Alto Ingredients, Inc. Reports Third Quarter 2026 Results
Tax-credit earnings and debt repayments accompanied lower quarterly gross profit and diluted earnings despite higher sales.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Alto Ingredients (NASDAQ: ALTO) reported third-quarter 2026 net income attributable to common stockholders of $12.7 million, down from a year earlier. Diluted earnings fell to $0.16 per share from $0.19, while sales rose to $257.9 million from $241.0 million. Gross profit declined to $14.8 million from $23.5 million, and adjusted EBITDA, a non-GAAP earnings measure, slipped to $21.0 million from $21.4 million.
Net transferable tax credits generated totaled $7.565 million in the quarter. Alto expects at least $20 million in 2026 tax-credit earnings, net of monetization costs. It repaid $6.5 million on its credit line, bringing year-to-date debt reduction to $26.5 million. Cash was $23.6 million at September 30, with $108 million in borrowing availability. Alto expects its Pekin dry-mill project to deliver higher production capacity by year-end. Nine-month common-stockholder earnings reached $28.048 million, reversing a loss.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointQ3 net sales rose to $257.9 million from $241.0 million a year earlier.
- Moderate pointQ3 net transferable tax credits generated reached $7.565 million, versus none a year earlier.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Alto expects a minimum of $20 million in 2026 tax-credit earnings, net of monetization costs.
- Moderate pointCredit-line repayment of $6.5 million brought year-to-date debt reduction to $26.5 million. 2.4% of market cap
- Moderate pointBorrowing availability stood at $108 million on September 30, 2026.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Alto expects the Pekin dry-mill project to deliver higher production capacity by year-end.
- Moderate pointA first multi-year farmer-cooperative agreement secures part of Pekin's low-carbon corn needs, with tax benefits shared.
- Moderate pointNine-month sales increased to $728.263 million from $685.962 million in 2025.
- Moderate pointNine-month gross profit rose to $40.656 million from $19.750 million in 2025.
- Moderate pointNine-month operating income reached $18.154 million, versus a $0.125 million loss in 2025.
- Moderate pointNine-month common-stockholder income reached $28.048 million, versus a $9.414 million loss; diluted EPS was $0.36 versus $(0.13).
- Moderate pointNine-month adjusted EBITDA rose to $49.298 million from $16.737 million in 2025.
- Moderate pointQ3 average alcohol selling price increased to $2.23 per gallon from $2.09 a year earlier.
- Moderate pointNine-month average alcohol selling price rose to $2.13 per gallon from $1.99 in 2025.
- Moderate pointNine-month ingredient revenue covered 52.8% of corn costs consumed, versus 48.6% in 2025.
11 minor points
- Minor pointQ3 net interest expense fell to $1.520 million from $2.800 million a year earlier.
- Minor pointSeptember 30 cash reached $23.595 million, versus $23.415 million at December 31, 2025.
- Minor pointNine-month net interest expense fell to $5.678 million from $8.340 million in 2025.
- Minor pointQ3 Pekin Campus segment sales rose to $164.507 million from $154.866 million a year earlier.
- Minor pointQ3 Western production segment sales rose to $30.309 million from $25.949 million a year earlier.
- Minor pointQ3 marketing and distribution segment sales rose to $64.667 million from $61.166 million a year earlier.
- Minor pointNine-month Pekin Campus segment sales rose to $476.383 million from $440.920 million in 2025.
- Minor pointNine-month Western production segment sales rose to $84.758 million from $75.575 million in 2025.
- Minor pointNine-month average corn cost declined to $4.70 per bushel from $4.77 in 2025.
- Minor pointQ3 essential ingredients sold increased to 325.1 thousand tons from 319.1 thousand tons a year earlier.
- Minor pointQ3 ingredient revenue covered 53.5% of corn costs consumed, versus 52.5% a year earlier.
Negative
- Moderate pointQ3 common-stockholder income fell to $12.703 million from $13.889 million; diluted EPS declined to $0.16 from $0.19.
- Moderate pointQ3 gross profit declined to $14.801 million from $23.494 million a year earlier.
