Alto Ingredients Earnings Reports

Alto Ingredients reported Q4 2024 revenue of $236.3 million, a decline from the prior year. The company posted a net loss of $42.0 million, widening from the previous year. Gross loss was $1.4 million, reflecting continued challenges in cost control. Strategic cost-cutting measures, including plant idling and headcount reductions, are expected to yield savings in the coming year.

Alto Ingredients reported improved production capabilities at its Pekin campus, leading to increased specialty alcohol sales and a 40% year-over-year increase in consolidated gross profit. The company also entered into a CO2 Transportation and Sequestration Agreement with Vault 44.01, marking a step toward sustainability.

Alto Ingredients' Pekin Campus delivered over $10 million of gross profit in Q2 2024, despite over $5 million of expenses related to planned facility outages. The company expects to deliver positive Adjusted EBITDA for the third quarter if current margins hold and production targets are met.

Alto Ingredients reported improved first quarter 2024 results with gross profit increasing by $0.8 million, net loss decreasing by $1.4 million, and Adjusted EBITDA increasing by $3.4 million compared to the first quarter of 2023. However, weather factors and energy hedging activities impacted the quarter's performance.

Alto Ingredients reported financial results for the quarter and year ended December 31, 2023, with gross loss and Adjusted EBITDA improving over the fourth quarter of 2022. The company is focused on diversifying revenue, improving capacity utilization, reducing costs, and expanding operating margins.