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Dec 31, 2023
Alto Ingredients Q4 2023 Earnings Report
Reported improved gross loss and Adjusted EBITDA compared to Q4 2022.
Key Takeaways
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.
Gross loss improved $18.8 million compared to Q4 2022.
Adjusted EBITDA improved $19.0 million compared to Q4 2022.
Signed a letter of intent with Vault 44.01 for CO2 storage at the Pekin campus.
Temporarily hot-idled the Magic Valley plant to minimize the financial impact of negative regional crush margins and expedite equipment installation.
Forward Guidance
Alto Ingredients anticipates stronger performance in 2024 with a favorable outlook leading to crush margin improvements and positive spreads through most of the year. The company is conducting ongoing maintenance to increase reliability and production run rates.
Positive Outlook
- Overall outlook for 2024 is favorable.
- Crush margin improvements are expected over the next few months.
- Positive spreads are anticipated through most of the year.
- Ongoing maintenance across the asset portfolio to increase reliability.
- Production run rates are expected to increase.
Challenges Ahead
- Markets are dynamic.
- Company remains agile and financially prudent.
- Company seeks to capitalize on the most promising and profitable opportunities.
- Magic Valley facility temporarily hot-idled.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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