FutureFuel Q2 2024 Earnings Report
Key Takeaways
FutureFuel Corp. reported a net income of $9.6 million for Q2 2024, a significant improvement from the net loss of $9.9 million in Q2 2023. The company's performance reflects a recovering chemical industry and a competitive biofuels market. The sale of separated RINs and a reduced RIN inventory contributed significantly to the improved earnings.
Revenues decreased by 15% to $72.4 million compared to $85.3 million in the second quarter of 2023.
Net income increased to $9.6 million, or $0.22 per diluted share, compared to a net loss of $9.9 million, or $0.23 per diluted share in the same quarter last year.
Adjusted EBITDA increased to $6.9 million, up from ($7.3) million in the second quarter of 2023.
The company significantly reduced its RIN inventory, which positively impacted earnings.
FutureFuel
FutureFuel
Forward Guidance
No specific forward guidance was provided in the report.