Alto Ingredients increases FY2021 gross profit outlook by 50%

Jan. 24, 2022 8:45 AM ETAlto Ingredients, Inc. (ALTO)By: Niloofer Shaikh, SA News Editor11 Comments
  • Alto Ingredients (NASDAQ:ALTO) now expects FY2021 gross profit to exceed $60M vs. prior guidance of a minimum of $40M.
  • 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 Q4 results in the first half of March 2022.
  • Last week, the company announced acquisition of Eagle Alcohol Company for $14M.

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