Calumet Inc (CLMT) financial statements: income statement, balance sheet and cash flow
Calumet Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Calumet Inc reported revenue of $4.1B (-1.2% year on year) and net income of ($126.4M) (+42.9% year on year).
Income statement
Calumet Inc income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Sales
$4.1B
$4.2B
Cost of sales
$3.9B
$4.0B
Gross profit
$245.7M
$230.8M
Selling
$47.9M
$55.7M
General and administrative
$123.8M
$145.5M
Taxes other than income taxes
$19.8M
$20.7M
Loss on impairment and disposal of assets
$1.3M
$2.0M
Gain on sale of business
($55.8M)
—
Operating income
$108.7M
$8.1M
Interest expense
($215.8M)
($236.7M)
Debt extinguishment costs
($47.4M)
($400.0K)
Gain on derivative instruments
$8.7M
$9.3M
Other income (expense)
$19.4M
($1.5M)
Total other expense
($235.1M)
($229.3M)
Net income (loss) before income taxes
($126.4M)
($221.2M)
Income tax (benefit) expense
($92.6M)
$800.0K
Net income (loss)
($33.8M)
($222.0M)
Basic
-$0.39
-$2.67
Diluted
-$0.39
-$2.67
Basic
86.8M
83.1M
Diluted
86.8M
83.1M
Calumet Inc income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Sales
$1.4B
$1.0B
$1.1B
$1.0B
Cost of sales
$1.4B
$1.1B
$704.3M
$1.1B
Gross profit (loss)
$18.3M
($87.5M)
$373.7M
($43.6M)
Selling
$13.5M
$12.3M
$10.9M
$12.2M
General and administrative
$39.4M
$66.0M
$31.4M
$41.1M
Gain on sale of business
$0
—
$6.4M
—
Other operating expense
$5.4M
$5.5M
$2.1M
$4.1M
Operating loss
($40.0M)
($171.3M)
$322.9M
($101.0M)
Interest expense
($52.0M)
($51.1M)
($53.6M)
($52.9M)
Debt extinguishment costs
$0
($1.7M)
$500.0K
($100.0K)
Gain (loss) on derivative instruments
($26.0M)
($115.4M)
($1.5M)
$4.3M
Other income (expense)
$900.0K
$1.7M
$3.7M
$2.0M
Total other income (expense)
($77.1M)
($166.5M)
($50.9M)
($46.7M)
Net loss before income taxes
($117.1M)
($337.8M)
$272.0M
($147.7M)
Income tax (benefit) expense
($21.2M)
($20.8M)
($41.4M)
$200.0K
Net loss
($95.9M)
($317.0M)
—
($147.9M)
Basic (in USD per share)
-$1.09
-$3.64
$3.61
-$1.70
Diluted (in USD per share)
-$1.09
-$3.64
$3.61
-$1.70
Basic (in shares)
87.6M
87.0M
86.9M
86.8M
Diluted (in shares)
87.6M
87.0M
86.9M
86.8M
Balance sheet
Calumet Inc balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Cash and cash equivalents
$125.1M
$38.1M
Restricted cash
$80.0M
—
Trade, less allowance for credit losses of $1.1 and $1.1, respectively
$224.4M
$241.7M
Other
$8.1M
$36.4M
Total accounts receivable
$232.5M
$278.1M
Inventories
$385.2M
$416.3M
Derivative assets
$6.7M
—
Prepaid expenses and other current assets
$28.3M
$33.5M
Total current assets
$857.8M
$766.0M
Property, plant and equipment, net
$1.4B
$1.4B
Goodwill
$140.5M
$173.0M
Other intangible assets, net
$8.7M
$22.0M
Operating lease right-of-use assets
$224.2M
$240.2M
Other noncurrent assets, net
$104.7M
$118.2M
Total assets
$2.7B
$2.8B
Accounts payable
$281.5M
$320.8M
Accrued interest payable
$46.1M
$45.4M
Accrued salaries, wages and benefits
$84.6M
$94.7M
Other taxes payable
$17.7M
$11.9M
Current portion of RINs obligation
$169.3M
$245.4M
Current portion of operating lease liabilities
$64.2M
$58.8M
Other current liabilities
$21.1M
$19.1M
Current portion of long-term debt
$156.2M
$35.5M
Total current liabilities
$840.7M
$863.6M
Pension and postretirement benefit obligations
$3.8M
$4.0M
Other long-term liabilities
$92.8M
$110.0M
Long-term operating lease liabilities
$161.4M
$182.2M
Long-term debt, less current portion
$2.1B
$2.1B
Total liabilities
$3.2B
$3.2B
Redeemable noncontrolling interest
$245.6M
$245.6M
Common stock: par value $0.01 per share, 700,000,000 shares authorized, and 86,776,552 and 85,950,493 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively.
$900000.00
$900000.00
Additional paid-in capital
$838.8M
$825.4M
Warrants: 2,000,000 warrants issued and outstanding as of December 31, 2025 and December 31, 2024.
