Calumet shares rise on EPA exemptions and improved earnings estimates

Calumet, Inc. shares rose following news that the U.S. Environmental Protection Agency (EPA) granted the company full exemptions on two refinery petitions for the 2025 compliance year. These exemptions allow the company to avoid blending specific amounts of renewable fuels or purchasing renewable identification numbers (RINs). As a result, Calumet expects to remove 71 million RINs from its balance sheet, leaving 129 million RINs valued at approximately $309 million.

In related financial news, HC Wainwright has increased its Q3 2026 earnings per share estimate for Calumet to $0.62, up from a previous forecast of $0.60. The firm maintains a “Buy” rating with a $75.00 price target. Other financial institutions have also adjusted their outlooks, including Goldman Sachs and UBS, which recently raised their price targets for the company.