Calumet Inc. stock reaches new 52-week high as Q2 2026 revenue jumps above estimates

Calumet Inc. stock (ISIN US13146E1082) is trading close to a new 52-week high around mid-session on September 2, 2026, after the specialty fuels and chemicals producer reported second-quarter 2026 revenue of 1.44 billion USD, clearly ahead of Wall Street estimates.

Q2 2026 results lift expectations despite earnings miss

According to a detailed overview by Investing, Calumet Inc. generated revenue of 1.44 billion USD in the second quarter of 2026, beating the cited analyst estimate of 1.11 billion USD and thus coming in about 29.7 percent above expectations for the period.

The same source reports that adjusted EBITDA in Q2 2026 reached 175 million USD, while operating cash flow exceeded 90 million USD, underlining that the refinery and specialty products portfolio currently generates meaningful cash despite the reported loss per share.

On the earnings side, adjusted earnings for Q2 2026 amounted to a loss of 1.09 USD per share, whereas analysts had expected a profit of 0.17 USD per share, meaning that adjusted EPS undershot the market consensus by 1.26 USD per share for the quarter.

Share price near fresh 52-week high with strong 12-month gains

Market data compiled by Investing show that Calumet Inc. shares recently touched a 52-week high of 51.51 USD and were last quoted at 51.43 USD, giving the company a market capitalization of about 4.5 billion USD as of September 1, 2026.

Over the past twelve months, the same stock overview notes that Calumet Inc. shares have gained 207.95 percent, while the year-to-date performance stands at 150 percent, indicating that the stock has dramatically outperformed many broader market indices over that timeframe.

A separate quote snapshot from Yahoo Finance on September 2, 2026, shows Calumet, Inc. trading at 50.91 USD intraday, up 2.37 percent on the day by 1:38 PM Eastern time, which places the current price only modestly below the reported 52-week high.

Analyst sentiment and valuation snapshot

An analyst consensus summary compiled by MarketBeat on September 2, 2026, indicates that Calumet Inc. currently carries an average rating of Hold, with several covering analysts highlighting both the upside from specialty products and the risks from leverage and earnings volatility.

According to the same analyst overview, the average 12-month price target for Calumet Inc. stands at 48 USD, which is modestly below the reported recent opening price of 51.52 USD, suggesting that, on average, analysts see limited upside from current levels based on their published models.

One assessment referenced in the consensus notes that TD Cowen previously raised its price objective on Calumet from 34 USD to 40 USD in an earlier research update, while still maintaining a Hold stance on the stock, illustrating that some of the re-rating has already occurred in prior months.

A separate valuation review from GuruFocus applies the proprietary GF Value metric and estimates a fair value of 18.36 USD per share for Calumet Inc., concluding that the stock trades about 180.4 percent above this modeled fair value at a cited trading price of 51.49 USD.

Renewable fuels and specialty products as growth drivers

Calumet Inc. has strategically expanded into renewable fuels and sustainable aviation fuel in recent years, positioning its MaxSAF product line and related projects as a key growth driver alongside its established specialty hydrocarbon products portfolio.

In this context, investor attention increasingly centers on how much of the 175 million USD adjusted EBITDA reported for Q2 2026 stems from higher-margin specialty and renewable operations versus more cyclical fuels, because margin mix could help determine whether the strong revenue beat eventually translates into sustainable earnings growth.

For long-term investors, the combination of a 207.95 percent twelve-month share price increase and a 150 percent gain year-to-date, as reported by Investing for September 1, 2026, underlines that expectations for Calumet Inc.'s transition and growth projects are already embedded in the current valuation.

Representative product: MaxSAF sustainable aviation fuel

One of Calumet Inc.'s flagship offerings in the energy transition space is its MaxSAF sustainable aviation fuel product line, which targets airlines and aviation customers seeking to reduce lifecycle carbon emissions while maintaining performance and compatibility with existing jet engines.

While detailed segment figures for MaxSAF are not broken out in the cited Q2 2026 snapshot, the strong overall revenue of 1.44 billion USD and adjusted EBITDA of 175 million USD for the quarter provide an indication that renewable and specialty product contributions are becoming more meaningful in the company mix.

Calumet Inc. stock price snapshot for investors

Based on intraday data from Yahoo Finance on September 2, 2026, Calumet Inc. stock last traded at 50.91 USD on Nasdaq, representing an intraday gain of 2.37 percent, after having reached a 52-week high of 51.51 USD and delivering a 207.95 percent share price increase over the past year.

Key data on Calumet Inc. stock

• Company: Calumet Inc.
• ISIN: US13146E1082
• Ticker: CLMT
• Trading venue: NASDAQ
• Price (as of September 2, 2026, 13:38): 50.91 USD
• Market capitalization: 4.5 billion USD (as of September 1, 2026)
• Sector / Industry: Energy / Specialty Chemicals and Refining
• Index membership: Not member of major headline indices