Overview
Alto Ingredients Q3 net sales fell but beat analyst expectations
Adjusted EBITDA for Q3 beats estimates, reflecting cost reduction efforts
Outlook
Alto Ingredients plans to expand CO2 utilization to meet growing demand
Company has increased ethanol production due to higher export demand
Alto Ingredients expects to generate Section 45Z tax credits on renewable fuel sales
Result Drivers
RENEWABLE FUEL EXPORTS - Increased export sales of renewable fuels contributed to improved Q3 results
LIQUID CO2 DEMAND - Greater demand for liquid CO2 supported Q3 performance
COST REDUCTION - Cost reduction efforts, including rationalizing unprofitable business activities, strengthened financial position
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | Beat | $241 mln | $235.70 mln (2 Analysts) |
Q3 EPS | $0.19 | ||
Q3 Net Income | $14 mln | ||
Q3 Adjusted EBITDA | Beat | $21 mln | $5.12 mln (2 Analysts) |
Q3 Gross Profit | $23 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the renewable fuels peer group is "buy"
Wall Street's median 12-month price target for Alto Ingredients Inc is $2.50, about 54.8% above its November 4 closing price of $1.13
Press Release: ID:nGNX5RtH9m
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)