2 million in Q1 2024[5] - Performance Brands (PB) Adjusted EBITDA with Tax Attributes increased to $15.8 million in Q1 2025 from $13.4 million in Q1 2024[5] - Montana/Renewables (MRL at 87%) Adjusted EBITDA with Tax Attributes was $3.3 million in Q1 2025, a significant improvement from $(13.4) million in Q1 2024[5] - MRL at 100% Adjusted EBITDA with Tax Attributes totaled $2.4 million in Q1 2025, compared to $(6.3) million in Q1 2024[5] Strategic Initiatives and Operational Improvements - Calumet announced plans to accelerate MaxSAF expansion, targeting 120 million to 150 million gallons of SAF capacity by Q2 2026 ("MaxSAF150") with an initial capital cost estimate of $20-$30 million[6] - The company issued a notice of partial redemption for $150 million of '26 Notes[6] - Calumet achieved a year-over-year operating cost reduction of $22 million in Q1 2025[6] - Montana Renewables generated a Production Tax Credit (PTC) of $0.47 per gallon, totaling $19.6 million in Q1 2025[40, 45] - Consolidated quarter-ending liquidity was $542.7 million, with $347.3 million in the restricted group[6]