Vertex Energy, Inc Stock Price, News & Analysis

Vertex Energy (NASDAQ: VTNR) has provided an update on its acquisition of the Mobile refinery from Shell, indicating the transition of commercial operations is on schedule. The acquisition is anticipated to close in Q1 2022, pending regulatory approvals and financing. Vertex, a key processor of used motor oil, aims to enhance its market position with this strategic acquisition, boosting its production capabilities and refining capacity in North America.

Vertex Energy (NASDAQ:VTNR) announced on September 21, 2021, receipt of a Second Request from the U.S. Federal Trade Commission regarding its planned asset divestiture to Safety-Kleen Systems. This follows the June 29 definitive agreement to sell used motor oil collection and recycling assets for $140 million. The Hart-Scott-Rodino Antitrust Improvements Act waiting period is extended by 30 days pending compliance. Vertex is cooperating with the FTC during this review process, with the transaction also subject to shareholder and customary closing conditions.

Vertex Energy (NASDAQ:VTNR) has announced the phased restart of operations at its Marrero, Louisiana refinery following Hurricane Ida, which made landfall on August 29. The refinery was offline as a precaution but incurred no significant damage. As of September 10, operations are expected to return to normal production rates shortly. Vertex continues to coordinate with local authorities for a safe restart process, ensuring the safety of employees and contractors. Vertex specializes in refining alternative feedstocks and is a major processor of used motor oil in the U.S.

Vertex Energy (NASDAQ:VTNR) has provided an operational update following Hurricane Ida, which impacted its Marrero refinery in Louisiana. The refinery was taken offline as a precautionary measure but reported no significant damage or environmental concerns. As the region faces power outages, Vertex aims to restart operations in phases once power is restored. The company prioritizes the safety of its employees and will allow access only when normal conditions resume. A further update will be issued regarding the restart timeline.

Vertex Energy (VTNR) reported a net loss of $16.0 million for Q2 2021, increasing from a net loss of $8.9 million in Q2 2020. However, the company marked a turnaround with $1.6 million in operating income and an Adjusted EBITDA of $4.0 million, up from a loss of $5.3 million year-over-year. Vertex is in advanced discussions for financing its $75 million Mobile refinery acquisition expected to close in Q4 2021, alongside a divestiture of used motor oil assets for $140 million. These transactions aim to enhance its position in renewable fuels.

Vertex Energy, Inc. (NASDAQ:VTNR) announced it will release its second quarter 2021 financial results on August 10, 2021, before market opening. A conference call is scheduled for 9:00 A.M. ET that same day to discuss the results and recent events, with a Q&A session to follow. Investors can access a webcast of the call on Vertex's Investor Relations website. Vertex is a leading specialty refiner of alternative feedstocks and is one of the largest processors of used motor oil in the U.S., with operations in several states.

Vertex Energy (NASDAQ:VTNR) has agreed to sell its used motor oil collection and recycling assets to Safety-Kleen for $140 million, with expected net proceeds of approximately $90 million post-debt retirement. This transaction supports a strategic transformation of Vertex's balance sheet and enables investment in a new renewable feedstock pre-treatment unit, projected to generate $75-$100 million in EBITDA by year-end 2023. Vertex's focus shifts toward higher-margin energy transition opportunities, consolidating its position as a leading energy transition company.

Vertex Energy (NASDAQ:VTNR) has announced its inclusion in the Russell Microcap Index effective June 28, 2021, following the annual reconstitution. This recognition highlights the company's growth strategy in the energy transition sector. Membership in the index could significantly broaden its investor base and enhance visibility among institutional and retail investors. The Russell indexes include assets worth approximately $10.6 trillion and are commonly utilized as benchmarks for investment strategies.

Vertex Energy, Inc. (NASDAQ: VTNR) has announced its definitive agreement to acquire the Mobile Chemical LP refinery from Shell for $75 million. This acquisition will transform Vertex into a leading independent refiner of renewable and conventional products. The company anticipates generating $3 billion in annual revenue and over $400 million in gross profit by year-end 2023, following an $85 million capital project to convert the refinery's hydrocracking unit. The acquisition is expected to close in Q4 2021, pending regulatory approvals.