- The stock price of Alto Ingredients Inc (NASDAQ: ALTO) increased by 11.18% today. This is why it happened.
The stock price of Alto Ingredients Inc (NASDAQ: ALTO) – a leading producer of specialty alcohols and essential ingredients – increased by 11.18% today. Investors are responding positively to Alto Ingredients updating its full-year 2021 gross profit guidance.
Now the company expects full-year 2021 gross profit to exceed $60 million. And this is an increase from prior guidance of a minimum of $40 million dollars, provided on November 9, 2021, in conjunction with reporting the third quarter 2021 results.
Management expects to report fourth-quarter and year-end 2021 financial results in the first half of March 2022.
KEY QUOTES:
“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.”
— Michael Kandris, Alto Ingredients’ president and CEO
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
