Alto Ingredients第二季淨銷售2.457億美元 連續四季錄得正盈利

EX-99.1
2
ea030066901ex99-1.htm
PRESS RELEASE DATED AUGUST 5, 2026

 

Exhibit 99.1

 

 

 

Alto
Ingredients, Inc. Reports Second Quarter 2026 Results

 

Q2
2026 Gross Profit of $16.6 Million Increased $18.6 Million
Q2 2026 Net Income of $11.4 Million, or $0.15 per Share, Improved $22.7 Million
Q2 2026 Adjusted EBITDA of $23.7 Million Improved $23.9 Million 

 

Pekin,
Ill., August 5, 2026 – Alto Ingredients, Inc. (NASDAQ: ALTO), a leading producer and distributor of renewable fuels, essential
ingredients and specialty alcohols, reported its financial results for the quarter ended June 30, 2026.

 

“Alto’s
second quarter results mark the fourth consecutive quarter of positive gross profit, income from operations, net income and adjusted
EBITDA. We have maintained consistent profitability over this period even before the contribution of earnings from 45Z tax credits. These
results demonstrate the benefits of our diversification strategy, which gives us the flexibility to shift production toward the most
attractive end markets and capture premium-value opportunities,” said President and Chief Executive Officer Bryon McGregor.

 

“Having
begun a strategic realignment three years ago, we now have a diversified product portfolio, a leaner cost structure and an operating
model capable of generating positive adjusted EBITDA through commodity cycles while providing meaningful upside when market conditions
are favorable,” added Mr. McGregor. “In addition, we have numerous initiatives in process and ahead of us to expand capacity,
optimize CO2 production, improve efficiencies and increase our earnings from 45Z tax credits.”

 

Mr.
McGregor concluded, “Our second quarter and latest 12-month financial results, combined with our ability to execute on high-return
opportunities, reinforce our confidence in Alto’s ability to generate sustainable earnings and create long-term shareholder value.”

 

Rob
Olander, Chief Financial Officer, added that, “Today, we established a $50 million at-the-market equity program. Alongside our
available borrowing capacity and operating cash flow, the ATM program provides additional financial flexibility and a prudent, low-cost
tool to effectively access equity capital. We see a number of attractive, high-return organic opportunities across
our platform. Having the ATM program in place allows us to remain prepared to pursue those opportunities when expected returns, market
conditions and shareholder interests align. Any use of the program would be disciplined, measured and evaluated against other sources
of available capital.”

 

Financial
Results for the Three Months Ended June 30, 2026 Compared to 2025

 

 
  
 ●
 Net sales were $245.7 million, compared to
 $218.4 million.

 

 

●Cost
 of goods sold was $229.1 million, compared to $220.4 million.

 

●Gross
 profit was $16.6 million, compared to a gross loss of $1.9 million.

 

 1

 

 

 

 

 

●Selling,
 general and administrative expenses were $8.0 million, compared to $6.2 million.

 

●Interest
 expense was $2.0 million, compared to $2.8 million.

 

●Net
 income attributable to common stockholders was $11.4 million, or $0.15 per diluted share,
 compared to a net loss of $11.3 million, or $0.15 per share.

 

●Adjusted
 EBITDA was $23.7 million, compared to negative $0.2 million, an increase of $23.9 million.

 

Cash
and cash equivalents at June 30, 2026 were $24.0 million, compared to $23.4 million at December 31, 2025. The company’s borrowing
availability at June 30, 2026 was $106 million, including $41 million under the company’s operating line of credit and $65 million
under its term loan facility.

 

Second
Quarter 2026 Results Conference Call

 

Management
will host a conference call at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on Wednesday, August 5, 2026, and will deliver prepared
remarks via webcast followed by a question-and-answer session.