- Moderate pointQ3 operating income fell to $7.015 million from $16.980 million a year earlier.
- Moderate pointQ3 average corn cost increased to $4.79 per bushel from $4.55 a year earlier.
- Minor pointQ3 adjusted EBITDA declined to $20.953 million from $21.368 million a year earlier.
8 minor points
- Minor pointQ3 selling, general and administrative expenses rose to $7.786 million from $6.514 million a year earlier.
- Minor pointNine-month selling, general and administrative expenses rose to $22.502 million from $19.875 million in 2025.
- Minor pointQ3 alcohol sales volume declined to 89.0 million gallons from 89.2 million a year earlier.
- Minor pointQ3 alcohol production declined to 63.1 million gallons from 63.7 million a year earlier.
- Minor pointNine-month alcohol sales volume fell to 263.4 million gallons from 265.6 million in 2025.
- Minor pointNine-month alcohol production fell to 183.0 million gallons from 185.6 million in 2025.
- Minor pointNine-month essential ingredients sold declined to 909.6 thousand tons from 918.4 thousand tons in 2025.
- Minor pointNine-month marketing and distribution segment sales fell to $171.627 million from $173.248 million in 2025.
News Explained
At September 30, Alto reported 77,571 thousand common shares outstanding versus 77,307 thousand at year-end, reducing the ownership fraction of unchanged holdings.
Alto says it signed its first multi-year agreement with a local farmer cooperative covering supply of a meaningful portion of Pekin Campus’s low-carbon-intensity corn needs and sharing the resulting 45Z benefit with cooperative members.
Common shares outstanding were 77,571 thousand at
Key Figures
- Net sales
- $257.9 million vs. $241.0 million
- Q3 2026 vs. Q3 2025
- Gross profit
- $14.8 million vs. $23.5 million
- Q3 2026 vs. Q3 2025
- Net income attributable to common stockholders
- $12.7 million, or $0.16 per diluted share, vs. $13.9 million, or $0.19 per share
- Q3 2026 vs. Q3 2025
- Adjusted EBITDA
- $21.0 million vs. $21.4 million
- Q3 2026 vs. Q3 2025
- 45Z tax credit earnings
- Minimum $20 million, net of monetization costs
- Expected for 2026
- Debt reduction
- $6.5 million paid down; $26.5 million year to date
- Line of credit
Previous Earnings Reports
-
Reported positive net income and adjusted EBITDA after a prior-year loss.
-
Reported positive net income and adjusted EBITDA, with year-over-year improvement.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
gaap financial
non-gaap financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Q3 2026 Net Income of
Q3 2026 Adjusted EBITDA of
PEKIN, Ill., Nov. 04, 2026 (GLOBE NEWSWIRE) -- Alto Ingredients, Inc. (NASDAQ: ALTO), a leading producer and distributor of renewable fuels, essential ingredients and specialty alcohols, reported its financial results for the quarter ended September 30, 2026.
“We delivered positive gross profit, income from operations, net income and adjusted EBITDA for the third quarter demonstrating the earnings power of our core operations with 45Z tax credit earnings adding to an already solid foundation,” said President and Chief Executive Officer Bryon McGregor. “On the strength of these positive results, we paid down
Added Mr. McGregor, “During the quarter we took a number of actions to increase our 45Z tax credit earnings this year and into 2027. Through our efforts to lower our carbon scores at our Columbia facility and Pekin dry mill, we now expect to generate a minimum of
“Looking ahead, industry tailwinds are supporting healthy ethanol demand and positive crush margins, notably the improved outlook for year-round adoption of E15 in California. With our disciplined operating model working as intended and diversified product portfolio unlocking premium values, we are positioned to take advantage of favorable industry fundamentals today and are executing plans for Alto to grow, drive profitability and build shareholder value.”
