Earnings Call Summary | Alto Ingredients(ALTO.US) Q1 2024 Earnings Conference
Earnings Call Summary | Alto Ingredients(ALTO.US) Q1 2024 Earnings Conference
The following is a summary of the Alto Ingredients, Inc. (ALTO) Q1 2024 Earnings Call Transcript:
以下是Alto Ingredients, Inc.（ALTO）2024年第一季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
Alto Ingredients reported Q1 2024 net sales of $241 million, down from $314 million in Q1 2023 due to lower market prices.
The company sold the same volume of 99 million gallons during both Q1 2024 and 2023.
The gross loss improved by $800,000 and adjusted EBITDA improved by $3.4 million in Q1 2024 compared to Q1 2023, reflecting better ethanol crush margins, increased sales of specialty alcohol, and efficiency efforts. However, these were somewhat offset by a $4.9 million loss from natural gas hedging activities.
由于市场价格下跌，Alto Ingredients报告称，2024年第一季度净销售额为2.41亿美元，低于2023年第一季度的3.14亿美元。
该公司在2024年第一季度和2023年第一季度均销售了相同数量的9900万加仑。
与2023年第一季度相比，2024年第一季度的总亏损增加了80万美元，调整后的息税折旧摊销前利润增加了340万美元，这反映了乙醇压碎利润率的提高，特种酒精销售的增加以及效率方面的努力。但是，天然气套期保值活动造成的490万美元损失在一定程度上抵消了这些损失。
Business Progress:
业务进展：
Alto Ingredients has prioritized refining operations to produce a mix of essential ingredients and the top quality beverage alcohol.
The Carbon Capture and Storage (CCS) initiative is being prioritized, with negotiations ongoing with potential financial partners and with Vault, a leading CCS developer.
Sales of specialty alcohol products have increased, with 26 million gallons sold in Q1 2024, a rise from 21 million gallons in Q1 2023.
The company completed maintenance and upgrades at their Pekin campus wet mill, which is expected to enhance consistency and boost production rates.
Work is ongoing at Magic Valley to reduce the impact of low-crush margins and high destination corn basis in an effort to return the facility to sustainable profitability.
Other opportunities, such as sustainable aviation fuel (SAF), are being explored, and CapEx target for 2024 is set to be kept below $25 million, down from the figures of the past two years.
Alto Ingredients已将精炼业务列为优先事项，以生产必需原料和最优质的饮料酒精的混合物。
碳捕集与封存（CCS）计划被列为优先事项，与潜在金融合作伙伴和领先的CCS开发商Vault的谈判仍在进行中。
特种酒精产品的销售有所增加，2024年第一季度的销售量为2600万加仑，高于2023年第一季度的2100万加仑。
该公司完成了其北京园区湿磨机的维护和升级，预计这将提高一致性并提高生产率。
Magic Valley正在努力减少低压榨利润率和高目的地玉米基础的影响，以使该设施恢复可持续的盈利能力。
其他机会，例如可持续航空燃料（SAF），正在探索中，2024年的资本支出目标将保持在2500万美元以下，低于过去两年的数字。
More details: Alto Ingredients IR
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