 

To
receive a number and unique PIN by email, register here. To dial directly
up to 20 minutes prior to the scheduled call time, please dial (833) 630-0017 domestically and (412) 317-1806 internationally. Alternatively,
the webcast for the conference call can be accessed from Alto Ingredients’ website at www.altoingredients.com
and will be available for one year.

 

Use
of Non-GAAP Measures

 

Management
believes that certain financial measures not in accordance with generally accepted accounting principles (“GAAP”) are useful
measures of operations. The company defines Adjusted EBITDA as unaudited consolidated net income (loss) before interest expense, interest
income, provision (benefit) for income taxes, asset impairments, unrealized derivative gains and losses, acquisition-related expense,
excess insurance proceeds and depreciation and amortization expense. A table is provided at the end of this release that provides a reconciliation
of Adjusted EBITDA to its most directly comparable GAAP measure, net income (loss). Management provides this non-GAAP measure so that
investors will have the same financial information that management uses, which may assist investors in properly assessing the company’s
performance on a period-over-period basis. Adjusted EBITDA is not a measure of financial performance under GAAP and should not be considered
as an alternative to net income (loss) or any other measure of performance under GAAP, or to cash flows from operating, investing or
financing activities as an indicator of cash flows or as a measure of liquidity. Adjusted EBITDA has limitations as an analytical tool,
and you should not consider this measure in isolation or as a substitute for analysis of the company’s results as reported under GAAP.

 

 2

 

 

 

 

 

About
Alto Ingredients, Inc.

 

Alto
Ingredients, Inc. (NASDAQ: ALTO) is a leading producer and distributor of renewable fuels, essential ingredients and specialty alcohols.
Leveraging the unique qualities of its facilities, the company serves customers in a wide range of consumer and commercial products in
the Health, Home & Beauty; Food & Beverage; Industry & Agriculture; Essential Ingredients; and Renewable Fuels markets. 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 that reflect Alto Ingredients’ current perspective of
existing trends and information as of the date of the communication. Forward-looking statements generally will be accompanied by words
such as “anticipate,” “believe,” “plan,” “could,” “should,” “estimate,”
“expect,” “forecast,” “outlook,” “guidance,” “intend,” “may,”
“might,” “will,” “possible,” “potential,” “predict,” “project,”
or other similar words, phrases or expressions. Such forward-looking statements include, but are not limited to, statements concerning
Alto Ingredients’ expectations around expanding production capacity; profitability and executing on opportunities to grow earnings,
including through improved utilization and reliability, optimization and capital projects, and monetizing additional Section 45Z tax
credits; the use and benefits of its ATM program, including returns that Alto Ingredients may generate from using funds, if any, from
the program to make capital investments; and Alto Ingredients’ other plans, objectives, expectations and intentions. It is important
to note that Alto Ingredients’ plans, objectives, expectations and intentions are not predictions of actual performance. Actual
results may differ materially from Alto Ingredients’ current expectations depending upon a number of factors affecting Alto Ingredients’
business and plans. These factors include, among others, adverse economic and market conditions, including for renewable fuels, specialty
alcohols and essential ingredients; export conditions and international demand for the company’s 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; adverse
impacts of inflation and supply chain constraints, including from tariffs; prevailing market prices and trading volumes of Alto Ingredients’
stock; Alto Ingredients’ ability, if desirable, to execute on its ATM program; Alto Ingredients’ ability to timely and within
budget execute on its optimization and capital projects; regulatory developments and Alto Ingredients’ ability to successfully
pursue and secure opportunities, and realize the expected results, under existing and new legislation, including the Section 45Z regulations,
and to successfully apply for and receive anticipated credit amounts. These factors also include, among others, 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 alcohol production, marketing
and distribution 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, specifically, those factors set forth in the “Risk Factors”
section contained in Alto Ingredients’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 8,
2026.

