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Jun 30, 2024
Alto Ingredients Q2 2024 Earnings Report
Alto Ingredients reported its financial results for the quarter ended June 30, 2024.
Key Takeaways
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.
Pekin Campus has been producing alcohol and serving customers for over 150 years.
The company continues to strengthen facilities by reinvesting cash flow from operations in capital upgrades as well as repairs and maintenance.
Recent biennial outage at the Pekin wet mill improved capacity utilization and reduced fixed costs per unit.
Magic Valley resumed operations in early July, and the company expects to increase production rates in the coming weeks as they complete the system upgrades.
Forward Guidance
If current margins hold and we continue to hit our production targets, we expect to deliver positive Adjusted EBITDA for the third quarter.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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