Calumet vs Global Partners

This page compares Calumet and Global Partners, outlining their business models, financial performance, and market context. It provides a neutral, accessible overview of how each company operates, how profits and cash flows are reported, and the external factors shaping strategy. Educational content, not financial advice.

Comparison Snapshot

Key Financial Metrics

CLMT

Metric

GLP

$1.79B

Market Cap

$1.51B

5.17%

Potential Profit

-0.18%

Buy

Analyst Rating

Hold

Investment Analysis

Calumet

CLMT

Pros

Successfully raised $325 million through 8.125% Senior Notes to strengthen liquidity and capital structure.
Strategic investment in renewable diesel through Montana Renewables subsidiary with $300 million convertible debt and $145 million preferred equity enhances green energy positioning.
Robust specialty products segment with record margins and expanded partnership with Univar Solutions to distribute specialty oils in Europe.

Considerations

Negative profitability indicators with recent negative earnings per share and profit margin under -8%, reflecting ongoing operational challenges.
High leverage with net debt exceeding $1.2 billion and net debt to adjusted EBITDA ratio above 4, indicating substantial financial risk.
Supply chain disruptions, such as additive shortages, have constrained production capacity in lubricant segments, limiting growth potential.

Global Partners

GLP

Pros

Stable historical unit price near $45, reflecting relative market stability among downstream energy marketers.
Diverse fuel supply and convenience retail business model offers broad customer base and consistent revenue streams.
Operating in a regionally strong market with infrastructure enabling efficient supply chain and distribution network.

Considerations

Exposure to volatile crude and refined product prices can pressure margins and earnings unpredictably.
Competitive pressure from larger integrated energy companies and retail chains could limit growth and pricing power.
Regulatory risk from environmental policies and shifting energy transition trends may require costly compliance and adaptation.

About The Companies

Calumet (CLMT)

Calumet Specialty Products Partners LP is a US-based manufacturer and marketer of a diverse range of specialty hydrocarbon products. The company operates across three main segments: Specialty Products and Solutions, which creates items like waxes, solvents, and customised lubricating oils; Performance Brands, which markets high-performance products under names like Royal Purple and Bel-Ray; and Montana/Renewables. This latter segment is particularly noteworthy as it focuses on processing renewable feedstocks into products such as renewable diesel, sustainable aviation fuel, and renewable hydrogen. By serving both industrial and consumer-facing markets with traditional specialty products alongside a growing renewables business, Calumet holds an interesting position in the energy sector. As with any company, its performance can be influenced by market demand, commodity prices, and regulatory changes, so it's a stock worth understanding fully before making any decisions.

Global Partners (GLP)

Global Partners LP (GLP) is a US-based downstream energy company that distributes and markets petroleum products, operates fuel terminals, provides logistics and has refining interests. Revenue comes from product margins, wholesale distribution and fee-based services across the eastern United States and parts of Canada. As a master limited partnership, GLP has historically offered distributions to unitholders, but payouts depend on cash flow and can vary with refining margins, commodity prices, freight costs and seasonal demand. The business is sensitive to regulatory and environmental developments, interest-rate movements and commodity volatility. With a market capitalisation of about $1.54 billion, GLP may attract investors seeking income exposure to the fuel supply chain, but investors should be aware of operational and market risks. This information is for general education only and not personalised financial advice — consider your objectives and suitability and consult a professional before investing.

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Calumet vs Global Partners

Comparison Snapshot

Investment Analysis

Calumet

Pros

Considerations

Global Partners

Pros

Considerations

About The Companies

Which Baskets Do They Appear In?

Which Baskets Do They Appear In?

Buy CLMT or GLP in Nemo

Zero Commission

Trusted & Regulated

6% Interest on Cash

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Calumet vs Kimbell Royalty Partners

Calumet vs NextDecade

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Frequently asked questions

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What does the term ‘leverage’ mean in the context of these two companies?

How should I interpret ‘negative profitability indicators’ versus ‘stable price levels’?

What is the significance of the renewable energy investments for Calumet?

How might Global Partners’ regional market position affect its earnings potential?

What do ‘record margins’ in Calumet’s speciality products segment imply for readers?

How do supply chain disruptions impact the two stocks differently?

What role do environmental policies play in the outlook for these stocks?

How should I read earnings and profit margins when comparing these two companies?

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Comparison Snapshot

About The Companies