Alto Ingredients Inc (ALTO) said after close Monday that it lost $0.18 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $273.6 million, missing estimates by $19.1 million.
In the same quarter a year ago, the company lost $0.46 per share on revenue of $328.4 million.
The stock is down 7.21% to $2.06 after the report.
Alto Ingredients Inc's profit margins took a hit as earnings fell at a faster pace than revenues.
Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.
Trading in the five days leading up to the report earned Alto Ingredients Inc a Bullish Sentiment Rank from InvestorsObserver.
Alto Ingredients Inc has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 21, putting Alto Ingredients Inc in the bottom 25% of stocks. The firm set a 52-week high on November 6, 2023 at $4.97 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.
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Alto Ingredients Inc Down 7.21% To $2.06 After Earnings Miss
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