Calumet (NASDAQ:CLMT) Posts Quarterly Earnings Results, Misses Estimates By $3.31 EPS

Calumet (NASDAQ:CLMT) released its earnings results on Friday. The oil and gas company reported ($3.64) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($3.31), FiscalAI reports. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1 billion. Calumet’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.87) EPS.

Here are the key takeaways from Calumet’s conference call:

• EPA’s Set 2 RVO and current commodity disruptions have created sharply higher spreads, resetting the outlook for biofuels and providing strong tailwinds for Montana Renewables and fuels margins.
• Calumet reported $50.1 million Adjusted EBITDA in Q1 2026, highlighted MRL EBITDA improvement and the on-time, on-budget MaxSAF 150 expansion, and expects these dynamics plus ~$1–$2/gal SAF premiums to accelerate cash generation and deleveraging; management has also hedged roughly 25% of fuels production for 2026–27 to de-risk cash flow.
• An operational issue at Shreveport from unexpected organic chlorides caused ~750,000 barrels of lost production and over $30 million of lost opportunity in the quarter, though the plant has been repaired, is running ~50,000 bpd, and additional sampling/controls were installed.
• The commercial team pushed through more than 20 price increases to offset rapid feedstock inflation, supporting ~ $54/ barrel specialty margins this quarter and record TruFuel volumes, with management expecting further benefit in Q2.

Calumet Price Performance

Calumet stock traded down $2.53 during trading on Friday, reaching $32.08. 2,215,753 shares of the company were exchanged, compared to its average volume of 1,005,372. Calumet has a 52-week low of $11.80 and a 52-week high of $36.94. The company has a market capitalization of $2.78 billion, a P/E ratio of -82.25 and a beta of 0.72. The stock’s 50 day simple moving average is $31.43 and its two-hundred day simple moving average is $24.72.

Insider Buying and Selling

In related news, Director Daniel J. Sajkowski sold 3,310 shares of Calumet stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $34.46, for a total transaction of $114,062.60. Following the transaction, the director owned 81,958 shares in the company, valued at approximately $2,824,272.68. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.07% of the company’s stock.

Institutional Investors Weigh In On Calumet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd increased its stake in Calumet by 294.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 1,229 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Calumet during the fourth quarter worth $34,000. Advisory Services Network LLC acquired a new stake in Calumet during the third quarter worth $59,000. Russell Investments Group Ltd. increased its stake in Calumet by 1,287.0% during the third quarter. Russell Investments Group Ltd. now owns 6,172 shares of the oil and gas company’s stock worth $113,000 after acquiring an additional 5,727 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in Calumet during the second quarter worth $230,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

Analyst Upgrades and Downgrades

CLMT has been the topic of several research reports. UBS Group restated a “neutral” rating and issued a $26.00 target price on shares of Calumet in a research report on Friday, February 13th. TD Cowen lifted their price objective on Calumet from $19.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday, March 5th. HC Wainwright lifted their price objective on Calumet from $33.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, March 30th. Finally, The Goldman Sachs Group downgraded Calumet from a “buy” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a research report on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.50.

About Calumet

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) is an independent provider of high-value, essential product solutions derived from both petroleum and renewable feedstocks. The company operates an integrated network of manufacturing plants, blending terminals and storage facilities across North America, delivering customized products and technical services to industrial, automotive, consumer and agricultural end markets. By leveraging its scale and technical expertise, Calumet tailors supply chain and formulation solutions to meet stringent regulatory and performance requirements.

Calumet’s product portfolio includes specialty lubricants and base oils for high-performance applications; process oils and waxes for food-grade, cosmetic and packaging uses; industrial solvents and cleaning solutions; and fuel additives designed to optimize engine performance and emissions.