Welcome to our dedicated page for Alto Ingredients news (Ticker: ALTO), a resource for investors and traders seeking the latest updates and insights on Alto Ingredients stock.
Alto Ingredients, Inc. reports developments in its business as a producer and distributor of specialty alcohols, renewable energy products and essential ingredients. Company news commonly covers quarterly and annual results, crush margins, export sales, renewable fuel volumes, product-mix decisions and the effect of Section 45Z tax credits on earnings.
Updates also address strategic realignment, plant utilization and reliability, capital and optimization projects, cost structure, and efforts to monetize biogenic CO2 and liquid CO2 capacity. Governance items, such as board changes, and conference or earnings-call announcements round out the recurring disclosure themes for ALTO.
Alto Ingredients (NASDAQ: ALTO) reported its Q2 2024 results. Net sales were $236.5M, down from $317.3M in Q2 2023. The Cost of goods sold was $228.9M versus $300.1M. The gross profit stood at $7.6M, down from $17.2M. The company saw a net loss of $3.4M or $0.05/share, compared to a net income of $7.2M or $0.10/share in Q2 2023.
Adjusted EBITDA was negative $5.9M, compared to positive $14.0M. Cash reserves were $27.1M as of June 30, 2024. The Pekin Campus delivered over $10M in gross profit despite $5M in expenses related to planned outages, up from $4M in Q1 2024. The company plans to achieve positive Adjusted EBITDA for Q3 if current margins are maintained.
Alto Ingredients, Inc. (NASDAQ: ALTO), the largest producer of specialty alcohols in the United States, has announced the release of its second quarter 2024 financial results on August 6, 2024, after market close. The company will host a conference call at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on the same day, featuring prepared remarks via webcast followed by a Q&A session.
Investors can participate by listening to the webcast on Alto Ingredients' website or by registering for a unique PIN to dial in. A replay of the webcast will be available on the company's website for one year, and a telephonic replay will be accessible from August 6 to August 13, 2024.
Alto Ingredients, Inc. reported improved financial results for Q1 2024 compared to Q1 2023, with gross profit up by $0.8 million, net loss reduced by $1.4 million, and Adjusted EBITDA increased by $3.4 million. The company's strategies to diversify revenue, improve capacity utilization rates, reduce costs, and expand operating margins are yielding positive results. However, weather factors impacted performance negatively, with increased transportation expenses and lower margin feed products due to cold spikes and energy hedging losses. The company's outlook for 2024 remains favorable, supported by solid corn inventories, increased export demand for ethanol, and EPA waivers for 15% ethanol blends. Additionally, Alto is progressing with its strategic carbon capture and storage initiative to reduce carbon footprint and has entered into a partnership with Vault 44.01 for CO2 storage.
Alto Ingredients, Inc., a renewable fuel and essential ingredients producer, and the largest specialty alcohols producer in the US, will release its first quarter 2024 financial results on May 6, 2024. The company will host a conference call and webcast after market close on the same day, providing an opportunity for investors to gain insights into its performance.
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