Filing Flows › Calumet (CLMT) › Q3 2026
Calumet (CLMT) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 6, 2026
Calumet (CLMT) reported revenue of $1.7B for the third quarter 2026 (Q3 2026), +56% from a year earlier and +16% from the quarter before. Operating margin was 27.0%, net earnings $256M (15.2% of revenue).
Calumet, Q3 2026: revenue $1.7B (+56% year over year), operating margin 27.0%, net earnings $256M, operating cash flow $218M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7B | +16% | +56% |
| Gross profit | $543M | 30× | +45% |
| Operating profit | $454M | — | +41% |
| Net earnings | $256M | — | -18% |
| Operating cash flow | $218M | +137% | +830% |
| Free cash flow | $207M | +283% | — |
What changed
Revenue was $1.7B in Q3 2026, up 56% year over year and up 16% from the previous quarter.
Gross margin was 32.3%, down 2.4 points from Q3 2025. Operating profit was $0.45B, a 27.0% margin (down 3.0 points year over year). Of the extra revenue versus Q3 2025, 22% reached operating profit, below the 30% margin then. Operating expenses grew 76% against revenue growth of 56%. The fastest-growing cost line was General & admin (+123%). Net earnings were $0.26B, down 18% year over year. The effective tax rate was -11.4%.
Operating cash flow was $0.22B (up 830% year over year), 80% of net income including minority interests. Non-cash charges added back $0.04B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items used $0.13B. Capital expenditures of $0.01B left free cash flow of $0.21B.
Questions
What was Calumet's revenue in the third quarter 2026?
Calumet (CLMT) reported revenue of $1.7B for the third quarter 2026 (Q3 2026), +56% from a year earlier and +16% from the quarter before.
Was Calumet profitable in the third quarter 2026?
Operating profit was $454M (27.0% of revenue) and net earnings $256M.
Source: Calumet 10-Q on SEC EDGAR.