Welcome to our dedicated page for Alto Ingredients news (Ticker: ALTO), a resource for investors and traders seeking the latest updates and insights on Alto Ingredients stock.
Alto Ingredients, Inc. (NASDAQ: ALTO) is a leading producer and distributor of specialty alcohols and essential ingredients in the United States. The company serves five key markets: Health, Home & Beauty, Food & Beverage, Industry & Agriculture, Essential Ingredients, and Renewable Fuels. With production facilities primarily in the western United States, Alto Ingredients caters to major food and beverage companies, consumer products manufacturers, and distributors.
Alto Ingredients operates under three segments: Marketing and Distribution, Pekin Campus Production, and Other Production. The Marketing and Distribution segment is involved in marketing and merchant trading for alcohols and essential ingredients. The Pekin Campus segment is responsible for producing and selling products made at the company's Pekin, Illinois campus, which accounts for about half of the firm's revenue. Other Production covers the output from the company's other facilities.
The company is notable for its production of low-carbon renewable fuels such as ethanol, which is blended into gasoline. Alto Ingredients also produces ethanol co-products including wet distillers grain, a nutritious animal feed, and corn oil. Serving integrated oil companies and gasoline marketers, the company provides transportation, storage, and delivery of ethanol through third-party service providers in California, Arizona, Nevada, Utah, Oregon, Colorado, Idaho, and Washington.
Recent achievements highlight Alto Ingredients' focus on business transformation and strategic partnerships. In November 2023, the company announced its third-quarter financial results, showing positive Adjusted EBITDA despite operational challenges such as unscheduled downtime. The company also completed numerous repair and maintenance projects aimed at improving future production consistency.
Alto Ingredients is advancing its long-term growth strategy with significant projects such as a carbon capture and storage (CCS) initiative at its Pekin campus. Partnering with Vault 44.01, the company plans to capture and store CO2 emissions generated from ethanol production, substantially reducing its carbon footprint and benefiting the local community.
Financially, the company ended 2023 with $1.22 billion in net sales and $15.7 million in gross profit. Despite some losses, the company is optimistic about its future performance, leveraging favorable market outlooks and ongoing investments to improve capacity utilization, reduce costs, and expand operating margins.
Alto Ingredients' operations and strategic initiatives demonstrate its commitment to sustainability and shareholder value, positioning it well for continued growth and profitability in the renewable fuels and specialty alcohols market.
Alto Ingredients (NASDAQ: ALTO) announced it will cold idle its Magic Valley, Idaho facility on December 31, 2024, while maintaining terminal services at the plant. The decision comes in response to forecasted very low to negative crush margins in the West for Q1 2025. CEO Bryon McGregor stated the company will fulfill remaining contractual obligations and plans to resume operations when economic conditions improve sustainably. The company expects these actions to positively impact overall financial results.
Alto Ingredients (NASDAQ: ALTO) has released its second Sustainability Report, highlighting its 2023 achievements in producing sustainable specialty alcohols, renewable fuels, and essential ingredients. The company conducted materiality assessments identifying key focus areas including climate change, environmental management, and employee safety. Alto's sustainability initiatives resulted in multiple certifications and awards, including EcoVadis Bronze Medals, ACD Responsible Distribution™, and various food safety certifications.
The company identified long-term market opportunities in bio-based renewables, including sustainable aviation fuel (SAF), carbon capture & storage, and novel uses for waste products. Alto's commitment to sustainability encompasses monitoring environmental risks, energy efficiency, emissions, waste management, and water usage while maintaining product quality and safety standards.
Alto Ingredients (ALTO) reported Q3 2024 financial results and announced a CO2 Transportation and Sequestration Agreement with Vault 44.01. Q3 net sales decreased to $251.8 million from $318.1 million year-over-year, while gross profit improved 40% to $6.0 million. The company reported a net loss of $0.04 per share, compared to $0.05 per share loss in Q3 2023. Specialty alcohol sales increased by 4 million gallons compared to last year. Cash and cash equivalents stood at $33.6 million as of September 30, 2024, with total borrowing availability of $92.2 million.
