Vertex Energy Q1 net loss $17.7M; adjusted EBITDA $18.6M; pivots hydrocracker from renewables to conventional

Vertex Energy Inc.

2024-Q1 EPS reported -$0.19 revenue$695,326,000

Net loss $17.7M ($0.19/diluted share) improved from Q4; adjusted EBITDA $18.6M driven by 28% higher crack spreads.
Conventional throughput 64,065 bpd above guidance high end; renewable diesel throughput 4,090 bpd in line.
Plans to optimize hydrocracker from renewable diesel to conventional production; conversion timed with planned catalyst change in Q4 2024.
Direct operating expense down 11%, capex down 29% vs guidance midpoints; cash & equivalents $65.7M (incl. restricted $3.6M).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vertex Energy Inc. reported the first quarter of 2024 results: net income ($17.7) million, or ($0.19) per fully-diluted share, EPS ($0.19) per fully-diluted share.

Period: the first quarter of 2024
Net income: ($17.7) million, or ($0.19) per fully-diluted share
EPS: ($0.19) per fully-diluted share
Result: reported results

Exact text from the filing

Vertex Energy, Inc. (NASDAQ:VTNR) (“Vertex” or the “Company”), a leading specialty refiner and marketer of high-quality refined products and renewable fuels, today announced its operational and financial results for the first quarter of 2024.

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Source: SEC EDGAR

accession 0001839882-24-014960

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