11:18 AM EST, 01/14/2025 (MT Newswires) -- Calumet (CLMT) said Tuesday it expects to report a net loss ranging from $24 million to $54 million in Q4 as seasonal trends affected its fuel and asphalt business.

Analysts polled by FactSet expect a net loss of $52.2 million.

The company also expects Q4 adjusted EBITDA between $45 million and $60 million. Analysts surveyed by FactSet expect $42.5 million.

The seasonal headwinds affecting the fuel and asphalt business are expected to persist in Q1 2025, the company said.

Calumet also said it is prioritizing debt reduction this year and expects to pay down all of its 2026 notes.

Shares of the company were down more than 9% in recent trading.

Price: 19.69, Change: -2.31, Percent Change: -10.50