What were Calumet's key financial and strategic highlights from its Q2 2026 earnings call?

Calumet reported Adjusted EBITDA with Tax Attributes of $175 million for Q2 2026; restricted group leverage fell below 4x, with a target to reduce it further to below 3x in the next quarter; the company executed debt actions including calling $100 million of 2028 mirror notes and repurchasing $115 million to terminate a truck rack sale-leaseback arrangement; Montana Renewables generated $17 million in Adjusted EBITDA despite operational downtime; and the MaxSAF expansion was reconfigured to a lower-cost plan targeting 120–150 million gallons by spring 2027 and 200 million gallons by 2028.

How did Montana Renewables perform financially in Q2 2026, and what was noted about its operations?

Montana Renewables posted $17 million in Adjusted EBITDA during Q2 2026, despite experiencing downtime, as explicitly stated in the earnings transcript.

Calumet Specialty Products Partners Releases Q2 2026 Earnings Transcript

Aug 11, 2026

Calumet Specialty Products Partners reported $175 million Adjusted EBITDA for Q2 2026 and updated MaxSAF sustainable aviation fuel expansion targets to 200 million gallons by 2028.

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