Alto Ingredients Inc Stock Price, News & Analysis

Alto Ingredients, Inc. (NASDAQ: ALTO) completed the sale of its fuel ethanol production facility in Madera, CA, receiving $19.5 million in cash and $8.8 million in liabilities assumed. The proceeds were used to pay down senior notes, reducing the outstanding balance to just $0.7 million. CEO Mike Kandris noted that this decision will decrease annual interest and idle expenses by over $4 million, allowing the company to focus more on revenue growth.

Alto Ingredients, Inc. reported a net income of $4.4 million or $0.06 per share for the first quarter of 2021, compared to a net loss of $25.4 million in 2020. The company's Adjusted EBITDA reached $13.6 million, a significant improvement from a negative $12.4 million last year. Net sales decreased to $218.7 million from $311.4 million, while the cost of goods sold also decreased. The company announced the sale of its Madera, CA facility for $28.3 million to optimize its ethanol production footprint.

Alto Ingredients, Inc. (NASDAQ: ALTO) will release its first quarter 2021 financial results after market-close on May 12, 2021. A conference call will be held at 2:00 p.m. PT (5:00 p.m. ET) on the same day, featuring prepared remarks and a Q&A session. Investors can access the live webcast on the company’s website. A replay of the call will also be available for one year on the site and via a telephonic replay from May 12 to May 19, 2021. Alto Ingredients specializes in producing specialty alcohols and essential ingredients across various markets including Health, Home & Beauty, and Renewable Fuels.

Alto Ingredients, Inc. (NASDAQ: ALTO) announced a definitive agreement to sell its Madera, CA fuel ethanol production facility for $28.3 million, consisting of $19.5 million in cash and $8.8 million in assumed liabilities. The deal, expected to close in Q2 2021, aims to optimize the company's production footprint and reduce costs associated with idle plants. The majority of the proceeds will be used to pay down debt. Additionally, discussions are ongoing to sell another facility in Stockton.

Alto Ingredients reported its financial results for 2020, revealing a net loss of $16.4 million and Adjusted EBITDA of $67.4 million. The company reduced total debt by $146 million and improved cash reserves to $47.7 million. Although net sales decreased to $897 million from $1.4 billion, gross profit rebounded to $52.9 million from a loss the previous year. Production of specialty alcohols increased, highlighting the firm’s shift towards more profitable operations. The company aims to leverage its improved balance sheet for future growth opportunities.

Alto Ingredients, Inc. (NASDAQ: ALTO) will announce its fourth quarter and full year 2020 financial results on March 10, 2021, after market close. Management will hold a conference call on March 11, 2021, at 8:00 a.m. PT, featuring prepared remarks and a Q&A session. The conference call can be accessed via Alto's website or by phone. The company focuses on producing specialty alcohols for various markets, including health, food and beverage, and renewable fuels.

Alto Ingredients, Inc. (NASDAQ: ALTO) has announced that its Illinois Corn Processing (ICP) facility has received the EXCiPACT Good Manufacturing Practices (GMP) certification. This certification aligns with the company’s growth strategy to expand its presence in various ethyl alcohol markets, complementing its ISO 9001 and ICH Q7 certifications. The EXCiPACT certification is recognized globally within the pharmaceutical industry, indicating Alto's commitment to quality and safety in drug formulation components. This achievement underscores the company's effort to meet customer demands for high-quality ingredients.

Alto Ingredients, Inc. (NASDAQ: ALTO) announced its Illinois Corn Processing facility has attained ICH Q7 certification, enhancing its ability to provide high-quality specialty alcohols for the pharmaceutical sector. This certification follows the ISO 9001 certification received in October 2020, indicating the company’s commitment to quality management. CEO Mike Kandris noted that this achievement strengthens customer relationships and opens new market opportunities, particularly in health and beauty products, pharmaceuticals, and personal care.

Alto Ingredients (NASDAQ: ALTO) celebrated the commencement of trading under its new ticker symbol on February 1, 2021. The company will ring the Nasdaq Closing Bell on February 3, 2021, marking the transition from its former name, Pacific Ethanol. Alto Ingredients specializes in producing specialty alcohols and essential ingredients for various markets, including Food & Beverage and Renewable Fuels. The strategic rebranding aims to amplify its presence in these sectors and reflect its diversified business approach.