Calumet (CLMT) Q1 FY26 earnings call

Calumet navigated a strategically pivotal quarter marked by a favorable renewable fuels market outlook following the EPA's Set 2 RVO and strong commodity spreads. Despite operational challenges at Shreveport and planned expansion work at Montana Renewables, the company is well-positioned to capture tailwinds, accelerate deleveraging, and pursue long-term growth. The MaxSAF 150 expansion is now operational, and the Specialties business demonstrated resilience in a volatile cost environment.