On this page of StockholderLetter.com we present the latest annual shareholder letter from Calumet, Inc. /DE — ticker symbol CLMT. Reading current and past CLMT letters to shareholders can bring important insights into the investment thesis.

 •  4/20/2026 Letter Continued (Full PDF)
 •  4/28/2025 CLMT Stockholder Letter
 •  More "Oil & Gas Refining & Marketing" Category Stockholder Letters
 •  CLMT Benford's Law Stock Score = 75

CLMT Shareholder/Stockholder Letter Transcript:

2025
ANNUAL
REPORT

ABOUT CALUMET
MET
Calumet delivers high-quality
ty products and services to customers around the world.
Calumet manufactures, formulates
mulates and markets a diversified slate of specialty branded
products and renewable fuels
customers
consumer-facing
els to c
stomers across a broad range of cons
mer facing
and industrial markets.
Headquartered in Indianapolis, Indiana, over 1,500 team members operate at
12 specialty product manufacturing and production facilities across North America.
Calumet products are available in more than 80 countries across the world, serving
approximately 2,400 customers globally.
Specialty Products
and Solutions
REFINED PRODUCTS
Performance
Brands
LUBRICANTS, GREASES &
ENGINEERED FUEL
Montana
Renewables   
RENEWABLE ENERGY
PRODUCTS
CALUMET
BY THE
NUMBERS
4.1B+
ANNUAL
SALES
83.9K
WAXES
ROYAL
PURPLE   
TRUFUEL   
SPK
L
SPECIALTY
OILS
ESTERS
FUELS &
ASPHALTS
BEL-RAY  
1.5K
EMPLOYEES
NATIONWIDE
VATE LABE
RI
12
SOLVENTS
UNIQUE
PRODUCTS
(Sustainable Aviation Fuel)
P
BASE OILS
PRODUCTION
BPD
1.9K+
PRIVATE
LABEL
~80
RENEWABLE DIESEL
PRODUCTION
FACILITIES
COUNTRIES
SERVED
RENEWABLE NAPHTHA
2.4K
100+
GLOBAL
CUSTOMERS
INNOVATING   TRANSFORMING   INTEGRATING
YEARS IN
BUSINESS

4/20/2026 Letter Continued (Full PDF)

 

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