Alto Ingredients Q1 net sales up 41% to $308M but net loss of $2.9M vs prior-year profit

Alto Ingredients, Inc.

2023-Q1 EPS reported -$0.04 revenue$308,118,000

Net sales $308.1M (+41% YoY); cost of goods sold $303.3M (+48% YoY).
Gross profit fell to $4.8M from $13.8M; operating loss $2.9M vs income $5.6M.
Net loss available to common $2.9M ($0.04 per share) vs net income $4.4M ($0.06).
Adjusted EBITDA $4.4M vs $13.4M; cash $36.2M, down from $50.6M at year-end.
Acquired small-package spirits distributor Eagle Alcohol; launched quality and ESG initiatives.

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