Welcome to our dedicated page for Vertex Energy news (Ticker: VTNR), a resource for investors and traders seeking the latest updates and insights on Vertex Energy stock.
Vertex Energy, Inc. (VTNR) is a leading environmental services company based in Houston, Texas, that specializes in the aggregation, recycling, and processing of distressed hydrocarbon streams. The company plays a crucial role in reducing the United States' reliance on foreign crude oil by transforming used oil and off-specification commercial chemical products into higher-value commodities. Vertex Energy operates through two primary segments: Refining and Marketing, and Black Oil and Recovery.
In the Refining and Marketing segment, Vertex Energy focuses on collecting used oil from various sources such as oil change service stations, automotive repair shops, petroleum refineries, and petrochemical manufacturing operations. This segment accounts for the majority of the company's revenue, highlighting its importance in Vertex Energy's overall business strategy.
The Black Oil and Recovery segment is dedicated to the transportation, processing, and re-refining of distressed hydrocarbon-based streams into viable commodity products. These efforts help offset the United States' dependency on foreign crude oil while delivering both financial and environmental benefits.
With offices in Georgia and California, Vertex Energy provides services across the United States, ensuring the efficient recycling and re-refining of industrial waste streams. The company employs a variety of strategies and technologies to enhance the value of the products it manages, making significant strides in the alternative energy and environmentally friendly investment sectors.
Recent achievements and current projects include expanding their refining capabilities, securing strategic partnerships, and exploring innovative technologies to further improve the quality and marketability of their recycled products. By focusing on sustainability and environmental responsibility, Vertex Energy continues to position itself as a key player in the industry.
Vertex Energy (NASDAQ:VTNR) has appointed Bart Rice as Division President of Renewable and Conventional Fuels. With over 40 years of experience in the energy sector, Rice will oversee Vertex's renewable strategy, focusing on alternative feedstocks for renewable diesel production. His role includes leading a technical group for renewable diesel pre-treatment technology at the Myrtle Grove facility. Vertex aims to enhance its core business in high-purity products while addressing future energy transition demands.
Vertex Energy, Inc. (NASDAQ:VTNR) reported its Q1 2021 financial results, achieving a net income of $1 million and an Adjusted EBITDA of $6.5 million, marking a significant increase from the prior year. Total collections grew by 17% year-over-year, reaching 10.4 million gallons. The company's refineries operated at peak utilization, benefiting from improved refined product margins and rising base oil prices. For Q2 2021, Adjusted EBITDA is anticipated between $2.5 to $3 million due to planned maintenance interventions. Cash liquidity stood at $16.4 million as of March 31, 2021.
Vertex Energy, Inc. (NASDAQ: VTNR) will release its first-quarter 2021 financial results on May 13, 2021, prior to market opening. A conference call is scheduled for the same day at 9:00 A.M. ET to discuss the results and recent developments. Investors can access the live call and related materials via the Company's website. Vertex Energy is known for processing used motor oil and producing high-purity petroleum products, operating facilities in multiple states across the U.S., and is a key supplier in the lubricant manufacturing industry.
Vertex Energy (NASDAQ:VTNR) has begun construction on the Riverside Facility in Belle Chasse, Louisiana, aimed at recovering distressed hydrocarbon streams. The facility, with a construction cost of $1.2 million, is expected to reduce logistics costs by $0.5 million annually and enhance operations at the Myrtle Grove complex, targeting $3 million in annualized EBITDA improvement by 2022. Completion is anticipated by the end of Q2 2021, with operations commencing in Q3 2021.
Vertex Energy reported its fourth quarter and full-year financial results for 2020, revealing a net loss of $3.4 million in Q4 compared to a net income of $1.4 million in the same period of 2019. The company faced a 25% decline in throughput at its Marrero refinery year-over-year, impacting profits. However, there was a 9% growth in direct used motor oil collections, and the Myrtle Grove facility has commenced Phase-Two operations. Vertex anticipates positive free cash flow and net income in 2021, with an Adjusted EBITDA projection between $2.0 million and $2.5 million for Q1 2021.
Vertex Energy (NASDAQ: VTNR) will release its fourth quarter and full-year 2020 financial results on March 9, 2021, before market opening. The company will hold a conference call at 9:00 A.M. ET on the same day to discuss the results and recent events. Interested participants can access a live broadcast and related presentation materials on Vertex's Investor Relations website. Vertex, a specialty refiner, is a major processor of used motor oil in the U.S., with operations in several states and a reputation as a key supplier of high-purity petroleum products.
Vertex Energy (NASDAQ: VTNR) has been granted an additional 180-day compliance period by Nasdaq to meet the minimum bid price requirement of $1.00 per share, extending until June 28, 2021. The company must maintain this price for at least 10 consecutive trading days to regain compliance. The extension follows the company's eligibility based on the market value of publicly held shares. If compliance is not achieved, it may face delisting, although it can appeal this decision.
Vertex Energy announced its third quarter 2020 financial results, revealing a net loss of $2.4 million, compared to a loss of $1.1 million in Q3 2019. The company achieved a 36% quarter-over-quarter increase in used motor oil collections, despite eight days of hurricane-related downtime at its Marrero refinery. Total cash and liquidity reached $16.9 million as of September 30, 2020. Vertex is initiating a startup at the Myrtle Grove facility to optimize operations and plans to explore strategic alternatives for business value maximization.
Vertex Energy (NASDAQ: VTNR) announced it will release its third quarter 2020 financial results on November 10, 2020, before the market opens. A conference call is scheduled for the same day at 9:00 A.M. ET to discuss the results and recent events. Interested parties can access the live call by dialing 844-602-0380 and a replay will be available until November 17, 2020. Vertex is a leading specialty refiner of alternative feedstocks, processing used motor oil across multiple U.S. locations and supplying base oils to the lubricant industry.
Vertex Energy (NASDAQ:VTNR) provided an update on its operations following Hurricane Laura. All employees are confirmed safe, and no damage occurred at its Gulf Coast facilities, including the Marrero, Louisiana refinery. However, heavy flooding has temporarily disrupted barge and rail traffic, affecting the transport of used motor oil feedstock and finished products. Consequently, the Marrero refinery is reducing its run rates until normal operations can resume, which Vertex Energy expects to occur within days as flooding subsides.
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