Financial Results for the Three Months Ended September 30, 2026 Compared to 2025
- Net sales were
$257.9 million , compared to$241.0 million . - Cost of goods sold was
$243.1 million , compared to$217.5 million . - Gross profit was
$14.8 million , compared to$23.5 million . - Selling, general and administrative expenses were
$7.8 million , compared to$6.5 million . - Interest expense was
$1.5 million , compared to$2.8 million . - Net income attributable to common stockholders was
$12.7 million , or$0.16 per diluted share, compared to$13.9 million , or$0.19 per share. - Adjusted EBITDA was
$21.0 million , compared to$21.4 million .
Cash and cash equivalents at September 30, 2026 were
Third Quarter 2026 Results Conference Call
Management will host a conference call at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on Wednesday, November 4, 2026, and will deliver prepared remarks via webcast followed by a question-and-answer session.
To receive a number and unique PIN by email, register here. To dial directly up to 20 minutes prior to the scheduled call time, please dial (833) 630-0017 domestically and (412) 317-1806 internationally. Alternatively, the webcast for the conference call can be accessed from Alto Ingredients’ website at www.altoingredients.com and will be available for one year.
Use of Non-GAAP Measures
Management believes that certain financial measures not in accordance with generally accepted accounting principles ("GAAP") are useful measures of operations. The company defines Adjusted EBITDA as unaudited consolidated net income (loss) before interest expense, interest income, provision (benefit) for income taxes, asset impairments, unrealized derivative gains and losses, acquisition-related income or expense, excess insurance proceeds and depreciation and amortization expense. A table is provided at the end of this release that provides a reconciliation of Adjusted EBITDA to its most directly comparable GAAP measure, net income (loss). Management provides this non-GAAP measure so that investors will have the same financial information that management uses, which may assist investors in properly assessing the company's performance on a period-over-period basis. Adjusted EBITDA is not a measure of financial performance under GAAP and should not be considered as an alternative to net income (loss) or any other measure of performance under GAAP, or to cash flows from operating, investing or financing activities as an indicator of cash flows or as a measure of liquidity. Adjusted EBITDA has limitations as an analytical tool, and you should not consider this measure in isolation or as a substitute for analysis of the company's results as reported under GAAP.
About Alto Ingredients, Inc.
Alto Ingredients, Inc. (NASDAQ: ALTO) is a leading producer and distributor of renewable fuels, essential ingredients and specialty alcohols. Leveraging the unique qualities of its facilities, the company serves customers in a wide range of consumer and commercial products in the Health, Home & Beauty; Food & Beverage; Industry & Agriculture; Essential Ingredients; and Renewable Fuels markets. For more information, please visit www.altoingredients.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements and information contained in this communication that refer to or include Alto Ingredients’ estimated or anticipated future results or other non-historical expressions of fact are forward-looking statements that reflect Alto Ingredients’ current perspective of existing trends and information as of the date of the communication. