Mon, May 12, 9:25 PM (39 days ago)
**Calumet, Inc. (CLMT) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $993.9 million, down 1.2% YoY. - **Net Loss:** $162.0 million, significantly higher than the $41.6 million loss in Q1 2024. - **Adjusted EBITDA:** $38.1 million, up from $28.1 million in Q1 2024. - **Cash Flow:** Used $110.6 million in operating activities, up from $94.0 million in Q1 2024. **Profit Margins:** - **Gross Margin:** Negative 8.2%, down from 7.8% in Q1 2024. - **Operating Margin:** Negative 4.9%, improved from -3.6% in Q1 2024. **Cash Flow:** - **Operating Cash Flow:** Negative $110.6 million, worse than -$94.0 million in Q1 2024. - **Investing Cash Flow:** Positive $77.8 million, a significant improvement from -$20.0 million in Q1 2024. - **Financing Cash Flow:** Positive $190.3 million, up from $130.7 million in Q1 2024. **Earnings Changes:** - **EPS:** Negative $1.87, down from -$0.51 in Q1 2024. **Quarterly Performance:** - **Sales Volume:** Increased by 1.2% YoY. - **Production Volume:** Increased by 8.7% YoY. - **Segment Performance:** Specialty Products and Solutions saw a decrease in gross profit, while Montana/Renewables and Performance Brands showed mixed results. **Trends & Uncertainties:** - **Market Conditions:** Improved commodity margins and strong specialty margins. - **Operational Efficiency:** Continued focus on cost efficiency and operational performance. - **Regulatory Impact:** Ongoing RINs obligations and regulatory changes affecting renewable fuel credits. **Future Operations:** - **Capital Expenditures:** Forecasted at $60-$90 million for 2025, excluding MaxSAF™ project costs. - **Debt Management:** Compliance with debt covenants and adequate liquidity to meet financial commitments. - **Strategic Initiatives:** Focus on renewable fuel production and operational improvements. **Impact:** - **Financial Performance:** Mixed results with increased losses but improved EBITDA and cash flow from investing activities. - **Operational Efficiency:** Continued focus on cost management and operational improvements. - **Market Position:** Strategic advantages in renewable fuels and specialty products, but facing regulatory and market uncertainties.