secwatch.observer — SEC 8-K summary
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Issuer:     Alto Ingredients, Inc. (ALTO)
CIK:        0000778164
Form:       8-K
Filed at:   2023-08-07T23:59:59+00:00
Accession:  0001213900-23-064073
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alto Ingredients posts Q2 net income $7.2M; appoints Bryon McGregor as CEO and Robert Olander as CFO
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- Q2 net sales $317.3M (down 12% YoY); net income $7.2M/$0.10 diluted EPS vs $21.5M/$0.29 incl. $22.7M USDA grant.
- Adjusted EBITDA $15.5M vs $29.9M (incl. $22.7M grant); operating income $9.3M vs prior loss of $152,000.
- Expects positive adjusted EBITDA in Q3 2023; targets annual EBITDA increase of $125M by end of 2026 via carbon capture and other projects.
- Bryon McGregor (former CFO) appointed President/CEO effective Aug 1; Michael Kandris retired as CEO, appointed Interim COO for up to one year.
- Robert Olander (former VP, Corporate Controller) appointed CFO effective Aug 1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/778164/000121390023064073/0001213900-23-064073-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/778164/000121390023064073/ea182962-8k_altoing.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-064073

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer