卡路美 2026年季度报告

CALUMET, INC.QUARTERLY REPORT Part I FORWARD-LOOKING STATEMENTS This Quarterly Report on Form10-Q (this “Quarterly Report”) includes certain “forward-lookingstatements.” These statements can be identified by the use of forward-looking terminology including“will,” “may,” “intend,” “believe,” “expect,” “outlook,” “anticipate,” “estimate,” “continue,” “plan,”“should,” “could,” “would,” or other similar words. The statements regarding (i) demand for finishedproducts in markets we serve; (ii)estimated capital expenditures as a result of required audits or requiredoperational changes or other environmental and regulatory liabilities; (iii)our anticipated levels of, use andeffectiveness of derivatives to mitigate our exposure to crude oil price changes, natural gas price changesand fuel products price changes; (iv)estimated costs of complying with the U.S. Environmental ProtectionAgency’s(“EPA”)Renewable Fuel Standard(“RFS”),including the prices paid for RenewableIdentification Numbers (“RINs”) and the amount of RINs we may be required to purchase in any givencomplianceyear, and the outcome of any litigation concerning our existing small refinery exemption(“SRE”) petitions; (v)our ability to monetize federal clean fuel production tax credits (“CFPCs” underSection 45Z of the Internal Revenue Code and the price we expect to receive for CFPCs; (vi) our ability tomeet our financial commitments, debt service obligations, debt instrument covenants, contingencies andanticipated capital expenditures; (vii)our access to capital to fund capital expenditures and our workingcapital needs and our ability to obtain debt or equity financing on satisfactory terms; (viii)our access to inventory financing under our supply and offtake agreements; (ix)the effect, impact, potential duration orother implications of supply chain disruptions and global energy shortages on our business and operations;(x) general economic and political conditions, including inflationary pressures, changes in global tradepolicy and tariffs, instability in financial institutions, the shutdown of the U.S. federal government, generaleconomic slowdown or a recession, political tensions, conflicts and war (such as the ongoing conflicts inUkraine, Venezuela and the Middle East and their regional and global ramifications); (xi)the futureeffectiveness of our information technology planning systems to further enhance operating efficiencies andprovide more effective management of our business operations; (xii) our expectation regarding ourbusiness outlook with respect to the Montana Renewables business; (xiii) ability to maintain an effectivesystem of internal controls; (xiv) the expected benefits of the Conversion (as defined herein) to us and ourstockholders; (xv) our expectation that the DOE Loan (as defined herein) will enable MRL (as defined PART I Table of Contents CALUMET, INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE Three Months EndedMarch31,20262025Net loss$(317.0)$(162.0) See accompanying notes to unaudited condensed consolidated financial statements. See accompanying notes to unaudited condensed consolidated financial statements. CALUMET, INC.NOTESTO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1. Description of the Business Calumet, Inc. (the “Company” or “Calumet”) is a publicly traded Delaware corporation.TheCompany manufactures, formulates, and markets a diversified slate of specialty branded products andrenewable fuels to customers in various consumer-facing and industrial markets. Calumet is headquartered The unaudited condensed consolidated financial statements of the Company as of March31,2026 andfor the three months ended March31,2026 and 2025, included herein have been prepared, without audit,pursuant to the rulesand regulations of the Securities and Exchange Commission (“SEC”). Certaininformation and disclosures normally included in the consolidated financial statements prepared inaccordance with generally accepted accounting principles (“GAAP”) in the U.S. have been condensed oromitted pursuant to such rulesand regulations, although the Company believes that the followingdisclosures are adequate to make the information presented not misleading. The preparation of theunaudited condensed consolidated financial statements in conformity with GAAP requires management tomake estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of 2. Summary of Significant Accounting Policies Reclassifications Certain amounts in the prioryears’ unaudited condensed consolidated financial statements have beenreclassified to conform to the currentyear presentation. Cash and Cash Equivalents and Restricted Cash Cash and cash equivalents and restricted cash include all highly liquid investments with a maturity ofthreemonths or less at the time of purchase. Cash and cash equivalents are deposited primarily in bankinginstitutions with global operations. We have not experienced any