Calumet Reports Third Quarter 2024 Results
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Calumet, Inc. reported a net loss of $100.6 million for Q3 2024, with an adjusted EBITDA of $49.8 million. The company set a new SAF production record and announced a $1.44 billion DOE loan commitment. Calumet also completed its conversion from an MLP to a C-Corp.
November 08, 2024 | 12:15 pm
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NEUTRAL IMPACT
Calumet, Inc. reported a significant net loss for Q3 2024, but achieved a new SAF production record and secured a $1.44 billion DOE loan commitment. The company also transitioned from an MLP to a C-Corp.
The net loss is a negative indicator, but the record SAF production and DOE loan commitment are positive developments. The MLP to C-Corp conversion may have long-term benefits. Overall, the mixed results lead to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100