Calumet rises 1.4% as it schedules third-quarter results for November

What happened

Calumet (CLMT) rose 1.4% on October 5, 2026, after the company said it will report third-quarter 2026 results on November 6, 2026, and hold a conference call that day at 9:00 AM ET. Trading that session was an ordinary one for the stock. The S&P 500 rose 0.7% on the day, and the Basic Materials sector median rose 0.5%; Calumet’s gain was 0.9 percentage points better than the sector median.

How big was the move

The stock closed at $56.03 after opening 0.3% below the previous close, and trading volume was 0.8 times its 20-day average. Over the last five sessions Calumet rose 6.5%, versus the S&P 500’s rise of 1.2% in the same period. The session’s change was 0.4 times a typical daily move for this stock and the company has a beta of 0.69, indicating the stock tends to move less than the market.

Overall, the price action matched what the market usually shows for the name: modest intraday moves but stronger gains over recent weeks. The five-session advance highlights momentum that outpaced broader market returns over the same period.

The technical picture

Calumet traded 0.7% above its 20-day moving average and 11.7% above its 50-day moving average. The 50-day average is above the 200-day average, a sign of an established uptrend, and the stock has been above its 200-day average for 281 consecutive trading days. The Relative Strength Index (14 days) is 60, in a neutral range between 30 and 70, and the share price is 6.4% below its 52-week high.

Shorter-term momentum has been strong: the stock rose 4.7% over one month and 50.7% over three months. Over one year the stock rose 203.9% and is 188.1 percentage points ahead of the S&P 500. Volatility is 49% annualized over 60 days, which is lower than 57% of its own readings over five years, suggesting recent price swings are less extreme than some past periods.

Fundamentals and valuation

For the four quarters through June 30, 2026, Calumet reported revenue of $4.59 billion, which grew 12.8% from a year earlier. Revenue slipped by 0.1% from the prior quarter. Diluted earnings per share were $-1.55 and gross margin improved to 6.6% from 0.9% a year earlier. Operating margin was 1.1% versus 4.5% a year earlier, and free-cash-flow margin was 3.3%. Return on invested capital was 1.5%.

The balance sheet shows net debt of 86.3 times EBITDA, and share count over one year increased by 0.9%. Free-cash-flow yield is 3.1%. Those figures present a mixed picture: revenue growth and an improving gross margin contrast with negative earnings, very high leverage and modest cash returns to shareholders.

PromtFinance scores reflect that mix. Growth is 86 (Strong) and Momentum is 100 (Exceptional), while Value is 32 (Weak), Quality is 22 (Very weak), Revisions is 1 (Very weak) and Stability is 31 (Weak). Together, the scores signal rapid growth and strong price momentum but persistent concerns on profitability, balance-sheet strength and analyst sentiment.

Earnings and analyst expectations

Calumet said it will report third-quarter 2026 results on November 6, 2026. The last report, on August 7, 2026, showed earnings per share of $-1.09 against $0.07 expected, 1717.0% below estimates. The typical two-day reaction after recent reports was the stock fell 2.5%. The company has had zero consecutive quarters beating estimates and an average surprise over the last four reports of 100.0% below estimates.

Analysts provide a consensus rating of Hold from 23 analysts and a consensus price target of $55.67, which is 0.6% below the closing price. Seventeen percent of analysts rate the stock Buy. Those metrics suggest the market is pricing in a degree of caution ahead of the November report, even as momentum remains unusually strong.

What to watch

• November 6, 2026: Calumet will report third-quarter 2026 results and hold a conference call at 9:00 AM ET.
• August 7, 2026: Last report showed EPS of $-1.09 versus $0.07 expected, 1717.0% below estimates.
• One year performance: rose 203.9% and is 188.1 percentage points ahead of the S&P 500 over one year.
• Balance sheet metric: net debt of 86.3 times EBITDA.
• Trading trends: the stock has been above its 200-day average for 281 consecutive trading days.