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Calumet, Inc. CLMT Q4 2025 Annual earnings

Reported February 27, 2026 · Before market open

Revenue$1.0BMiss by $19.0M
EPS-$0.43Beat by $0.24
Revenue estimate$1.1B
EPS estimate-$0.67

Next report

Aug 7, 2026 (In 1 week)
Revenue estimate$1.1B
EPS estimate$0.16

Financials

Q4 2025

Income statement

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Revenue$1.0B+9.4%
Gross profit--100%
Net income-$37.3M+8.4%
EPS (diluted)-$0.43+6.5%

Balance sheet

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Cash & equivalents$125.1M+228%
Total debt$2.5B+5.0%
Total equity-$732.7M-2.9%
Total assets$2.7B-2.5%

Cash flow

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Operating cash flow$116.5M+3,526%
CapEx$12.7M-49.2%
Free cash flow$103.8M+465%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$1.72B-8.9%
Enterprise value$4.06B-3.3%
P/S0.4×0.0×

Profitability

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Gross margin6%+0.5pp
Net margin-0.8%-0.4pp
FCF margin1.4%—

Returns & leverage

See full
Current ratio1×+0.1×

Segments

By product

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Other Specialty Products$365.2M+10.9%
Renewable Fuels$205.0M+69.6%
Lubricating Oils$176.0M-7.6%
Solvents$97.7M+9.4%
Waxes$37.0M-3.6%

By segment

See full
Specialty Products And Solutions$680.4M+4.3%
Montana Renewables$294.2M+32.0%
Performance Brands$68.7M-13.3%

Versus estimates

Revenue

Q1 2026$1.0BBeat by $28.6M
Q4 2025$1.0BMiss by $19.0M
Q3 2025$1.1BBeat by $33.4MQ2 2025$1.0BMiss by $127.7MQ1 2025$993.9MBeat by $71.6MQ4 2024$949.5MBeat by $49.9M

Diluted EPS

Q1 2026-$0.64Miss by $0.07
Q4 2025-$0.43Beat by $0.24
Q3 2025-$0.21Beat by $0.09Q2 2025-$1.70Miss by $1.26Q1 2025-$1.03Miss by $0.62Q4 2024-$0.47Beat by $0.59

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Questions, answered.

When did Calumet, Inc. report Q4 2025 earnings?
Calumet, Inc. (CLMT) reported Q4 2025 earnings on February 27, 2026 before market open.
What were Calumet, Inc.'s Q4 2025 revenue and EPS?
Calumet, Inc. reported revenue of $1.0B and eps of $-0.43 for Q4 2025.
Did Calumet, Inc. beat estimates in Q4 2025?
Revenue missed the consensus estimate of $1.1B by $19.0M. EPS beat the consensus estimate of $-0.67 by $0.24.
How did Calumet, Inc.'s Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 9.4% from $949.5M a year earlier and eps grew 8.5% from $-0.47.
Where can I find Calumet, Inc.'s Q4 2025 SEC filings?
You can read the 8-K earnings release (0002013745-26-000003) and the 10-K periodic report (0002013745-26-000007) directly on SEC EDGAR. The filing index links above go to sec.gov.