# Calumet, Inc.: overview

CLMT · Nasdaq · CIK 2013745 · [Energy](/sectors/energy.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/clmt.md) · [Financials](/companies/clmt/financials.md) · [Filings](/companies/clmt/filings.md) · [Insiders](/companies/clmt/insiders.md)

Latest reported revenue: [$1.45bn](/filings/0002013745-26-000024.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 7, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0002013745-26-000024).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [1,100](/filings/0002013745-25-000023.md) | [950 d](/filings/0002013745-26-000007.md) | [994](/filings/0002013745-26-000016.md) | [1,027](/filings/0002013745-26-000024.md) | [1,078](/filings/0002013745-25-000023.md) | [1,039 d](/filings/0002013745-26-000007.md) | [1,030](/filings/0002013745-26-000016.md) | [1,445](/filings/0002013745-26-000024.md) |
| Gross margin | % | [0.4%](/filings/0002013745-25-000023.md) | [8.8% d](/filings/0002013745-26-000007.md) | [(8.2%)](/filings/0002013745-26-000016.md) | [(4.2%)](/filings/0002013745-26-000024.md) | [34.7%](/filings/0002013745-25-000023.md) | [(0.3%) d](/filings/0002013745-26-000007.md) | [(8.5%)](/filings/0002013745-26-000016.md) | [1.3%](/filings/0002013745-26-000024.md) |
| Operating margin | % | [(5.2%)](/filings/0002013745-25-000023.md) | [2.4% d](/filings/0002013745-26-000007.md) | [(4.9%)](/filings/0002013745-26-000016.md) | [(9.8%)](/filings/0002013745-26-000024.md) | [30.0%](/filings/0002013745-25-000023.md) | [(6.2%) d](/filings/0002013745-26-000007.md) | [(16.6%)](/filings/0002013745-26-000016.md) | [(2.8%)](/filings/0002013745-26-000024.md) |
| Net margin | % | [(9.1%)](/filings/0002013745-25-000023.md) | [(4.3%) d](/filings/0002013745-26-000007.md) | [(16.3%)](/filings/0002013745-26-000016.md) | [(14.4%)](/filings/0002013745-26-000024.md) | [29.1%](/filings/0002013745-25-000023.md) | [(3.6%) d](/filings/0002013745-26-000007.md) | [(30.8%)](/filings/0002013745-26-000016.md) | [(6.6%)](/filings/0002013745-26-000024.md) |
| Diluted EPS | $ per share | [(1.18)](/filings/0002013745-25-000023.md) | not reported | [(1.87)](/filings/0002013745-26-000016.md) | [(1.70)](/filings/0002013745-26-000024.md) | [3.61](/filings/0002013745-25-000023.md) | not reported | [(3.64)](/filings/0002013745-26-000016.md) | [(1.09)](/filings/0002013745-26-000024.md) |
| Free cash flow | $m | [(34.9) d](/filings/0002013745-25-000023.md) | [(28.4) d](/filings/0002013745-26-000007.md) | [(46.9)](/filings/0002013745-26-000016.md) | [(20.8) d](/filings/0002013745-26-000024.md) | [0.0 d](/filings/0002013745-25-000023.md) | [104 d](/filings/0002013745-26-000007.md) | [(99.4)](/filings/0002013745-26-000016.md) | [54.0 d](/filings/0002013745-26-000024.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY (2022-12-31) | FY (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: |
| Revenue | $m | [4,686](/filings/0001558370-25-001961.md) | [4,181](/filings/0002013745-26-000007.md) | [4,189](/filings/0002013745-26-000007.md) | [4,137](/filings/0002013745-26-000007.md) |
| Gross margin | % | [7.5%](/filings/0001558370-25-001961.md) | [10.8%](/filings/0002013745-26-000007.md) | [5.5%](/filings/0002013745-26-000007.md) | [5.9%](/filings/0002013745-26-000007.md) |
| Operating margin | % | [2.8%](/filings/0001558370-25-001961.md) | [6.4%](/filings/0002013745-26-000007.md) | [0.2%](/filings/0002013745-26-000007.md) | [2.6%](/filings/0002013745-26-000007.md) |
| Net margin | % | [(3.7%)](/filings/0001558370-25-001961.md) | [1.2%](/filings/0002013745-26-000007.md) | [(5.3%)](/filings/0002013745-26-000007.md) | [(0.8%)](/filings/0002013745-26-000007.md) |
| Diluted EPS | $ per share | not reported | not reported | [(2.67)](/filings/0002013745-26-000007.md) | [(0.39)](/filings/0002013745-26-000007.md) |
| Free cash flow | $m | [(436)](/filings/0001558370-25-001961.md) | [(287)](/filings/0002013745-26-000007.md) | [(123)](/filings/0002013745-26-000007.md) | [56.6](/filings/0002013745-26-000007.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/clmt/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [Two Seas Capital LP](/funds/1823138.md) | 2026-06-30 | $238.4m | 6,619,708 |  | Added +659,416 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $188.5m | 5,234,106 |  | Added +253,578 |
| [Wasserstein Management, L.P.](/funds/1751492.md) | 2026-06-30 | $142.8m | 3,964,893 |  | Reduced −608,470 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $125.0m | 3,471,065 |  | Added +390,906 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $124.4m | 3,453,911 |  | Added +18,517 |
| [Adams Asset Advisors, LLC](/funds/1386929.md) | 2026-06-30 | $72.3m | 2,006,206 |  | Reduced −1,196,026 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $70.7m | 1,962,286 |  | Added +89,427 |
| [Graham Capital Management, L.P.](/funds/1315421.md) | 2026-06-30 | $61.7m | 1,713,400 | Put | Unchanged |
| [BARCLAYS PLC](/funds/312069.md) | 2026-06-30 | $50.8m | 1,409,773 |  | Added +731,860 |
| [SUSQUEHANNA INTERNATIONAL GROUP, LLP](/funds/1446194.md) | 2026-06-30 | $41.2m | 1,143,700 | Put | Added +270,000 |

