Calumet Specialty Chemicals (CLMT) reported its 3rd quarter results on the 12th of November. The results opened wider a door into its vision and progress toward the balance sheet repair and future promise. We offer our view into the specifics.
The Quarterly Report
Calumet reported $76 million of adjusted EBITDA after excluding non-cash inventory adjustments. It was 34% higher year over year. Operations produced $64 million in cash. The trailing 12 month net debt to EBITDA ratio decreased from 4.6 in the 2nd quarter to 4.2.
The total net debt decreased to $1.28