Alto Ingredients, Inc. Increases 2021 Gross Profit Guidance 50% to Over $60 Million
25 January 2022 - 12:30AM
Alto Ingredients, Inc. (NASDAQ: ALTO), a leading
producer of specialty alcohols and essential ingredients, updated
its full-year 2021 gross profit guidance.
The company now expects full-year 2021 gross profit
to exceed $60 million. This is an increase from prior guidance of a
minimum of $40 million dollars, provided on November 9, 2021, in
conjunction with reporting the third quarter 2021 results.
Michael Kandris, Alto Ingredients’ president and
CEO, stated, “Due to strong fourth quarter fuel ethanol margins
combined with our operational improvements, we have increased our
full-year 2021 gross profit guidance by 50% to over $60
million.”
Management expects to report fourth quarter and
year-end 2021 financial results in the first half of March
2022.
About Alto Ingredients, Inc.
Alto Ingredients, Inc. (ALTO) is a leading producer of specialty
alcohols and essential ingredients. The company is focused on
products for four key markets: Health, Home & Beauty; Food
& Beverage; Essential Ingredients; and Renewable Fuels. The
company’s customers include major food and beverage companies and
consumer products companies. For more information, please visit
www.altoingredients.com.
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995
Statements and information contained in this communication that
refer to or include Alto Ingredients’ estimated or anticipated
future results or other non-historical expressions of fact are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements include without limitation those about Alto Ingredients’
expected future financial results. These statements involve risks
and uncertainties, and actual results may differ. Risks and
uncertainties include without limitation: adverse economic and
market conditions, including for specialty alcohols and essential
ingredients; export conditions and international demand for Alto
Ingredients’ products; fluctuations in the price of and demand for
oil and gasoline; raw material costs, including production input
costs, such as corn and natural gas; and the effects – both
positive and negative – of the coronavirus pandemic and its
resurgence or abatement; the inherent uncertainty associated with
financial and other projections; the anticipated size of the
markets and continued demand for Alto Ingredients’ products; the
impact of competitive products and pricing; the risks and
uncertainties normally incident to the specialty alcohol production
and marketing industries; changes in generally accepted accounting
principles; successful compliance with governmental regulations
applicable to Alto Ingredients’ facilities, products and/or
businesses; changes in laws, regulations and governmental policies;
the loss of key senior management or staff; and other events,
factors and risks previously and from time to time disclosed in
Alto Ingredients’ filings with the Securities and Exchange
Commission including in the “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” sections of Alto Ingredients’ most recently filed
periodic reports on Form 10-K and Form 10-Q and subsequent filings.
Alto Ingredients assumes no obligation to further update its gross
profit guidance for the full-year 2021, or any other
forward-looking statements or information, which speak as of their
respective dates.
Media Contact:
Bryon McGregor, Alto Ingredients, Inc., 916-403-2768,
mediarelations@altoingredients.com
Company IR Contact:
Michael Kramer, Alto Ingredients, Inc., 916-403-2755,
Investorrelations@altoingredients.com
IR Agency Contact:
Kirsten Chapman, LHA Investor Relations, 415-433-3777,
Investorrelations@altoingredients.com
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