Alto Ingredients Q1 net loss $13.5M, Adjusted EBITDA -$4.5M; expects positive Q2

Alto Ingredients, Inc.

2023-Q1 EPS reported -$0.18 revenue$313,891,000

Net sales $313.9M, gross loss $3.2M vs gross profit $4.8M a year ago.
Net loss available to common $13.5M ($0.18/share) vs $2.9M ($0.04) in Q1 2022.
Adjusted EBITDA negative $4.5M, down from positive $4.4M in prior-year period.
Cash $21.2M; $40M term loan available (up to $65M with accordion).
CEO expects positive Adjusted EBITDA in Q2 2023 based on current ethanol crush margins.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Alto Ingredients, Inc. reported the quarter ended March 31, 2023 results: revenue $313.9 million, net income $13.5 million, EPS $0.18 per share. Guidance initiated.

Period: the quarter ended March 31, 2023
Revenue: $313.9 million
Net income: $13.5 million
EPS: $0.18 per share
Guidance: initiated
Result: reported results

Exact text from the filing

Financial Results for the Three Months Ended March 31, 2023 Compared to 2022 ● Net sales were $313.9 million, compared to $308.1 million. ● Cost of goods sold was $317.1 million, compared to $303.3 million. ● Gross loss was $3.2 million, compared to gross profit of $4.8 million. ● Selling, general and administrative expenses were $7.9 million, compared to $7.6 million. ● Operating loss was $11.6 million, compared to $2.9 million. ● Net loss available to common stockholders was $13.5 million, or $0.18 per share, compared to $2.9 million, or $0.04 per share.

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Source: SEC EDGAR

accession 0001213900-23-037349

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