Alto Ingredients reports Q1 EPS 5c, two estimates (3c)

Reports Q1 revenue $224.7M, consensus $215.67M. The company noted that profitability was driven by strong export sales, higher crush margins, and incremental earnings from Section 45Z tax credits. “In a seasonally weak period for Alto and the industry, we delivered profitability on an adjusted EBITDA and net income basis through the contributions of strong export sales, higher crush margins and incremental earnings from Section 45Z tax credits. Even without the contribution of the tax credits we were profitable,” said CEO Bryon McGregor.