알토 인그리디언츠 (ALTO)

Alto Ingredients Inc Stock (ALTO) dropped by 60.73% from $4.915 to $1.93 in the trading on Tuesday November 7, 2023. The reason why ALTO stock down today is due to its ** mixed third-quarter earnings results**.

• Net sales of $318.1 million, topped the consensus of $308.7 million. Gross profit stood at $4.2 million, vs. a gross loss of $(19.8) million the prior year.
• EPS loss of $(0.05), missed the consensus of $0.10. Adjusted EBITDA came in at $4.7 million versus a loss of $(20.6) million a year ago.
• Q3 results reflect the contribution from stronger ethanol crush margins partly offset by the impact of unusually high unscheduled downtime that lowered the anticipated production volumes and shifted the mix toward lower margin products.