Calumet, Inc. (CLMT)
Calumet, Inc. brought in $5.2B of revenue over the twelve months to September 30, 2026, up 28.4% from a year earlier. It posted a net loss of $193.8M. Operating cash flow minus capital spending left $56.6M of free cash flow in fiscal 2025. At September 30, 2026 it held $225.2M in cash against $2.2B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 6, 2026.
Key facts about Calumet, Inc.
- Net worth
- Calumet, Inc. has a market value (market cap) of $3.1B at the latest share price, and shareholders' equity of -$870.7M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $4.1B (-1.2% year on year), with a net loss of $33.8M. Over the 12 months to September 30, 2026: revenue $5.2B, net loss $193.8M.
- Cash flow
- In fiscal 2025 operations brought in $108.9M of cash; after $52.3M of capital spending, free cash flow was $56.6M.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 6, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Calumet, Inc.'s next report is expected around January 5, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What Calumet, Inc. does
Calumet, Inc. is registered with the SEC under industry code SIC 2911 (Petroleum Refining). Its shares trade on NASDAQ under the ticker CLMT.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $4.1B | -$33.8M | -$0.39 | $56.6M |
| 2024 | $4.2B | -$222M | -$2.67 | -$123.1M |
| 2024 | $4.2B | $48.1M | n/a | -$286.7M |
| 2022 | $4.7B | -$173.3M | n/a | -$435.6M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where CLMT ranks in Energy
Latest SEC filings
What Calumet, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 6, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 56% to $1.7B versus the same quarter last year; diluted EPS $2.91 versus $3.61.
- November 6, 2026
- September 15, 2026Material agreement8-KCalumet increased its credit agreement commitments from $500.0 million to $600.0 million.
- September 1, 2026
- August 14, 2026Passive stake changed SCHEDULE 13G/A
- August 14, 2026Passive stake changed SCHEDULE 13G/A
- August 7, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 41% to $1.4B versus the same quarter last year; diluted EPS -$1.09 versus -$1.70.
- August 7, 2026
- June 5, 2026Activist stake changed SCHEDULE 13D/A
- June 3, 2026
What is CLMT worth? A DCF from its reported cash flow
Insider trades
What the people running Calumet, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $0 worth of shares in the last 90 days and bought none on the open market.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| October 19, 2026 | Lunin DavidEVP - CFO | Exercised options | 20,000 | - |
| October 19, 2026 | Lunin DavidEVP - CFO | Shares withheld for tax | 7,954 | - |
| September 25, 2026 | Mawer Stephen PDirector | Exercised options | 61,387 | - |
| September 25, 2026 | Mawer Stephen PDirector | Sold | 24,555 | - |
| September 25, 2026 | Fleming Bruce AEVP - MONTANA RENEWABLES | Exercised options | 107,428 | - |
| September 25, 2026 | Fleming Bruce AEVP - MONTANA RENEWABLES | Shares withheld for tax | 42,190 | - |
| September 25, 2026 | Borgmann Louis ToddCHIEF EXECUTIVE OFFICER | Exercised options | 107,428 | - |
| September 25, 2026 | Borgmann Louis ToddCHIEF EXECUTIVE OFFICER | Shares withheld for tax | 46,901 | - |
Who owns CLMT
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| The Heritage Group13D, may seek influence | 16.56% | June 5, 2026 |
| Two Seas Capital LP13G, passive with 2 related filers | 7.5% | August 14, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 188 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Two Seas Capital LP | 6,619,708 | +659,416 |
| BlackRock, Inc. | 5,234,106 | +253,578 |
| Wasserstein Management, L.P. | 3,964,893 | -608,470 |
| State Street Corp | 3,471,065 | +390,906 |
| Vanguard Capital Management LLC | 3,453,911 | +18,517 |
| Adams Asset Advisors, LLC | 2,006,206 | -1,196,026 |
| Geode Capital Management, LLC | 1,962,286 | +89,427 |
| Barclays PLC | 1,409,773 | +731,860 |
| Vanguard Portfolio Management LLC | 1,025,321 | +95,069 |
| Bank of America Corp | 981,353 | -172,391 |
| Wellington Management Group Llp | 811,482 | -19,076 |
| Citadel Advisors LLC | 762,084 | +226,051 |
| Morgan Stanley | 708,206 | -343,791 |
| Marshall Wace, Llp | 617,138 | -206,890 |
| Northern Trust Corp | 615,263 | +34,173 |
| Voleon Capital Management LP | 612,506 | -69,426 |
| Charles Schwab Investment Management Inc | 552,791 | +12,124 |
| Brown Advisory Inc | 535,044 | -30,680 |
| Citigroup Inc | 480,623 | -6,356 |
| Bnp Paribas Financial Markets | 479,261 | +172,374 |
Insiders
15 insiders reported holding 28,398,534 shares in total, about $986.3M at the last price.
| Holder | Shares |
|---|---|
| Heritage Group10% owner | 25,420,422 |
| Straumins JenniferDirector | 943,438 |
| Fleming Bruce AEVP - MONTANA RENEWABLES | 615,201 |
| Mawer Stephen PDirector | 348,410 |
| Borgmann Louis ToddCHIEF EXECUTIVE OFFICER | 324,269 |
| Schumacher Amy MDirector | 258,160 |
| Obermeier ScottEVP - SPECIALTIES | 237,656 |
| Sajkowski Daniel JDirector | 81,958 |
| Morical Gregory JSVP, GENERAL COUNSEL | 64,945 |
| Boss John G.Director | 33,033 |
Questions about CLMT
What does Calumet, Inc. do?
Calumet, Inc. is a company in the Energy sector, listed on NASDAQ as CLMT. Its shares trade on NASDAQ under the ticker CLMT.
What is Calumet, Inc.'s net worth?
Calumet, Inc. has a market value (market cap) of $3.1B at the latest share price, and shareholders' equity of -$870.7M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Calumet, Inc. profitable?
No. Over the twelve months to September 30, 2026 it reported a net loss of $193.8M on revenue of $5.2B.
How much revenue does Calumet, Inc. make?
Over the twelve months to September 30, 2026 Calumet, Inc. reported revenue of $5.2B. That is 28.4% more than a year earlier.
When did Calumet, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 6, 2026. It covers the period to September 30, 2026.
When is Calumet, Inc.'s next earnings report?
Calumet, Inc.'s next report is expected around January 5, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values Calumet, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.