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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) reported its Q4 and full-year 2022 results, with net sales of $328.4 million for Q4, down from $385.5 million. Full-year net sales increased to $1.3 billion. However, gross losses rose to $21.3 million for the quarter and $27.6 million annually. CEO Mike Kandris highlighted initiatives to diversify revenue and enhance operational efficiency, expecting over $65 million in annualized EBITDA by 2025 and over $125 million by 2026. The company completed infrastructure upgrades and is advancing new production technologies. Despite growth plans, the financials reflect significant losses and challenges due to commodity price fluctuations.
Alto Ingredients, Inc. (NASDAQ: ALTO) will release its fourth quarter 2022 financial results after the market close on March 9, 2023. Management will also host a conference call at 2:00 p.m. PT / 5:00 p.m. ET on the same day, with a webcast available for listening on their website. Investors can participate by registering for a unique PIN or dialing in directly. The call will feature prepared remarks followed by a Q&A session. The webcast will be archived for replay for one year, and a telephonic replay will be available from 8:00 p.m. ET March 9 through 8:00 p.m. ET March 16.
Alto Ingredients (NASDAQ: ALTO) reported third-quarter 2022 net sales of $336.9 million, a 10% increase from $305.6 million in 2021. However, the company faced significant challenges, including a gross loss of $19.8 million compared to a loss of $3.4 million in the prior year. Increased costs and logistical constraints contributed to a net loss of $28.4 million, or $0.39 per share. The company secured a $125 million term debt financing to support upcoming capital projects aimed at diversifying its specialty alcohols and enhancing operational efficiency.
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