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Alto Ingredients, Inc. Reports First Quarter 2025 Results

- Beverage-grade Liquid CO2 Processor Acquisition and Corporate Reorganization听Deliver Improved Year-over-Year Gross Margin and Adjusted EBITDA -

PEKIN, Ill., May 07, 2025 (GLOBE NEWSWIRE) -- Alto Ingredients, Inc. (NASDAQ: ALTO), a leading producer and distributor of specialty alcohols, renewable fuels and essential ingredients, reported its financial results for the quarter ended March 31, 2025.

Bryon McGregor, President and Chief Executive Officer of Alto Ingredients said, 鈥淒uring the first quarter of 2025, gross margin and Adjusted EBITDA improved year-over-year, reflecting our operational uptime and carbon optimization initiative driven by our recent acquisition. Owning Alto Carbonic, the carbon dioxide processing plant adjacent to our Columbia facility, lowered combined costs, improved operations coordination and increased productivity across the facilities. The rightsizing of our company to align with our current footprint is on track to save approximately $8 million annually beginning in the second quarter of 2025, and the reorganization is yielding additional efficiencies.

鈥淪hifting production to ISCC renewable fuel for delivery into European markets, which is experiencing solid demand at a premium to fuel-grade ethanol, demonstrates Pekin鈥檚 flexibility to capitalize on trends. As a result, we grew ISCC sales as a percentage of our total renewable fuel volume sold at our Pekin Campus during the first quarter and partially offset the domestic industry softening of premiums on high quality alcohol and essential ingredients. We are monitoring a few positive movements, such as the growing state, and potentially national, year round adoption of E15 as well as opportunities under the Illinois Clean Transportation Standard Act (SB41). Our team is proactively evaluating alternatives for new revenue streams to leverage our flexible and unique facilities, and to drive long-term sustainable shareholder value.鈥�

Financial Results for the Three Months Ended March 31, 2025 Compared to 2024

• Net sales were $226.5 million, compared to $240.6 million.
• Cost of goods sold was $228.3 million, compared to $243.0 million.
• Gross loss was $1.8 million, compared to a gross loss of $2.4 million. Net realized gains on derivatives were negligible for both quarters.
• Selling, general and administrative expenses were $7.2 million, compared to $7.9 million.
• Interest expense was $2.7 million, compared to $1.6 million.
• Net loss attributable to common stockholders was $12.0 million, or $0.16 per share, compared to $12.0 million, or $0.17 per share.
• Adjusted EBITDA was negative $4.4 million, including $1.6 million in unrealized gains on derivatives, compared to negative $7.1 million, including $3.2 million in unrealized gains on derivatives.
  

Cash and cash equivalents were $26.8 million at March 31, 2025, compared to $35.5 million at December 31, 2024. At March 31, 2025, the company鈥檚 borrowing availability was $76.7 million including $11.7 million under the company鈥檚 operating line of credit and $65.0 million under its term loan facility, subject to certain conditions.

First Quarter 2025 Results Conference Call
Management will host a conference call at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on Wednesday, May 7, 2025, and will deliver prepared remarks via webcast followed by a question-and-answer session.

The webcast for the conference call can be accessed from Alto Ingredients鈥� website at . Alternatively, to receive a number and unique PIN by email, . To dial directly up to twenty minutes prior to the scheduled call time, please dial (833) 630-0017 domestically and (412) 317-1806 internationally. The webcast will be archived for replay on the Alto Ingredients website for one year. In addition, a telephonic replay will be available at 8:00 p.m. Eastern Time on Wednesday, May 7, 2025, through 8:00 p.m. Eastern Time on Wednesday, May 14, 2025. To access the replay, please dial (877) 344-7529. International callers should dial 00-1 412-317-0088. The pass code will be 8723820.

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 for income taxes, asset impairments, unrealized derivative gains and losses, acquisition-related expense 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.

About Alto Ingredients, Inc.
Alto Ingredients, Inc. (NASDAQ: ALTO) is a leading producer and distributor of specialty alcohols, renewable fuels and essential ingredients. 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听.

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鈥� estimated or anticipated future results or other non-historical expressions of fact are forward-looking statements that reflect Alto Ingredients鈥� 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 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥減lan,鈥� 鈥渃ould,鈥� 鈥渟hould,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渇orecast,鈥� 鈥渙utlook,鈥� 鈥済uidance,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥渕ight,鈥� 鈥渨ill,鈥� 鈥減ossible,鈥� 鈥減otential,鈥� 鈥減redict,鈥� 鈥減roject,鈥� or other similar words, phrases or expressions. Such forward-looking statements include, but are not limited to, statements concerning Alto Ingredients鈥� projected outlook and future performance, including the timing and effects of its business rationalization, right-sizing and other cost savings initiatives; expectations around the growing state, and potentially national, adoption of E15 and opportunities under new legislation, including the Illinois Clean Transportation Standard Act; and Alto Ingredients鈥� other plans, objectives, expectations and intentions. It is important to note that Alto Ingredients鈥� plans, objectives, expectations and intentions are not predictions of actual performance. Actual results may differ materially from Alto Ingredients鈥� current expectations depending upon a number of factors affecting Alto Ingredients鈥� 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鈥檚 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; Alto Ingredients鈥� ability to timely and fully realize the results of its cost saving initiatives; regulatory developments and Alto Ingredients鈥� ability to successfully pursue and secure opportunities under existing and new legislation. 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鈥� 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鈥� 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鈥� filings with the Securities and Exchange Commission including, specifically, those factors set forth in the 鈥淩isk Factors鈥� section contained in Alto Ingredients鈥� Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 13, 2025.

Company IR and Media Contact:
Michael Kramer, Alto Ingredients, Inc., 916-403-2755

IR Agency Contact:
Kirsten Chapman, Alliance Advisors Investor Relations, 415-433-3777

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(1)听 Assumes corn conversion of 2.80 gallons of alcohol per bushel of corn.
(2)听 Essential ingredients revenues as a percentage of total corn costs consumed.