 

Company
IR and Media Contact: 

 

Michael
Kramer, Alto Ingredients, Inc., 916-403-2755

[email protected]

 

IR
Agency Contact:

 

Jody
Burfening, Alliance Advisors Investor Relations, 212-838-3777, 

[email protected] 

 

 3

 

 

 

 

 

ALTO
INGREDIENTS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited,
in thousands, except per share data)

  

 
   
 Three Months Ended June 30,  
 Six Months Ended June 30, 

 
   
 2026  
 2025  
 2026  
 2025 

 
   
    
    
    
   

 
 Net sales 
 $245,698  
 $218,436  
 $470,378  
 $444,976 

 
 Cost of goods sold 
  229,062  
  220,373  
  444,523  
  448,720 

 
 Gross profit (loss) 
  16,636  
  (1,937) 
  25,855  
  (3,744)

 
 Selling, general and administrative expenses 
  8,017  
  6,171  
  14,716  
  13,361 

 
 Income (loss) from operations 
  8,619  
  (8,108) 
  11,139  
  (17,105)

 
 Interest expense, net 
  (1,960) 
  (2,811) 
  (4,158) 
  (5,540)

 
 Transferable tax credits, net 
  5,112  
  —  
  9,012  
  — 

 
 Other expense, net 
  (70) 
  (78) 
  (21) 
  (31)

 
 Income (loss) before provision for income taxes 
  11,701  
  (10,997) 
  15,972  
  (22,676)

 
 Provision for income taxes 
  —  
  —  
  —  
  — 

 
 Net income (loss) 
 $11,701  
 $(10,997) 
 $15,972  
 $(22,676)

 
 Preferred stock dividends 
 $(315) 
 $(315) 
 $(627) 
 $(627)

 
 Net income (loss) attributable to common stockholders 
 $11,386  
 $(11,312) 
 $15,345  
 $(23,303)

 
 Net income (loss) per share, basic 
 $0.15  
 $(0.15) 
 $0.20  
 $(0.31)

 
 Net income (loss) per share, diluted 
 $0.15  
 $(0.15) 
 $0.20  
 $(0.31)

 
 Weighted-average shares outstanding, basic 
  75,588  
  74,611  
  75,191  
  74,232 

 
 Weighted-average shares outstanding, diluted 
  77,071  
  74,611  
  76,609  
  74,232 

 

 

 4

 

 

  

 

 

ALTO
INGREDIENTS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited, in thousands, except par value)

  

 
 ASSETS 
 June 30,
 2026  
 December 31, 
2025 

 
 Current Assets: 
    
   

 
 Cash and cash equivalents 
 $23,962  
 $23,415 

 
 Restricted cash 
  —  
  2,258 

 
 Accounts receivable, net 
  67,889  
  55,069 

 
 Inventories 
  51,609  
  61,676 

 
 Transferable tax credits, net 
  8,265  
  7,500 

 
 Derivative instruments 
  4,173  
  525 

 
 Other current assets 
  4,926  
  5,474 

 
 Total current assets 
  160,824  
  155,917 

 
 Property and equipment, net 
  197,479  
  198,501 

 
 Other Assets: 
     
    

 
 Right of use operating lease assets, net 
  21,492  
  16,931 

 
 Intangible assets, net 
  7,264  
  7,574 

 
 Other assets 
  10,011  
  9,863 

 
 Total other assets 
  38,767  
  34,368 

 
 Total Assets 
 $397,070  
 $388,786 

 

 

 5

 

 

 

 

 

ALTO
INGREDIENTS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(unaudited, in thousands, except par value)

 

 
  
 June 30,
 2026  
 December 31, 
2025 

 
 LIABILITIES AND STOCKHOLDERS’ EQUITY 
    
   

 
 Current Liabilities: 
    
   

 
 Accounts payable 
 $24,219  
 $14,509 

 
 Accrued liabilities 
  16,424  
  16,691 

 
 Current portion – long-term debt 
  —  
  16,600 

 
 Current portion – operating leases 
  4,916  
  4,958 

 
 Derivative instruments 
  277  
  1,067 

 
 Other current liabilities 
  4,561  
  5,246 

 
 Total current liabilities 
  50,397  
  59,071 

 
   
