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. (NASDAQ: ALTO) has been included in the Russell 2000® and Russell 3000® indexes, effective June 28, 2021. This significant milestone enhances the company's visibility in the specialty alcohols and essential ingredients markets. With approximately $10.6 trillion in assets benchmarked against these indexes, membership is poised to broaden Alto's exposure among institutional investors. CEO Mike Kandris expressed optimism regarding this inclusion as it reflects the company's growth trajectory.
Alto Ingredients, Inc. (ALTO), a prominent producer of specialty alcohols, announces CEO Mike Kandris and CFO Bryon McGregor will speak at the 18th Annual Craig-Hallum Institutional Investor Conference on June 2, 2021. They will engage in one-on-one meetings with institutional investors throughout the day. Interested parties can access the investor presentation on the company’s website. Alto Ingredients focuses on key markets including Health, Home & Beauty, Food & Beverage, Essential Ingredients, and Renewable Fuels, serving major food and beverage and consumer products companies.
Alto Ingredients, Inc. (NASDAQ: ALTO) completed the sale of its fuel ethanol production facility in Madera, CA, receiving $19.5 million in cash and $8.8 million in liabilities assumed. The proceeds were used to pay down senior notes, reducing the outstanding balance to just $0.7 million. CEO Mike Kandris noted that this decision will decrease annual interest and idle expenses by over $4 million, allowing the company to focus more on revenue growth.
Alto Ingredients, Inc. reported a net income of $4.4 million or $0.06 per share for the first quarter of 2021, compared to a net loss of $25.4 million in 2020. The company's Adjusted EBITDA reached $13.6 million, a significant improvement from a negative $12.4 million last year. Net sales decreased to $218.7 million from $311.4 million, while the cost of goods sold also decreased. The company announced the sale of its Madera, CA facility for $28.3 million to optimize its ethanol production footprint.
Alto Ingredients, Inc. (NASDAQ: ALTO) will release its first quarter 2021 financial results after market-close on May 12, 2021. A conference call will be held at 2:00 p.m. PT (5:00 p.m. ET) on the same day, featuring prepared remarks and a Q&A session. Investors can access the live webcast on the company’s website. A replay of the call will also be available for one year on the site and via a telephonic replay from May 12 to May 19, 2021. Alto Ingredients specializes in producing specialty alcohols and essential ingredients across various markets including Health, Home & Beauty, and Renewable Fuels.
Alto Ingredients, Inc. (NASDAQ: ALTO) announced a definitive agreement to sell its Madera, CA fuel ethanol production facility for $28.3 million, consisting of $19.5 million in cash and $8.8 million in assumed liabilities. The deal, expected to close in Q2 2021, aims to optimize the company's production footprint and reduce costs associated with idle plants. The majority of the proceeds will be used to pay down debt. Additionally, discussions are ongoing to sell another facility in Stockton.
Alto Ingredients reported its financial results for 2020, revealing a net loss of $16.4 million and Adjusted EBITDA of $67.4 million. The company reduced total debt by $146 million and improved cash reserves to $47.7 million. Although net sales decreased to $897 million from $1.4 billion, gross profit rebounded to $52.9 million from a loss the previous year. Production of specialty alcohols increased, highlighting the firm’s shift towards more profitable operations. The company aims to leverage its improved balance sheet for future growth opportunities.
Alto Ingredients, Inc. (NASDAQ: ALTO) will announce its fourth quarter and full year 2020 financial results on March 10, 2021, after market close. Management will hold a conference call on March 11, 2021, at 8:00 a.m. PT, featuring prepared remarks and a Q&A session. The conference call can be accessed via Alto's website or by phone. The company focuses on producing specialty alcohols for various markets, including health, food and beverage, and renewable fuels.
Alto Ingredients, Inc. (NASDAQ: ALTO) has announced that its Illinois Corn Processing (ICP) facility has received the EXCiPACT Good Manufacturing Practices (GMP) certification. This certification aligns with the company’s growth strategy to expand its presence in various ethyl alcohol markets, complementing its ISO 9001 and ICH Q7 certifications. The EXCiPACT certification is recognized globally within the pharmaceutical industry, indicating Alto's commitment to quality and safety in drug formulation components. This achievement underscores the company's effort to meet customer demands for high-quality ingredients.
Alto Ingredients, Inc. (NASDAQ: ALTO) announced its Illinois Corn Processing facility has attained ICH Q7 certification, enhancing its ability to provide high-quality specialty alcohols for the pharmaceutical sector. This certification follows the ISO 9001 certification received in October 2020, indicating the company’s commitment to quality management. CEO Mike Kandris noted that this achievement strengthens customer relationships and opens new market opportunities, particularly in health and beauty products, pharmaceuticals, and personal care.
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