Business
Alto Ingredients, Inc. Reports Fourth Quarter and Full Year 2021 Results
Increased Net Sales 128% to $385 Million and Gross Profit 209% to $42 Million in Q4 2021 vs. Q4 2020Improved Net Income Available to Common Stockholders to
About this update from Alto Ingredients, Inc.
[{"type":"text","content":"Increased Net Sales 128% to $385 Million and Gross Profit 209% to $42 Million in Q4 2021 vs. Q4 2020Improved Net Income Available to Common Stockholders to $35 Million from Net Loss of $21 Million and Adjusted EBITDA 168% to $43 Million in Q4 2021 vs. Q4 2020Grew Net Sales 35% to $1.2 Billion and Gross Profit 28% to $68 Million in 2021 vs. 2020Improved Net Income Available to Common Stockholders to $44 Million and Adjusted EBITDA 15% to $77 Million in 2021 vs. 2020Acquired Specialty Alcohol Distributor, Eagle Alcohol, in January 2022 SACRAMENTO, Calif., March 10, 2022 (GLOBE NEWSWIRE) -- Alto Ingredients, Inc. (NASDAQ: ALTO), a leading producer and distributor of specialty alcohols and essential ingredients, reported its fourth quarter and full year 2021 financial results for the year ended December 31, 2021. “In 2021, by focusing on higher margin, consistent revenue markets, we succeeded in becoming a profitable business with significant, unique opportunities for top- and bottom-line growth,” said Mike Kandris, CEO of Alto Ingredients. “During 2021, we invested in capacity, expanded our protein strategy, optimized assets, and secured valuable certifications. As a result, net sales reached $1.2 billion, up 35% over 2020, reflecting the solid specialty alcohol and essential ingredients business throughout the year and exceptional renewable fuel margins in the fourth quarter of 2021. In January 2022, we completed a downstream integration by acquiring a small-package distributor, Eagle Alcohol. Eagle fits perfectly into our strategic roadmap as we continue to raise the quality of our production to the highest grades of grain neutral spirits by further enhancing our distillation process, optimizing our production capabilities and integrating Eagle’s strong distribution and sales services. Also, Eagle further diversifies our business with less emphasis on revenue related to commodities. Looking ahead, we plan to invest further in key differentiating assets as well as evaluate capital expenditure programs to create long-term stakeholder value.” Financial Results for the Three Months Ended December 31, 2021 Compared to 2020 Net sales were $385.5 million, compared to $168.8 million.Cost of goods sold was $343.4 million, compared to $155.2 million.Gross profit was $42.1 million, compared to $13.6 million.Selling, general and administrati...