Calumet Reports Strong Q3 2026 Adjusted EBITDA Growth Driven by Specialty Products and Montana Renewables
Calumet (CLMT) reported significant growth in its third quarter 2026 results, with Adjusted EBITDA including tax attributes rising to $347.2 million, a substantial increase from $92.5 million in the same period last year. This performance was primarily driven by strong margins in Specialty Products and Solutions, as well as robust contributions from Montana Renewables due to high asphalt and conventional fuel margins. The company also made significant strides in deleveraging its balance sheet, reducing consolidated net leverage to 3x from over 9x at the start of 2025. This was aided by $265 million in debt retirement, which is expected to generate $26 million in annual interest savings. While reported net income decreased to $2.91 per share due to unrealized derivative losses and non-cash RINs adjustments, the underlying operational margins remain strong.
Tickers: $CLMT
Topics: debt retirement earnings report EBITDA net income renewables