     
    

 
 Long-term debt, net 
  60,469  
  63,027 

 
 Operating leases, net of current portion 
  17,553  
  13,012 

 
 Other liabilities 
  8,774  
  8,435 

 
 Total Liabilities 
  137,193  
  143,545 

 
   
     
    

 
 Stockholders’ Equity: 
     
    

 
 Preferred stock, $0.001 par value; 10,000 shares authorized; Series A: no shares issued and outstanding as of June 30, 2026 and December 31, 2025 Series B: 927 shares issued and outstanding as of June 30, 2026 and December 31, 2025 
  1  
  1 

 
 Common stock, $0.001 par value; 300,000 shares authorized; 77,576 and 77,307 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 
  78  
  77 

 
 Non-voting common stock, $0.001 par value; 3,553 shares authorized; 1 share issued and outstanding as of June 30, 2026 and December 31, 2025 
  —  
  — 

 
 Additional paid-in capital 
  1,051,085  
  1,051,795 

 
 Accumulated other comprehensive income 
  5,461  
  5,461 

 
 Accumulated deficit 
  (796,748) 
  (812,093)

 
 Total Stockholders’ Equity 
  259,877  
  245,241 

 
 Total Liabilities and Stockholders’ Equity 
 $397,070  
 $388,786 

 

 

 6

 

 

 

 

 

Reconciliation
of Adjusted EBITDA to Net Income (Loss)

 

 
   
 Three Months Ended June 30,  
 Six Months Ended June 30, 

 
 (in thousands) (unaudited) 
 2026  
 2025  
 2026  
 2025 

 
 Net income (loss) 
 $11,701  
 $(10,997) 
 $15,972  
 $(22,676)

 
 Adjustments: 
     
     
     
    

 
 Interest expense 
  1,960  
  2,811  
  4,158  
  5,540 

 
 Interest income 
  (87) 
  (67) 
  (165) 
  (150)

 
 Unrealized derivative losses (gains) 
  3,634  
  2,117  
  (4,439) 
  483 

 
 Acquisition-related income 
  —  
  (460) 
  —  
  (460)

 
 Depreciation and amortization expense 
  6,452  
  6,365  
  12,819  
  12,631 

 
 Total adjustments 
  11,959  
  10,766  
  12,373  
  18,044 

 
 Adjusted EBITDA 
 $23,660  
 $(231) 
 $28,345  
 $(4,632)

 

  

 7

 

 

 

 

 

Segment
Financials (in thousands) (unaudited)

 

 
   
 Three Months Ended June 30,  
 Six Months Ended June 30, 

 
   
 2026  
 2025  
 2026  
 2025 

 
 Net Sales 
    
    
    
   

 
 Pekin Campus production: 
    
    
    
   

 
 Alcohol sales 
 $114,370  
 $94,155  
 $222,321  
 $201,390 

 
 Essential ingredient sales 
  45,071  
  39,565  
  89,064  
  84,183 

 
 Intersegment sales 
  229  
  183  
  492  
  481 

 
 Total Pekin Campus sales 
  159,670  
  133,903  
  311,877  
  286,054 

 
   
     
     
     
    

 
 Marketing and distribution: 
     
     
     
    

 
 Alcohol sales, gross 
 $54,612  
 $58,106  
 $101,889  
 $107,101 

 
 Alcohol sales, net 
  60  
  80  
  109  
  142 

 
 Intersegment sales 
  2,512  
  2,334  
  4,962  
  4,840 

 
 Total marketing and distribution sales 
  57,184  
  60,520  
  106,960  
  112,083 

 
   
     
     
     
    

 
 Western production: 
     
     
     
    