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “plan,” “could,” “should,” “estimate,” “expect,” “forecast,” “outlook,” “guidance,” “intend,” “may,” “might,” “will,” “possible,” “potential,” “predict,” “project,” or other similar words, phrases or expressions. Such forward-looking statements include, but are not limited to, statements concerning Alto Ingredients’ expectations around generating Section 45Z tax credit earnings in 2026 and 2027, including the anticipated minimum amount of 2026 credits net of monetization costs, lowering the carbon scores at its Columbia facility and Pekin dry mill, and the benefits of its agreement with a local farmer cooperative and its ability to enter into additional agreements; the expected results of the debottlenecking project at its Pekin dry mill and its other capital projects to expand production capacity, improve process efficiencies and optimize CO2, including exiting the year with higher production capacity and qualifying additional gallons; industry tailwinds, ethanol demand, crush margins and the outlook for year-round adoption of E15, including in California; profitability and opportunities to grow earnings, including through additional gross margin, and build shareholder value; and Alto Ingredients’ other plans, objectives, expectations and intentions. It is important to note that Alto Ingredients’ plans, objectives, expectations and intentions are not predictions of actual performance. Actual results may differ materially from Alto Ingredients’ current expectations depending upon a number of factors affecting Alto Ingredients’ business and plans. These factors include, among others, adverse economic and market conditions, including for renewable fuels, specialty alcohols and essential ingredients, export conditions and international demand, and the anticipated size of the markets and continued demand for Alto Ingredients’ products; fluctuations in the price of and demand for oil and gasoline, and the pace and extent of E15 adoption, including in California; raw material costs, including production input costs, such as corn and natural gas, and adverse impacts of inflation and supply chain constraints, including from tariffs; the impact of competitive products and pricing and the risks and uncertainties normally incident to the alcohol production, marketing and distribution industries; Alto Ingredients’ ability to timely and within budget execute on its optimization and capital projects and to realize the anticipated production capacity increases and other benefits of those projects; Alto Ingredients’ ability to successfully pursue and secure opportunities, and realize the expected results, under existing and new legislation, such as the Section 45Z regulations, including its ability to apply for and receive anticipated credit amounts, achieve anticipated carbon intensity scores and monetize tax credits at the anticipated cost; the ability of Alto Ingredients’ farmer partners to supply low carbon intensity corn as anticipated, and Alto Ingredients’ ability to enter into additional such agreements; regulatory developments and changes in laws, regulations, governmental policies and generally accepted accounting principles, and successful compliance with governmental regulations applicable to Alto Ingredients’ facilities, products and/or businesses; the inherent uncertainty associated with financial and other projections; the loss of key senior management or staff; and other events, factors and risks previously and from time to time disclosed in Alto Ingredients’ filings with the Securities and Exchange Commission, including, specifically, those factors set forth in the “Risk Factors” section contained in Alto Ingredients’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 7, 2026. Alto Ingredients undertakes no obligation to update or revise any forward-looking statement, whether because of new information, future events or otherwise, except as required by law.
Company IR and Media Contact:
Michael Kramer, Alto Ingredients, Inc., 916-403-2755
Investorrelations@altoingredients.com
IR Agency Contact:
Jody Burfening, Alliance Advisors Investor Relations, 212-838-3777,
Investorrelations@altoingredients.com