$7.8M
$7.8M
Accumulated deficit
($1.6B)
($1.5B)
Accumulated other comprehensive loss
($6.8M)
($7.0M)
Total stockholders' equity
($732.7M)
($711.9M)
Total liabilities and stockholders' equity
$2.7B
$2.8B
Calumet Inc balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$109.8M
$138.6M
$94.6M
$110.6M
Restricted cash
$40.0M
$40.0M
$80.0M
$80.0M
Accounts receivable, less allowance for credit losses of $1.9 and $1.1, respectively
$417.0M
$358.4M
$278.7M
$305.9M
Inventories
$421.0M
$369.5M
$400.1M
$370.5M
Derivative assets
$0
—
—
—
Prepaid expenses and other current assets
$35.0M
$21.4M
$26.7M
$28.8M
Total current assets
$1.0B
$927.9M
$880.1M
$895.8M
Property, plant and equipment, net
$1.3B
$1.3B
$1.4B
$1.4B
Other noncurrent assets, net
$458.8M
$490.7M
$491.8M
$492.9M
Total assets
$2.8B
$2.8B
$2.7B
$2.8B
Accounts payable
$372.1M
$353.3M
$298.7M
$279.3M
Accrued interest payable
$55.0M
$27.8M
$28.9M
$47.7M
Accrued salaries, wages and benefits
$101.9M
$90.7M
$66.1M
$57.8M
Current portion of RINs obligation
$480.2M
$316.7M
$133.0M
$457.0M
Derivative liabilities
$64.9M
$50.0M
—
—
Other current liabilities
$109.2M
$92.0M
$94.4M
$102.4M
Current portion of long-term debt
$33.5M
$32.6M
$155.2M
$231.8M
Total current liabilities
$1.2B
$963.1M
$776.3M
$1.2B
Other long-term liabilities
$247.3M
$285.1M
$259.9M
$259.0M
Long-term debt, less current portion
$2.2B
$2.3B
$2.1B
$2.1B
Total liabilities
$3.7B
$3.5B
$3.2B
$3.5B
Redeemable noncontrolling interest and other equity instruments
$250.6M
$250.6M
$245.6M
$245.6M
Common stock: par value $0.01 per share, 700,000,000 shares authorized, and 87,843,035 and 86,776,552 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively.
$900000.00
$900000.00
$900000.00
$900000.00
Additional paid-in capital
$854.5M
$845.3M
$838.4M
$837.5M
Warrants: 2,000,000 warrants issued and outstanding December 31, 2025
$0
$7.8M
$7.8M
$7.8M
Accumulated deficit
($2.0B)
($1.9B)
($1.5B)
($1.8B)
Accumulated other comprehensive loss
($6.2M)
($6.8M)
($6.9M)
($7.0M)
Total stockholders' equity
($1.1B)
($1.0B)
($695.3M)
($1.0B)
Total liabilities and stockholders' equity
$2.8B
$2.8B
$2.7B
$2.8B
Cash flow statement
Calumet Inc cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Net income (loss)
($33.8M)
($222.0M)
Depreciation and amortization
$148.8M
$149.0M
Amortization of turnaround costs
$41.0M
$38.0M
Non-cash interest expense
$42.6M
$8.0M
Debt extinguishment costs
$47.4M
$400.0K
RINs gain
($76.1M)
($31.9M)
Unrealized (gain) loss on derivative instruments
($24.1M)
$5.9M
Loss on impairment and disposal of assets
$1.3M
$2.0M
Gain on sale of business
($55.8M)
—
Equity based compensation
($4.5M)
$14.6M
Lower of cost or market inventory adjustment
$16.2M
$7.0M
Other adjustments to reconcile net income (loss) to cash flow from operating activities
$9.0M
($7.0M)
Accounts receivable
$47.0M
$8.0M
Inventories
$14.9M
$16.1M
Prepaid expenses and other current assets
($2.1M)
$17.9M
Turnaround costs
($24.4M)
($20.6M)
Other assets
($2.6M)
($5.6M)
Accounts payable
($52.2M)
$1.7M
Accrued interest payable
$700.0K
($5.2M)
Accrued salaries, wages and benefits
$14.6M
$4.0M
Other taxes payable
$5.7M
($1.6M)
Other liabilities
($4.7M)
($25.1M)
Net cash provided by (used in) operating activities
$108.9M
($46.4M)
Additions to property, plant and equipment
($52.3M)
($76.7M)
Proceeds from sale of business, net
$96.9M
—
Purchases of investments
($500.0K)
—
Net cash provided by (used in) investing activities
$44.1M
($76.7M)
Proceeds from borrowings - revolving credit facility
$2.3B
$2.1B
Repayments of borrowings - revolving credit facility
($2.5B)
($2.0B)
Proceeds from borrowings - MRL revolving credit agreement
$26.6M
$159.1M
Repayments of borrowings - MRL revolving credit agreement
