Alto Ingredients, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023 at 04:19 pm EST
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Alto Ingredients, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 318.13 million compared to USD 336.88 million a year ago. Net loss was USD 3.49 million compared to USD 28.04 million a year ago. Basic loss per share from continuing operations was USD 0.05 compared to USD 0.39 a year ago. Diluted loss per share from continuing operations was USD 0.05 compared to USD 0.39 a year ago.
For the nine months, sales was USD 949.32 million compared to USD 1,007.18 million a year ago. Net loss was USD 9.06 million compared to USD 8.53 million a year ago. Basic loss per share from continuing operations was USD 0.14 compared to USD 0.13 a year ago. Diluted loss per share from continuing operations was USD 0.14 compared to USD 0.13 a year ago.
Alto Ingredients, Inc. produces and distributes renewable fuel and essential ingredients and is a producer of specialty alcohols in the United States. The Company's segments include Pekin Campus production, marketing and distribution and Western production. Pekin Campus production segment includes the production and sale of alcohols and essential ingredients produced at the Companyâs Pekin, Illinois campus. Its marketing and distribution segment includes marketing and merchant trading for Company-produced alcohols and essential ingredients on an aggregated basis, and sales of fuel-grade ethanol sourced from third parties. Western production segment includes the production and sale of fuel-grade ethanol and essential ingredients produced the Companyâs two western production facilities. It produces specialty alcohols, fuel-grade ethanol and essential ingredients, focusing on various markets, such as health, home and beauty; food and beverage; essential ingredients, and renewable fuels.