| ALTO INGREDIENTS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited, in thousands, except per share data) | ||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||
| Net sales | $ | 257,885 | $ | 240,986 | $ | 728,263 | $ | 685,962 | ||||
| Cost of goods sold | 243,084 | 217,492 | 687,607 | 666,212 | ||||||||
| Gross profit | 14,801 | 23,494 | 40,656 | 19,750 | ||||||||
| Selling, general and administrative expenses | (7,786 | ) | (6,514 | ) | (22,502 | ) | (19,875 | ) | ||||
| Income (loss) from operations | 7,015 | 16,980 | 18,154 | (125 | ) | |||||||
| Transferable tax credits generated, net | 7,565 | — | 16,577 | — | ||||||||
| Interest expense, net | (1,520 | ) | (2,800 | ) | (5,678 | ) | (8,340 | ) | ||||
| Other income (expense), net | (38 | ) | 28 | (59 | ) | (3 | ) | |||||
| Income (loss) before provision for income taxes | 13,022 | 14,208 | 28,994 | (8,468 | ) | |||||||
| Provision for income taxes | — | — | — | — | ||||||||
| Net income (loss) | $ | 13,022 | $ | 14,208 | $ | 28,994 | $ | (8,468 | ) | |||
| Preferred stock dividends | $ | (319 | ) | $ | (319 | ) | $ | (946 | ) | $ | (946 | ) |
| Net income (loss) attributable to common stockholders | $ | 12,703 | $ | 13,889 | $ | 28,048 | $ | (9,414 | ) | |||
| Net income (loss) per share, basic | $ | 0.17 | $ | 0.19 | $ | 0.37 | $ | (0.13 | ) | |||
| Net income (loss) per share, diluted | $ | 0.16 | $ | 0.19 | $ | 0.36 | $ | (0.13 | ) | |||
| Weighted-average shares outstanding, basic | 75,756 | 74,777 | 75,381 | 74,415 | ||||||||
| Weighted-average shares outstanding, diluted | 77,596 | 74,777 | 76,859 | 74,415 | ||||||||
| ALTO INGREDIENTS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited, in thousands, except par value) | |||||
ASSETS | September 30, 2026 | December 31, 2025 | |||
| Current Assets: | |||||
| Cash and cash equivalents | $ | 23,595 | $ | 23,415 | |
| Restricted cash | 2,055 | 2,258 | |||
| Accounts receivable, net | 64,325 | 55,069 | |||
| Inventories | 54,309 | 61,676 | |||
| Transferable tax credits, net | 15,829 | 7,500 | |||
| Derivative instruments | 5,332 | 525 | |||
| Other current assets | 4,261 | 5,474 | |||
| Total current assets | 169,706 | 155,917 | |||
| Property and equipment, net | 195,568 | 198,501 | |||
| Other Assets: | |||||
| Right of use operating lease assets, net | 20,209 | 16,931 | |||
| Intangible assets, net | 6,887 | 7,574 | |||
| Other assets | 10,080 | 9,863 | |||
| Total other assets | 37,176 | 34,368 | |||
| Total Assets | $ | 402,450 | $ | 388,786 | |
| ALTO INGREDIENTS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (unaudited, in thousands, except par value) | ||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | September 30, 2026 | December 31, 2025 | ||||
| Current Liabilities: | ||||||
| Accounts payable | $ | 19,751 | $ | 14,509 | ||
| Accrued liabilities | 18,048 | 16,691 | ||||
| Current portion – long-term debt | — | 16,600 | ||||
| Current portion – operating leases | 5,536 | 4,958 | ||||
| Derivative instruments | 1,242 | 1,067 | ||||
| Other current liabilities | 5,519 | 5,246 | ||||
| Total current liabilities | 50,096 | 59,071 | ||||
| Long-term debt, net | 54,468 | 63,027 | ||||
| Operating leases, net of current portion | 15,606 | 13,012 | ||||
| Other liabilities | 8,826 | 8,435 | ||||
| Total Liabilities | 128,996 | 143,545 | ||||
| Stockholders’ Equity: | ||||||
| Preferred stock, Series A: no shares issued and outstanding as of September 30, 2026 and December 31, 2025 Series B: 927 shares issued and outstanding as of September 30, 2026 and December 31, 2025 | 1 | 1 | ||||
| Common stock, 77,571 and 77,307 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively | 78 | 77 | ||||
| Non-voting common stock, authorized; 1 share issued and outstanding as of September 30, 2026 and December 31, 2025 | — | — | ||||
| Additional paid-in capital | 1,051,959 | 1,051,795 | ||||
| Accumulated other comprehensive income | 5,461 | 5,461 | ||||