($26.7M)
($172.1M)
Proceeds from borrowings - senior notes
$100.0M
$554.4M
Repayments of borrowings - senior notes
($230.0M)
($592.5M)
Payments on finance lease obligations
($1.0M)
($1.1M)
Proceeds from inventory financing
$362.9M
$671.3M
Payments on inventory financing
($398.1M)
($708.5M)
Proceeds from DOE Loan
$781.8M
—
Proceeds from asset financing arrangements
$160.0M
—
Payments on asset financing arrangements
($61.2M)
—
Repayments of borrowings - MRL Asset Financing Arrangements
($396.1M)
—
Repayments of borrowings - MRL Term Loan Credit Agreement
($86.0M)
—
Debt issuance costs and debt discount
($28.1M)
($9.4M)
Payments on other financing obligations
($5.8M)
($41.5M)
Net cash provided by financing activities
$6.2M
$154.3M
Net increase (decrease) in cash, cash equivalents and restricted cash
$159.2M
$31.2M
Calumet Inc cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net loss
($412.9M)
($317.0M)
—
($309.9M)
Depreciation and amortization
$67.6M
$33.0M
—
—
Amortization of turnaround costs
$19.2M
$8.5M
—
—
Non-cash interest expense
$23.9M
$12.1M
—
—
Debt extinguishment costs
$1.7M
$1.7M
—
—
RINs expense
$310.9M
$147.4M
($112.4M)
$211.6M
Unrealized (gain) loss on derivative instruments
$93.7M
$102.7M
($9.1M)
($7.1M)
Gain on sale of business
$0
—
—
—
Equity based compensation
$44.9M
$37.4M
—
—
Lower of cost or market inventory adjustment
($21.8M)
($26.2M)
—
—
Other adjustments to reconcile net loss to cash flow from operating activities
($200.0K)
$600.0K
$164.5M
$42.0M
Accounts receivable
($185.5M)
($126.4M)
—
—
Inventories
($14.0M)
$41.9M
—
—
Prepaid expenses and other current assets
$3.8M
$7.1M
—
—
Turnaround costs
($18.5M)
($1.8M)
—
—
Other assets
($200.0K)
($22.9M)
—
—
Accounts payable
$101.3M
$57.0M
—
—
Accrued interest payable
$6.2M
($21.0M)
—
—
Accrued salaries, wages and benefits
($13.6M)
($19.5M)
—
—
Other taxes payable
$400.0K
($6.9M)
—
—
Other liabilities
($800.0K)
$6.1M
—
—
Net cash provided by (used in) operating activities
$6.1M
($86.2M)
($7.6M)
($108.0M)
Additions to property, plant and equipment
($51.5M)
($13.2M)
($39.6M)
($31.2M)
Proceeds from sale of business, net
$0
—
$95.4M
$95.4M
Other
($1.5M)
($500.0K)
—
—
Net cash provided by (used in) investing activities
($53.0M)
($13.7M)
$55.8M
$64.2M
Proceeds from borrowings — revolving credit facility
$846.8M
$538.3M
$1.9B
$1.4B
Repayments of borrowings — revolving credit facility
($923.1M)
($537.6M)
($2.0B)
($1.4B)
Proceeds from borrowings — MRL revolving credit agreement
$0
—
$26.6M
$26.6M
Repayments of borrowings — MRL revolving credit agreement
$0
—
($26.7M)
($26.6M)
Proceeds from borrowings — senior notes
$557.7M
$557.7M
$100.0M
$100.0M
Repayments of borrowings — senior notes
($449.4M)
($449.4M)
($230.0M)
($150.0M)
Proceeds from inventory financing
$188.2M
$88.5M
$264.9M
$192.9M
Payments on inventory financing
($193.7M)
($98.2M)
($306.4M)
($213.3M)
Proceeds from DOE Loan
$0
—
$781.8M
$781.8M
Proceeds from asset financing arrangements
$0
—
—
—
Payments on asset financing arrangements
($15.4M)
($7.6M)
—
—
Repayments of borrowings - MRL Asset Financing Arrangements
$0
—
($396.1M)
($368.0M)
Repayments of borrowings - MRL Term Loan Credit Agreement
$0
—
($86.0M)
($73.7M)
Debt issuance costs, debt discounts and premiums
($12.9M)
($12.9M)
—
—
Payments on other financing obligations
($6.6M)
($5.4M)
($88.6M)
($43.0M)
Net cash provided by (used in) financing activities
($8.4M)
$73.4M
$80.5M
$188.5M
Net increase (decrease) in cash, cash equivalents and restricted cash
($55.3M)
($26.5M)
$128.7M
$144.7M
Cash, cash equivalents and restricted cash at beginning of period
$205.1M
$205.1M
$45.9M
$45.9M
Cash, cash equivalents and restricted cash at end of period