Calumet, Inc. /DE — Form 8-K
Filed August 7, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 48/100
What the filing says
Calumet reported Q2 2026 net loss of $95.9M (EPS: -$1.09), driven by $163.6M non-cash RINs expense and mark-to-market losses on derivatives. Adjusted EBITDA was $175.2M (with tax attributes). The company redeemed $100M of 9.75% Senior Notes due 2028 at 102.438% on July 15, 2026, plus retired $15.5M Montana asset financing on July 31, reducing total debt by $115M in July. Specialty Products & Solutions segment EBITDA surged to $161.7M (vs. $66.8M prior year) on strong margins; Montana Renewables completed first phase of MaxSAF 150 expansion.
Why this rating
Debt reduction ($115M on ~$1.4B market cap = 8.2%) and operational momentum are material; GAAP losses driven by non-cash items, not operations. Modest relative to company size but shows capital discipline.
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