 
 Alcohol sales 
 $20,798  
 $16,604  
 $37,479  
 $32,798 

 
 Essential ingredient sales 
  8,843  
  8,250  
  16,123  
  16,058 

 
 Intersegment sales 
  449  
  505  
  848  
  769 

 
 Total Western production sales 
  30,090  
  25,359  
  54,450  
  49,625 

 
   
     
     
     
    

 
 Corporate and other 
  1,944  
  1,676  
  3,393  
  3,304 

 
 Intersegment eliminations 
  (3,190) 
  (3,022) 
  (6,302) 
  (6,090)

 
 Net sales as reported 
 $245,698  
 $218,436  
 $470,378  
 $444,976 

 
 Cost of goods sold: 
     
     
     
    

 
 Pekin Campus production 
 $148,148  
 $139,748  
 $292,918  
 $294,974 

 
 Marketing and distribution 
  53,404  
  56,518  
  99,442  
  104,167 

 
 Western production 
  27,955  
  23,501  
  52,707  
  49,024 

 
 Corporate and other 
  1,010  
  1,705  
  2,046  
  3,386 

 
 Intersegment eliminations 
  (1,455) 
  (1,099) 
  (2,590) 
  (2,831)

 
 Cost of goods sold as reported 
 $229,062  
 $220,373  
 $444,523  
 $448,720 

 
 Gross profit (loss): 
     
     
     
    

 
 Pekin Campus production 
 $11,522  
 $(5,845) 
 $18,959  
 $(8,920)

 
 Marketing and distribution 
  3,780  
  4,002  
  7,518  
  7,916 

 
 Western production 
  2,135  
  1,858  
  1,743  
  601 

 
 Corporate and other 
  934  
  (29) 
  1,347  
  (82)

 
 Intersegment eliminations 
  (1,735) 
  (1,923) 
  (3,712) 
  (3,259)

 
 Gross profit (loss) as reported 
 $16,636  
 $(1,937) 
 $25,855  
 $(3,744)

 

  

 8

 

 

 

 

 

Sales
and Operating Metrics (unaudited)

 

 
   
 Three Months Ended June 30,  
 Six Months Ended June 30, 

 
   
 2026  
 2025  
 2026  
 2025 

 
 Alcohol Sales (gallons in millions) 
    
    
    
   

 
 Pekin Campus renewable fuel gallons sold 
  31.6  
  28.8  
  62.8  
  61.4 

 
 Western production renewable fuel gallons sold 
  9.4  
  8.3  
  17.6  
  16.6 

 
 Third-party renewable fuel gallons sold 
  24.0  
  29.7  
  47.5  
  54.1 

 
 Total renewable fuel gallons sold 
  65.0  
  66.8  
  127.9  
  132.1 

 
 Specialty alcohol gallons sold 
  23.5  
  19.9  
  46.5  
  44.2 

 
 Total gallons sold 
  88.5  
  86.7  
  174.4  
  176.3 

 
   
     
     
     
    

 
 Sales Price per Gallon 
     
     
     
    

 
 Pekin Campus production 
 $2.09  
 $1.95  
 $2.05  
 $1.92 

 
 Western production 
 $2.20  
 $2.00  
 $2.13  
 $1.98 

 
 Marketing and distribution 
 $2.27  
 $1.96  
 $2.14  
 $1.98 

 
 Average sales price per gallon 
 $2.15  
 $1.95  
 $2.08  
 $1.94 

 
   
     
     
     
    

 
 Alcohol Production (gallons in millions) 
     
     
     
    

 
 Pekin Campus production 
  51.8  
  50.9  
  103.0  
  105.2 

 
 Western production 
  9.0  
  8.3  
  16.9  
  16.6 

 
 Total production gallons 
  60.8  
  59.2  
  119.9  
  121.8 

 
   
     
     
     
    

 
 Corn Cost per Bushel 
     
     
     
    

 
 Pekin Campus production 
 $4.58  
 $4.86  
 $4.51  
 $4.75 

 
 Western production 
 $5.59  
 $5.71  
 $5.57  
 $5.83 

 
 Average cost per bushel 
 $4.73  
 $4.98  
 $4.65  
 $4.89 

 

