)
Edge14 Nov 2025
Ball: The King of Cans
From a 19th-century glass-jar legacy to a global plant network, Ball is now a pure-play aluminum can partner to the world's biggest beverage brands.
Calumet Specialty Products Partners (CLMT) investor relations material
Calumet Specialty Products Partners Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary7 Nov, 2025
Executive summary
Achieved $92.5 million of adjusted EBITDA with tax attributes in Q3 2025, up from $59.8 million in Q3 2024, marking the strongest quarter in years and reflecting both financial and strategic progress.
Net income reached $313.4 million and basic EPS was $3.61 for Q3 2025, a significant turnaround from a net loss of $100.6 million in Q3 2024.
Company-wide cost reduction initiatives delivered $61 million in operating cost savings year-to-date, with quarterly operating cost reductions of $24 million versus last year.
Montana Renewables' MaxSAF expansion remains on schedule for Q2 2026, with 100 million gallons already contracted or in advanced DOE review.
Specialty Products & Solutions achieved record production and continued margin strength, with commercial teams selling over 20,000 barrels/day at margins above $60/barrel.
Financial highlights
Q3 2025 sales were $1,078.0 million, slightly down from $1,100.4 million in Q3 2024.
Gross profit for Q3 2025 was $373.7 million, up from $4.9 million in Q3 2024.
Adjusted EBITDA for Q3 2025 was $92.5 million, with Specialty Products & Solutions contributing $80.2 million, up from $50.7 million year-over-year.
Montana Renewables generated $17.1 million adjusted EBITDA with tax attributes, up from $14.6 million in the prior year.
Reduced restricted group debt by over $40 million during the quarter, supporting ongoing deleveraging efforts.
Outlook and guidance
MaxSAF expansion is on track for Q2 2026, with robust SAF demand and 100 million gallons of contracts secured.
Expect continued deleveraging in Q4 and strong free cash flow generation to conclude 2025.
Regulatory support for biofuels remains strong, with EPA decisions on RVO and SRE reallocation pending.
SAF premiums of $1–$2/gallon expected, with operations ready for 2026 startup.
Ongoing focus on operational improvements and cost reductions across all segments.
MR segment's Q3 margin headwinds?
Future of cost reduction initiatives?
SAF contracting progress and premium outlook?
MaxSAF: How will remaining 25% offtake be placed?
2027 maturities: What's the deleveraging plan?
MRL: Long-term feedstock supply outlook?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Calumet Specialty Products Partners earnings date
Q4 202527 Feb, 2026
Next Calumet Specialty Products Partners earnings date
Q4 202527 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Calumet Specialty Products Partners, L.P. is a master limited partnership focused on the production and distribution of specialty hydrocarbon products. The company manufactures a diverse range of products, including lubricants, solvents, waxes, and asphalt, as well as fuel products such as gasoline and diesel. Calumet serves a variety of industries, including automotive, industrial, construction, and personal care, with customized formulations designed to meet specific application requirements. The company is headquartered in Indianapolis, Indiana, and its shares are listed on the NASDAQ.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage