This article first appeared on GuruFocus.

Calumet Inc (NASDAQ:CLMT) is set to release its Q3 2025 earnings on Nov 7, 2025. The consensus estimate for Q3 2025 revenue is $1.05 billion, and the earnings are expected to come in at -$0.38 per share. The full year 2025's revenue is expected to be $4.12 billion and the earnings are expected to be -$4.29 per share. More detailed estimate data can be found on the Forecast page.

Warning! GuruFocus has detected 8 Warning Signs with CLMT.

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Revenue estimates for Calumet Inc (NASDAQ:CLMT) have increased from $3.98 billion to $4.12 billion for the full year 2025 and increased from $4.04 billion to $4.25 billion for 2026 over the past 90 days. Earnings estimates have declined from -$2.72 per share to -$4.29 per share for the full year 2025, while for 2026, they have increased from -$0.40 per share to -$0.24 per share over the past 90 days.

In the previous quarter ending 2025-06-30, Calumet Inc's (NASDAQ:CLMT) actual revenue was $1.03 billion, which beat analysts' revenue expectations of $0.93 billion by 10.96%. Calumet Inc's (NASDAQ:CLMT) actual earnings were -$1.70 per share, which missed analysts' earnings expectations of -$0.35 per share by -382.95%. After releasing the results, Calumet Inc (NASDAQ:CLMT) was down by -3.62% in one day.

Based on the one-year price targets offered by 4 analysts, the average target price for Calumet Inc (NASDAQ:CLMT) is $20.31 with a high estimate of $33.00 and a low estimate of $13.25. The average target implies an upside of 4.22% from the current price of $19.49.

Based on GuruFocus estimates, the estimated GF Value for Calumet Inc (NASDAQ:CLMT) in one year is $15.00, suggesting a downside of -23.04% from the current price of $19.49.

Based on the consensus recommendation from 6 brokerage firms, Calumet Inc's (NASDAQ:CLMT) average brokerage recommendation is currently 2.3, indicating an \\"Outperform\\" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.