Alto Ingredients Inc Down 53.62% To $2.17 After Earnings Miss

Tuesday, November 7, 2023 - Alto Ingredients Inc (ALTO) reported downside earnings and upside revenues.

Alto Ingredients Inc's earnings came in at an EPS of $0.05 per share, 44% lower than estimates for an EPS of $0.09 per share. The firm's earnings are up 113% since reporting losses of $0.39 per share in the same period a year ago.

Revenues were upbeat at $318.1 million. That represents a 5.57% decrease in revenues from the year-ago report and is 3.05% higher than consensus estimates set at $308.7 million.

The stock is down 53.62% to $2.17 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Alto Ingredients Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 95, putting Alto Ingredients Inc in the top 25% of stocks. The firm was recently trading at a 52-week high of $4.97 on November 6, 2023 and set a 52-week low on May 2, 2023 at $1.2.

Alto Ingredients Inc is a producer of specialty alcohols and essential ingredients. The company serves five markets: Health, Home & Beauty, Food & Beverage, Essential Ingredients, and Renewable Fuels. Its customers include major food and beverage companies and consumer products manufacturers and distributors. The company operates under three segments: Marketing and distribution, Pekin Campus production, and Other production. The Marketing and distribution segment participates in marketing and merchant trading for alcohols and essential ingredients; Pekin Campus produces and sells products produced at the company's Pekin, Illinois, campus, and about half of the firm's revenue flows from this segment. Other production makes and sells from the company's other production facilities.