Alto Ingredients reports Q3 net loss of $3.5M, sells Stockton facility, retires $150M debt

Alto Ingredients, Inc.

2021-Q3 EPS reported $0.12 revenue$822,400,000

Net sales $305.6M (+49% YoY), but gross loss of $3.4M vs gross profit $20.9M in prior year.
Net loss $3.5M ($0.05/share) vs net income $14.9M ($0.24/diluted share) in Q3 2020.
Adjusted EBITDA $3.0M, down from $34.1M in Q3 2020; operating loss of $8.9M.
Sold Stockton CA facility for $24M cash on Nov 8; used proceeds to retire $150M term debt, now debt-free.
Completed projects expected to increase annual EBITDA by $18.5M starting 2022; yeast expansion and wet mill upgrades.

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