Alto Ingredients (NASDAQ: ALTO) has entered a CO2 Transportation and Sequestration Agreement with Vault 44.01 for the transportation, injection, and sequestration of CO2 produced at its Pekin campus into the Mt. Simon sandstone formation in Illinois. The agreement aims to significantly reduce CO2 emissions from the campus, which produces over 600,000 metric tons of CO2 annually as a by-product of producing approximately 250 million gallons of specialty alcohols and renewable fuels. Alto's CEO, Bryon McGregor, highlighted the project's role in improving profitability and lowering carbon emissions while awaiting EPA approval, financing, and equipment sourcing. Vault 44.01's CEO, Scott Rennie, emphasized the project's benefits for Illinois farmers and the broader community, focusing on safety, transparency, and long-term security. The project aims to provide direct value to surrounding communities and contribute to employment and economic opportunities.
Alto Ingredients (NASDAQ: ALTO) will release its third quarter 2024 financial results on November 6, 2024, after the market close. A conference call is scheduled for 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on the same day. The call will include prepared remarks followed by a Q&A session and will be available via webcast on the company's website. Participants can register to receive a unique PIN or dial in directly twenty minutes before the call. A replay of the webcast will be available for one year on the company's website, and a telephonic replay will be accessible from November 6, 2024, 8:00 p.m. ET to November 13, 2024, 8:00 p.m. ET.
Alto Ingredients (NASDAQ: ALTO) has provided updates on its Magic Valley facility in Idaho, where it has installed Harvesting Technology's patented system to capture high protein and corn oil products. The facility is now consistently achieving full production capacity for renewable fuel while operating the new technology systems. Key metrics include:
- Protein content at 50% or greater
- Improved protein production yields of over three pounds per bushel
- Increasing corn oil yields
CEO Bryon McGregor expressed pride in the team's efforts to integrate design changes and achieve these production milestones. The company expects the improved output to contribute to Magic Valley's bottom line results and anticipates sales from associated products to ramp up in Q4 2024.
Alto Ingredients (NASDAQ: ALTO), a leading producer of renewable fuel and specialty alcohols, has announced its participation in the 26th Annual H.C. Wainwright Global Investment Conference. The event is scheduled for September 10, 2024 in New York City. Key highlights include:
- Management will conduct one-on-one meetings with investors
- A presentation is scheduled for 10:00 am ET
- Presentation materials and webcast will be accessible on the company's website
This conference provides Alto Ingredients with an opportunity to showcase its business strategies and growth prospects to a global audience of investors and industry professionals. Interested parties can access the presentation materials and webcast at www.altoingredients.com.
Alto Ingredients (NASDAQ: ALTO) reported its Q2 2024 results. Net sales were $236.5M, down from $317.3M in Q2 2023. The Cost of goods sold was $228.9M versus $300.1M. The gross profit stood at $7.6M, down from $17.2M. The company saw a net loss of $3.4M or $0.05/share, compared to a net income of $7.2M or $0.10/share in Q2 2023.
Adjusted EBITDA was negative $5.9M, compared to positive $14.0M. Cash reserves were $27.1M as of June 30, 2024. The Pekin Campus delivered over $10M in gross profit despite $5M in expenses related to planned outages, up from $4M in Q1 2024. The company plans to achieve positive Adjusted EBITDA for Q3 if current margins are maintained.
Alto Ingredients, Inc. (NASDAQ: ALTO), the largest producer of specialty alcohols in the United States, has announced the release of its second quarter 2024 financial results on August 6, 2024, after market close. The company will host a conference call at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on the same day, featuring prepared remarks via webcast followed by a Q&A session.
Investors can participate by listening to the webcast on Alto Ingredients' website or by registering for a unique PIN to dial in. A replay of the webcast will be available on the company's website for one year, and a telephonic replay will be accessible from August 6 to August 13, 2024.
Alto Ingredients, Inc. reported improved financial results for Q1 2024 compared to Q1 2023, with gross profit up by $0.8 million, net loss reduced by $1.4 million, and Adjusted EBITDA increased by $3.4 million. The company's strategies to diversify revenue, improve capacity utilization rates, reduce costs, and expand operating margins are yielding positive results. However, weather factors impacted performance negatively, with increased transportation expenses and lower margin feed products due to cold spikes and energy hedging losses. The company's outlook for 2024 remains favorable, supported by solid corn inventories, increased export demand for ethanol, and EPA waivers for 15% ethanol blends. Additionally, Alto is progressing with its strategic carbon capture and storage initiative to reduce carbon footprint and has entered into a partnership with Vault 44.01 for CO2 storage.
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