Calumet, Inc. (NASDAQ:CLMT) Q2 2024 Earnings Conference Call August 9, 2024 9:00 AM ET

Company Participants

John Kompa - Director, IR
Todd Borgmann - CEO
David Lunin - EVP and CFO
Bruce Fleming - EVP, Montana Renewables and Corporate Development
Scott Obermeier - EVP, Specialties

Conference Call Participants

Roger Read - Wells Fargo
Saumya Jain - UBS
Neil Mehta - Goldman Sachs
Amit Dayal - H.C. Wainwright
Gregg Brody - Bank of America
Jason Gabelman - TD Cowen

Operator

Good morning everyone, and welcome to the Calumet, Inc.'s Second Quarter 2024 Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please also note today's event is being recorded.

At this time, I'd like to turn the floor over to John Kompa, Investor Relations for Calumet. Sir, please go ahead.

John Kompa

Thanks Edmond. Good morning everyone. Thank you for joining us today for our second quarter 2024 earnings call. With me on today's call are Todd Borgmann, CEO; David Lunin, EVP and Chief Financial Officer; Bruce Fleming, EVP of Montana Renewables and Corporate Development; and Scott Obermeier, EVP of Specialties.

You may now download the slides that accompany remarks made on today's conference call. These can be accessed on the Investor Relations' section of our website at calumet.com. Also, a webcast replay of this call will be available on our site within a few hours.

Turning to the presentation, on Slide 2, you can find our cautionary statements. I'd like to remind everyone that during the call we may provide various forward-looking statements. Please refer to our press release that was issued this morning as well as our latest filings with the SEC for a list of factors that may affect our actual results and cause them to differ from our expectations.

With that, I'll now pass the call to Todd.

Todd Borgmann

Thank you, John and welcome to the first earnings call of our new Calumet, Inc. Since our last call, 99% of our voting unitholders elected to convert Calumet Specialty Products Partners, L.P. to a C-Corporation. And on July 10th, Calumet, Inc. commenced trading on the NASDAQ.

Thank you to all of our former unitholders and current shareholders for your support. And one last thanks to the former General Partner in Conflicts Committee for a thorough and thoughtful process.

Now, to the second quarter. Let's turn to Slide 3. Calumet generated $66.8 million of adjusted EBITDA in the second quarter. Before we dive into the numbers, I'd like to touch on Calumet's overall strategy and the substantial progress our team has made since our last discussion.