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Alto Ingredients (NASDAQ:ALTO)! (And unfortunately, I do own shares of Alto Ingredients.) The company formerly known as Pacific Ethanol reported its fiscal Q4 and full-year 2020 earnings last night, and the news was not good. Alto missed earnings badly, posting a $0.30 loss per share when analysts had predicted a $0.24 profit. Revenue of $168.8 million also failed to meet analysts consensus estimate of $234.2 million. Image source: Getty Images. So what Alto shares are down a staggering 19% as of 12:40 p.m. EST, and I cannot say the sell-off is unjustified. Although CEO Mike Kandris tried to put a brave face on the results, noting that Alto significantly increased production of our profitable specialty alcohols in 2020, reduced the impact of unprofitable fuel-grade operations by idling or selling assets, and lowered operating and overhead expenses, and generated Adjusted EBITDA of over $67 million, the fact remains: Alto lost money. ....
Alto Ingredients Awarded Active Pharmaceutical Ingredient Certification SACRAMENTO, Calif., Feb. 03, 2021 (GLOBE NEWSWIRE) Alto Ingredients, Inc. (NASDAQ: ALTO), a leading producer of specialty alcohols and essential ingredients, announced its Illinois Corn Processing (ICP) facility is now ICH Q7 certified. Mike Kandris, Alto Ingredients’ CEO, said, “Our commitment to provide our customers the absolute best quality products is reflected by this significant achievement. In October of 2020, we obtained our ISO 9001 certification, the world’s most widely recognized standard for quality management systems. Now with our internationally recognized ICH Q7 certification, our alcohol is certified for use as an active pharmaceutical ingredient. Markets for our alcohol include use in beauty and oral care products such as foundation and mouthwash, in addition to other uses within the pharmaceutical and personal care product industries. Our dedication to quality required t ....