 

 9

 

 

 

 

 

Sales and Operating Metrics
(unaudited)

 

 
  
  
 Three Months Ended June 30,
  
  
 Six Months Ended June 30,
  

 
  
  
 2026
  
  
 2025
  
  
 2026
  
  
 2025
  

 
 Average Market Metrics
  
  
  
  
  
  
  
  
  
  
  
  

 
 PLATTS Ethanol price per gallon
  
 $
 1.92
  
  
 $
 1.72
  
  
 $
 1.82
  
  
 $
 1.72
  

 
 CME Corn cost per bushel
  
 $
 4.44
  
  
 $
 4.51
  
  
 $
 4.41
  
  
 $
 4.62
  

 
 Board corn crush per gallons (1)
  
 $
 0.33
  
  
 $
 0.11
  
  
 $
 0.25
  
  
 $
 0.07
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  

 
 Essential Ingredients Sold (thousand tons)
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  

 
 Pekin Campus production:
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  

 
 Distillers grains
  
  
 68.2
  
  
  
 70.2
  
  
  
 148.6
  
  
  
 160.9
  

 
 CO2
  
  
 45.2
  
  
  
 45.1
  
  
  
 88.5
  
  
  
 90.4
  

 
 Corn wet feed
  
  
 26.3
  
  
  
 28.7
  
  
  
 56.2
  
  
  
 63.2
  

 
 Corn dry feed
  
  
 24.7
  
  
  
 21.4
  
  
  
 45.7
  
  
  
 45.2
  

 
 Corn oil and germ
  
  
 19.1
  
  
  
 18.9
  
  
  
 37.2
  
  
  
 38.5
  

 
 Syrup and other
  
  
 11.9
  
  
  
 11.7
  
  
  
 21.1
  
  
  
 19.9
  

 
 Corn meal
  
  
 8.2
  
  
  
 8.3
  
  
  
 17.7
  
  
  
 17.7
  

 
 Yeast
  
  
 5.9
  
  
  
 5.7
  
  
  
 12.0
  
  
  
 12.1
  

 
 Total Pekin Campus essential ingredients sold
  
  
 209.5
  
  
  
 210.0
  
  
  
 427.0
  
  
  
 447.9
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  

 
 Western production:
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  

 
 Distillers grains
  
  
 67.0
  
  
  
 61.8
  
  
  
 127.1
  
  
  
 119.9
  

 
 CO2
  
  
 14.5
  
  
  
 14.4
  
  
  
 27.3
  
  
  
 27.0
  

 
 Corn oil
  
  
 0.9
  
  
  
 1.0
  
  
  
 1.7
  
  
  
 2.4
  

 
 Syrup and other
  
  
 0.6
  
  
  
 1.2
  
  
  
 1.4
  
  
  
 2.0
  

 
 Total Western production essential ingredients sold
  
  
 83.0
  
  
  
 78.4
  
  
  
 157.5
  
  
  
 151.3
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  

 
 Total Essential Ingredients Sold
  
  
 292.5
  
  
  
 288.4
  
  
  
 584.5
  
  
  
 599.2
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  

 
 Essential ingredients return % (2)
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  

 
 Pekin Campus return
  
  
 51.7
 %
  
  
 44.2
 %
  
  
 52.8
 %
  
  
 46.1
 %

 
 Western production return
  
  
 51.4
 %
  
  
 50.8
 %
  
  
 50.7
 %
  
  
 49.9
 %

 
 Consolidated total return
  
  
 51.6
 %
  
  
 45.2
 %
  
  
 52.5
 %
  
  
 46.7
 %

 

  

 

(1)Assumes
 corn conversion of 2.80 gallons of alcohol per bushel of corn.

(2)Essential
 ingredients revenues as a percentage of total corn costs consumed.

 

####

 

 10