| Accumulated deficit | (784,045 | ) | (812,093 | ) | ||
| Total Stockholders’ Equity | 273,454 | 245,241 | ||||
| Total Liabilities and Stockholders’ Equity | $ | 402,450 | $ | 388,786 | ||
Reconciliation of Net Income (Loss) to Adjusted EBITDA
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||
| (in thousands) (unaudited) | 2026 | 2025 | 2026 | 2025 | ||||||||
| Net income (loss) | $ | 13,022 | $ | 14,208 | $ | 28,994 | $ | (8,468 | ) | |||
| Adjustments: | ||||||||||||
| Interest expense, net | 1,520 | 2,800 | 5,678 | 8,340 | ||||||||
| Interest income | (83 | ) | (56 | ) | (249 | ) | (206 | ) | ||||
| Unrealized derivative gains | (194 | ) | (1,841 | ) | (4,632 | ) | (1,357 | ) | ||||
| Acquisition-related income | — | — | — | (460 | ) | |||||||
| Depreciation and amortization expense | 6,688 | 6,257 | 19,507 | 18,888 | ||||||||
| Total adjustments | 7,931 | 7,160 | 20,304 | 25,205 | ||||||||
| Adjusted EBITDA | $ | 20,953 | $ | 21,368 | $ | 49,298 | $ | 16,737 | ||||
Sales and Operating Metrics (unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||
| Alcohol Sales (gallons in millions) | |||||||||||
| Pekin Campus renewable fuel gallons sold | 32.0 | 31.6 | 94.8 | 93.1 | |||||||
| Western production renewable fuel gallons sold | 9.1 | 8.1 | 26.7 | 24.7 | |||||||
| Third party renewable fuel gallons sold | 26.4 | 27.1 | 73.9 | 81.2 | |||||||
| Total renewable fuel gallons sold | 67.5 | 66.8 | 195.4 | 199.0 | |||||||
| Specialty alcohol gallons sold | 21.5 | 22.4 | 68.0 | 66.6 | |||||||
| Total gallons sold | 89.0 | 89.2 | 263.4 | 265.6 | |||||||
| Sales Price per Gallon | |||||||||||
| Pekin Campus | $ | 2.16 | $ | 2.05 | $ | 2.08 | $ | 1.97 | |||
| Western production | $ | 2.28 | $ | 2.14 | $ | 2.18 | $ | 2.03 | |||
| Marketing and distribution | $ | 2.35 | $ | 2.17 | $ | 2.22 | $ | 2.04 | |||
| Average sales price per gallon | $ | 2.23 | $ | 2.09 | $ | 2.13 | $ | 1.99 | |||
| Alcohol Production (gallons in millions) | |||||||||||
| Pekin Campus | 53.7 | 55.5 | 156.7 | 160.8 | |||||||
| Western production | 9.4 | 8.2 | 26.3 | 24.8 | |||||||
| Total production gallons | 63.1 | 63.7 | 183.0 | 185.6 | |||||||
| Corn Cost per Bushel | |||||||||||
| Pekin Campus | $ | 4.62 | $ | 4.44 | $ | 4.55 | $ | 4.64 | |||
| Western production | $ | 5.85 | $ | 5.36 | $ | 5.66 | $ | 5.67 | |||
| Average cost per bushel | $ | 4.79 | $ | 4.55 | $ | 4.70 | $ | 4.77 | |||
| Average Market Metrics | |||||||||||
| PLATTS ethanol price per gallon | $ | 2.01 | $ | 1.84 | $ | 1.89 | $ | 1.76 | |||
| CME Corn cost per bushel | $ | 4.78 | $ | 4.01 | $ | 4.53 | $ | 4.41 | |||
| Board corn crush per gallon (1) | $ | 0.30 | $ | 0.41 | $ | 0.27 | $ | 0.19 | |||
| Essential Ingredients Sold (in thousand tons) | |||||||||||
| Pekin Campus: | |||||||||||
| Distillers grains | 86.8 | 91.3 | 235.4 | 252.2 | |||||||
| CO2 | 55.6 | 55.6 | 144.1 | 146.0 | |||||||
| Corn wet feed | 30.0 | 22.9 | 86.2 | 86.1 | |||||||
| Corn dry feed | 25.0 | 27.1 | 70.7 | 72.3 | |||||||
| Corn oil and germ | 19.2 | 19.5 | 56.4 | 58.0 | |||||||
| Syrup and other | 10.2 | 9.7 | 31.3 | 29.7 | |||||||
| Corn meal | 10.1 | 9.8 | 27.8 | 27.5 | |||||||
| Yeast | 5.9 | 6.3 | 17.9 | 18.5 | |||||||
| Total Pekin Campus essential ingredients sold | 242.8 | 242.2 | 669.8 | 690.3 | |||||||
| Western production: | |||||||||||
| Distillers grains | 65.4 | 59.2 | 192.5 | 179.2 | |||||||
| CO2 | 15.4 | 16.1 | 42.7 | 43.0 | |||||||
| Corn oil | 0.9 | 0.9 | 2.6 | 3.2 | |||||||
| Syrup and other | 0.6 | 0.7 | 2.0 | 2.7 | |||||||
| Total Western production essential ingredients sold | 82.3 | 76.9 | 239.8 | 228.1 | |||||||
| Total Essential Ingredients Sold | 325.1 | 319.1 | 909.6 | 918.4 | |||||||
| Essential ingredients return % (2) | |||||||||||
| Pekin Campus return | |||||||||||
| Western production return | |||||||||||
| Consolidated total return | |||||||||||
________________
(1) Assumes corn conversion of 2.80 gallons of alcohol per bushel of corn.
