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1.48
3.27%
-0.05
Why is Alto Ingredients Inc (ALTO) Stock down?
We've noticed a 37.63% decline in Alto Ingredients Inc (ALTO) stock during the 2024-11-07 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
07 Nov, 2023:
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.
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