Vertex Energy, Inc Stock Price, News & Analysis

Vertex Energy, Inc. (NASDAQ: VTNR) will release its third quarter 2022 financial results on November 8, 2022, before the market opens. A conference call is scheduled for 8:00 A.M. ET that same day to discuss the results and recent company developments. Investors can join the call by dialing 1-877-300-8521 (domestic) or 1-412-317-6026 (international), using Conference ID 10172978. The call will be available for replay on the company's website until November 22, 2022.

Vertex Energy (NASDAQ:VTNR) updated its operational outlook for Q3 2022, expecting throughput volumes of 68,000 – 69,000 bpd, down from previous estimates due to third-party supply disruptions. Management accelerated facility maintenance to prepare for anticipated heating oil demand in Q4, completing maintenance safely and on budget. Operating expenses are projected at $4.25 - $4.50 per barrel, while capital expenditures remain unchanged at $30 - $35 million. No material impact from Hurricane Ian is expected.

Vertex Energy has announced a strategic extension of its Mobile, Alabama Refinery's renewable diesel conversion project timeline to Q1 2023, due to supply chain disruptions. The company expects this extension to generate an incremental gross margin of $15 - $17 million in Q4 2022 by maintaining operations. The project is on budget, targeting 8,000 - 10,000 bpd of renewable diesel production, with plans to ramp up to 14,000 bpd. Management aims to enhance safety and mitigate risks, while still progressing towards completion.

Vertex Energy (NASDAQ:VTNR) announced it will release its second quarter 2022 financial results on August 9, 2022. A conference call is scheduled for 9:00 A.M. ET the same day to discuss results and recent events. Investors can access the live broadcast via the company's website. Vertex operates a refinery in Mobile, AL, with a capacity of 75,000 barrels per day and ranks as a leading supplier of fuels in the region. The company is also a major processor of used motor oil in the U.S.

Vertex Energy (NASDAQ:VTNR) has appointed James Rhame as its new Chief Operating Officer, effective June 10, 2022. Rhame succeeds John Strickland, who will focus on Black Oil Operations. With over 40 years in the refining sector, Rhame's background includes leadership roles at Motiva and Flint Hills Resources, as well as extensive experience at Shell. His mandate includes overseeing company operations and pursuing growth strategies in the energy sector. The company, known for its Mobile refinery and alternative fuel production, aims to enhance its market position under Rhame's leadership.

Vertex Energy (NASDAQ:VTNR) appointed Alvaro Ruiz as Chief Strategy Officer effective June 10, 2022. This newly created role aims to enhance the company's strategy, investor relations, and corporate development including growth initiatives. Ruiz, who has been with Vertex since 2013 as Executive VP of Corporate Development, played a key role in the recent acquisition of the Mobile refinery. The leadership change signifies the company's commitment to retaining talent and pursuing strategic investments for sustainable growth amid favorable refined product margins.

Vertex Energy (NASDAQ:VTNR) announces its inclusion in the Russell 3000 Index effective June 27, 2022. This prestigious ranking reflects Vertex's significant market capitalization and positions it for further visibility among institutional investors, with approximately $12 trillion in assets benchmarked against Russell indexes. The addition is attributed to a focus on long-term value creation and efforts towards a clean energy future. CEO Benjamin Cowart emphasizes the honor of this inclusion, seen as a testament to the company's performance and commitment.

Vertex Energy reports strong first-quarter 2022 results, achieving a total gross profit of $20.9 million, a 56% year-over-year increase. Despite a net loss of $0.8 million, adjusted net income rose to $7.3 million, up $2.1 million year-over-year. The acquisition of the Mobile refinery was completed on April 1, 2022, for a total of $100 million. The refinery is projected to operate at 90% capacity, and refined product margins are at multi-year highs. Full-year guidance indicates gross profit between $440 million and $460 million.

Vertex Energy (NASDAQ: VTNR) has announced it will release its first quarter 2022 financial results before the market opens on May 10, 2022. A conference call will follow at 9:00 A.M. ET to discuss the results and address questions. Vertex, a key player in the energy industry, operates a large refinery in Mobile, Alabama and specializes in high-purity refined products, including Group II+ and Group III Base Oils. Investors can access the conference call via telephone or through a live webcast on Vertex's website.