(2) Essential ingredients revenues as a percentage of total corn costs consumed.
Segment Financials (unaudited, in thousands)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||
| Net Sales | ||||||||||||
| Pekin Campus production: | ||||||||||||
| Alcohol sales | $ | 114,482 | $ | 109,276 | $ | 336,802 | $ | 310,666 | ||||
| Essential ingredient sales | 49,750 | 45,307 | 138,814 | 129,490 | ||||||||
| Intersegment sales | 275 | 283 | 767 | 764 | ||||||||
| Total Pekin Campus sales | 164,507 | 154,866 | 476,383 | 440,920 | ||||||||
| Marketing and distribution: | ||||||||||||
| Alcohol sales | $ | 62,048 | $ | 58,669 | $ | 164,046 | $ | 165,910 | ||||
| Intersegment sales | 2,619 | 2,497 | 7,581 | 7,338 | ||||||||
| Total marketing and distribution sales | 64,667 | 61,166 | 171,627 | 173,248 | ||||||||
| Western production: | ||||||||||||
| Alcohol sales | $ | 20,759 | $ | 17,419 | $ | 58,238 | $ | 50,218 | ||||
| Essential ingredient sales | 9,056 | 8,017 | 25,179 | 24,076 | ||||||||
| Intersegment sales | 494 | 513 | 1,341 | 1,281 | ||||||||
| Total Western production sales | 30,309 | 25,949 | 84,758 | 75,575 | ||||||||
| Corporate and other | 1,790 | 2,298 | 5,184 | 5,602 | ||||||||
| Intersegment eliminations | (3,388 | ) | (3,293 | ) | (9,689 | ) | (9,383 | ) | ||||
| Net sales as reported | $ | 257,885 | $ | 240,986 | $ | 728,263 | $ | 685,962 | ||||
| Cost of goods sold: | ||||||||||||
| Pekin Campus production | $ | 154,978 | $ | 135,942 | $ | 447,898 | $ | 431,669 | ||||
| Marketing and distribution | 60,718 | 56,738 | 160,159 | 160,904 | ||||||||
| Western production | 27,696 | 24,447 | 80,402 | 72,719 | ||||||||
| Corporate and other | 1,404 | 2,063 | 3,450 | 5,449 | ||||||||
| Intersegment eliminations | (1,712 | ) | (1,698 | ) | (4,302 | ) | (4,529 | ) | ||||
| Cost of goods sold as reported | $ | 243,084 | $ | 217,492 | $ | 687,607 | $ | 666,212 | ||||
| Gross profit: | ||||||||||||
| Pekin Campus production | $ | 9,529 | $ | 18,924 | $ | 28,485 | $ | 9,251 | ||||
| Marketing and distribution | 3,949 | 4,428 | 11,468 | 12,344 | ||||||||
| Western production | 2,613 | 1,502 | 4,356 | 2,856 | ||||||||
| Corporate and other | 386 | 235 | 1,734 | 153 | ||||||||
| Intersegment eliminations | (1,676 | ) | (1,595 | ) | (5,387 | ) | (4,854 | ) | ||||
| Gross profit as reported | $ | 14,801 | $ | 23,494 | $ | 40,656 | $ | 19,750 | ||||
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Alto Ingredients' third-quarter 2026 earnings and sales?
Alto reported $12.7 million in net income attributable to common stockholders, or $0.16 per diluted share, on sales of $257.9 million. A year earlier, common-stockholder income was $13.9 million, or $0.19 per share, on sales of $241.0 million.
How much does Alto Ingredients expect to earn from 2026 tax credits?
Alto expects a minimum of $20 million in 2026 tax-credit earnings, net of monetization costs. The company linked that expectation to efforts to lower carbon scores at its Columbia facility and Pekin dry mill.
How does Alto Ingredients' farmer-cooperative agreement support its tax-credit plans?
The multi-year agreement supplies a portion of the Pekin campus's low-carbon-intensity corn needs and shares the resulting 45Z tax benefit with cooperative members. Alto is working on additional agreements.