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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 has acquired Eagle Alcohol Company for $14 million, aiming for immediate accretion and an annual growth in Adjusted EBITDA by $7-9 million starting in 2023. This acquisition will enhance margins, reduce exposure to price volatility, and expand market access. Eagle generated over $35 million in revenue in 2021 and specializes in small-packaged specialty alcohols. The deal is funded with cash on hand, and Eagle’s former president will continue to lead its operations under Alto. The integration is expected to provide significant financial and operational synergies.
Alto Ingredients, Inc. (NASDAQ: ALTO) resumed ethanol production at its Magic Valley facility in November 2021 to enhance profitability. The implementation of the CoPromax™ system is on track for completion by mid-2022, expected to produce over 33,000 tons of high-protein feed annually, increase corn oil yields by 50%, and contribute over $9 million in Adjusted EBITDA. This strategic shift aligns with the rising demand for protein in animal feed markets and is a key component of the company's plan to focus on higher-value products.
Alto Ingredients, Inc. (NASDAQ: ALTO) will participate in the 12th Annual Craig-Hallum Alpha Select Conference on November 16, 2021. The event aims to showcase the company's position as a leading producer of specialty alcohols and essential ingredients.
Presentation materials will be accessible via the Investor Relations section of their website. For personalized engagement, attendees can schedule one-on-one meetings with Craig-Hallum representatives.
Alto Ingredients reported a third quarter net loss of $3.5 million for the period ending September 30, 2021, despite achieving positive adjusted EBITDA of $3.0 million. Net sales increased to $306 million, a significant rise from $204.7 million year-over-year, attributed to higher production and pricing. The company sold its Stockton, CA facility, retiring $150 million in term debt. However, gross loss of $3.4 million was noted due to increased costs. The company anticipates an annual EBITDA increase of $18.5 million starting in 2022.
Alto Ingredients, Inc. (NASDAQ: ALTO) announced the sale of its fuel ethanol production facility in Stockton, CA for $24 million. The company used $16.2 million of the proceeds to eliminate its outstanding term debt, resulting in a debt-free status. This sale concludes the company’s realignment of fuel-grade ethanol operations, enhancing profitability and balancing its financials. Alto plans to concentrate on producing specialty alcohols and essential ingredients, continuing to utilize the Stockton facility for renewable fuel sales via its subsidiary Kinergy Marketing.
Alto Ingredients, Inc. (NASDAQ: ALTO) has announced it will release its third quarter 2021 financial results after market close on November 9, 2021. The company is recognized for producing specialty alcohols and essential ingredients across key markets like Health, Home & Beauty, Food & Beverage, Essential Ingredients, and Renewable Fuels. A conference call to discuss the results will take place at 2:00 p.m. PT / 5:00 p.m. ET on the same day, which can be accessed via their website or by phone.
Alto Ingredients, Inc. (NASDAQ: ALTO) is set to enhance its Magic Valley, Idaho facility by installing Harvesting Technology's CoPromax™ protein system. This upgrade aims to diversify product offerings, producing over 33,000 tons of high-protein feed annually and increasing corn oil yields by 50%, generating an estimated $7.8 million in gross profit and around $9 million in EBITDA. Production is expected to resume with a capacity of 60 million gallons annually, with commissioning planned for the first half of 2022. The initiative supports growing protein demand in various agricultural sectors.
Alto Ingredients, Inc. (NASDAQ: ALTO) will present at the H.C. Wainwright 23rd Annual Global Investment Conference on September 13, 2021, with CEO Mike Kandris and CFO Bryon McGregor speaking live at 4:00am PT/7:00am ET. The management team will also engage in one-on-one meetings with institutional investors throughout the day. Interested parties can find presentation materials and the webcast on the company’s Investor Relations page. Alto Ingredients, known for specialty alcohols, serves diverse markets including Health, Home & Beauty, Food & Beverage, and Renewable Fuels.
Alto Ingredients, Inc. (NASDAQ: ALTO) reported a net income of $8.1 million, or $0.11 per share, for Q2 2021, marking its fifth consecutive quarter of gross profit. The company achieved Adjusted EBITDA of $17.0 million and net sales of $298.1 million. Although costs increased, gross profit decreased to $15.2 million compared to the prior year. For the first half of 2021, they reported a net income of over $12 million and an EBITDA of over $30 million.
The company is focused on strengthening its balance sheet and expanding profitably.
Alto Ingredients, Inc. (NASDAQ: ALTO) announces it will release its Q2 2021 financial results on August 3, 2021, after market close. A conference call is scheduled for the same day at 2:00 PM PT, with management providing prepared remarks and a Q&A session afterward. Investors can access the webcast via Alto's website. The company is a key player in producing specialty alcohols and essential ingredients for various markets, including Health, Home & Beauty, and Renewable Fuels.
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