## Recent filings

[All 275 filings](/companies/clmt/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-09-15 | 21:46 ET | [8-K](/filings/0001193125-26-390825.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 9.01 Financial statements and exhibits | 0001193125-26-390825 |
| 2026-09-01 | 20:20 ET | [8-K](/filings/0002013745-26-000029.md) | 1.01 Entry into a material agreement; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0002013745-26-000029 |
| 2026-08-07 | 20:28 ET | [10-Q](/filings/0002013745-26-000024.md) | Quarterly report, period 2026-06-30 | 0002013745-26-000024 |
| 2026-08-07 | 12:05 ET | [8-K](/filings/0002013745-26-000022.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0002013745-26-000022 |
| 2026-06-05 | 21:00 ET | [SCHEDULE 13D/A](/filings/0001193125-26-259859.md) | Ownership report, active investor, amended | 0001193125-26-259859 |
| 2026-06-03 | 20:31 ET | [8-K](/filings/0001193125-26-255570.md) | 5.07 Shareholder vote results | 0001193125-26-255570 |
| 2026-05-08 | 20:08 ET | [10-Q](/filings/0002013745-26-000016.md) | Quarterly report, period 2026-03-31 | 0002013745-26-000016 |
| 2026-05-08 | 11:18 ET | [8-K](/filings/0002013745-26-000013.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0002013745-26-000013 |
| 2026-04-20 | 20:01 ET | [DEF 14A](/filings/0001140361-26-015639.md) | Proxy statement, period 2026-06-02 | 0001140361-26-015639 |
| 2026-03-25 | 20:10 ET | [8-K](/filings/0002013745-26-000011.md) | 5.02 Departure or appointment of officers or directors; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0002013745-26-000011 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0002013745-26-000007.md), filed Feb 27, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/537e389d-b239-4ade-94a3-cf5fdf4d51e1)

## About the filer

- CIK: 2013745
- Tickers: CLMT
- Exchange: Nasdaq
- SIC code: 2911 Petroleum Refining
- State of incorporation: not reported
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:50 ET. No prices; not investment advice.