Calumet says MaxSAF expansion targets 200 million gallons annual SAF run rate by end-2028
CLMT•Leverage improved and debt was reduced
Net recourse leverage measured 3.9x at June 30, 2026, down from 7.0x a year earlier.
The company said $115 million of debt was retired in July.
MaxSAF and specialties expansion targets
Montana Renewables targets about 200 million gallons of SAF annual run-rate by year-end 2028, and remaining expansion capital has been cut to $137 million.
Calumet also said its specialties growth pipeline is estimated at about $50 million of organic projects with 30%+ IRR, with much of the slate targeted for 2027.
Calumet outlines growth strategy at Barclays conference
Calumet outlined its strategy at the Barclays CEO Energy-Power Conference, highlighting growth in specialty products and renewable fuels.
Adjusted EBITDA with tax attributes totaled $175.2 million in Q2 2026, up from $76.5 million a year earlier.
