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, Inc., a renewable fuel and essential ingredients producer, and the largest specialty alcohols producer in the US, will release its first quarter 2024 financial results on May 6, 2024. The company will host a conference call and webcast after market close on the same day, providing an opportunity for investors to gain insights into its performance.
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