Calumet Posts $317M Q1 Loss, Beats Revenue with $1.03B Sales
CLMT•Calumet Specialty Products Partners posted a first-quarter net loss of $317 million and EPS of -$3.64, missing consensus by $260 million and $3.07 respectively. Revenue rose to $1.03 billion, operations normalized at Shreveport and MaxSAF® 150 launched in Montana, but P/E sits at -15.33 and D/E at -0.03.
1. Q1 Financial Results
Calumet Specialty Products Partners reported a net loss of $317 million for the first quarter, translating to an EPS of -$3.64 versus an expected -$0.57. Despite the loss widening from $162 million a year ago, revenue climbed to $1.03 billion, topping estimates by $30 million.
2. Operational Developments
The Shreveport plant has returned to normal throughput following earlier disruptions, while the Montana Renewables facility commenced production of MaxSAF® 150 renewable fuel. These operational milestones support the company’s pivot toward higher-margin specialty and renewable products.
3. Valuation and Outlook
Calumet’s negative P/E ratio of -15.33 and debt-to-equity of -0.03 reflect ongoing financial strain. However, a recent upgrade to a Zacks Rank #2 (Buy) underscores growing optimism in the renewable fuels segment and potential earnings improvements ahead.
