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Futurefuel
(NYSE:FF)
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Rating:68Neutral
Price Target:
$6.00
▲(29.03% Upside)
Action:Reiterated
Date:08/11/26
The score is driven primarily by a mixed financial foundation (strong, low-debt balance sheet but weak recent TTM profitability/cash flow) offset by a strong technical uptrend and an earnings-call-backed turnaround narrative with improving profitability and liquidity. Valuation is supportive via the dividend yield, but the negative P/E underscores that recent losses still weigh on the overall profile.
Positive Factors
Operational Turnaround
The sharp recovery in revenue, gross profit and EBITDA shows improved operating leverage across both segments. If production gains and pricing hold, this turnaround could restore earnings capacity after the recent loss-making period.
Negative Factors
Unproven Sustainable Profitability
Despite the Q2 rebound, trailing results show that earnings and cash generation have not yet normalized. Continued losses could erode the $153.1M equity base and constrain investment if the recent improvement is not sustained.
Read all positive and negative factors
Positive Factors
Negative Factors
Operational Turnaround
The sharp recovery in revenue, gross profit and EBITDA shows improved operating leverage across both segments. If production gains and pricing hold, this turnaround could restore earnings capacity after the recent loss-making period.
Read all positive factors
Futurefuel (FF) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$243.88M
Dividend Yield3.42%
Average Volume (3M)291.36K
Price to Earnings (P/E)―
Beta (1Y)0.82
Revenue Growth-7.63%
EPS Growth-15.10%
CountryUS
Employees493
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)-0.70
Shares Outstanding43,863,320
10 Day Avg. Volume336,804
30 Day Avg. Volume291,357
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.90
Price to Sales (P/S)1.46
P/FCF Ratio-3.04
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Futurefuel Business Overview & Revenue Model
Company Description
Operating through its subsidiary, FutureFuel Chemical Company, FutureFuel Corp. manufactures and distributes a broad spectrum of chemical products across the United States, encompassing both bio-based fuels and specialized bio-based chemicals. The...
How the Company Makes Money
FutureFuel makes money primarily through (1) sales of specialty chemical products and (2) sales of biodiesel and related fuel products. In its chemicals business, revenue is generated by manufacturing and delivering specialty chemicals—including c...
Futurefuel Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call emphasized a clear operational turnaround and return to profitability driven by strong revenue growth (+120.7%), higher volumes (+40.4%), improved price realization (+80.2%) and positive adjusted EBITDA, alongside strengthened liquidity and favorable regulatory tailwinds (RFS mandates and 45Z clarity). Key achievements include large YoY gross profit recovery, production increases, improved capacity utilization, customer-funded expansion commitments and a $22M credit monetization expected in H2. Offsetting these positives are persistent elevated feedstock costs, a multi-week biodiesel outage during the quarter, hedging-related volatility, moderate remaining utilization headroom, and long lead times for new customer builds. On balance, the positive developments and financial momentum materially outweigh the challenges.Positive Updates
Strong Revenue Growth
Total revenue of $78.7 million in the quarter, an increase of 120.7% versus $35.7 million in the prior-year quarter, driven by higher throughputs, improved mix, and higher average pricing.
Negative Updates
Elevated Raw Material Input Costs
Soybean oil and other feedstock prices remain elevated and continue to exert near-term pressure on biofuels gross profit per gallon despite stronger finished-product pricing.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue Growth
Total revenue of $78.7 million in the quarter, an increase of 120.7% versus $35.7 million in the prior-year quarter, driven by higher throughputs, improved mix, and higher average pricing.
Read all positive updates
Company Guidance
Guidance emphasized a return to profitable growth with the company "on pace to deliver positive adjusted EBITDA for the full year 2026," and management expects Q3 production to exceed Q2 levels; Q2 metrics included revenue of $78.7 million (up 120.7% YoY), total production +26% YoY, total volume growth +40.4% and blended price +80.2%, total gross profit $15.0 million (vs. a $12.4 million loss prior-year), net income $11.4 million (vs. a $14.2 million loss), and adjusted EBITDA $11.8 million (vs. an $11.4 million loss); chemicals: revenue $25.8 million (+34% production YoY), gross profit $5.0 million, capacity utilization 65% (up from 54%) and ~250 million lb annual capacity; biofuels: revenue $52.9 million, production +21% YoY, gross profit $10.1 million, capacity utilization 56% and ~60 million gallons annual biodiesel capacity; cash flow/BS: operating cash flow $18.8 million in Q2, cash $34.3 million at June 30 (up from $22.4 million), $35 million revolver undrawn; capex $8.0 million in Q2 ($2.9M maintenance, $5.1M discretionary), YTD capex $13.4M (customer-funded ~$1.9M Q2, $3.5M YTD); hedging/derivatives impacted results (Q2 benefited ~$9.1M from selling inventory above hedge levels and $3.2M unrealized derivative gains, following a $9M hedging loss in Q1); and management highlighted a secured 4‑year monetization agreement for Section 45Z and small producer credits expected to generate ~$22 million gross in H2 (≈$3M in Q3 and $19M in Q4) and said they will track plant capacity utilization, plant uptime, safety performance and unit product cost to measure progress.Futurefuel Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
76
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 153.21M | 95.74M | 243.34M | 368.25M | 396.01M | 321.39M |
| Gross Profit | -5.90M | -40.69M | 19.64M | 40.98M | 28.99M | 23.54M |
| EBITDA | -22.69M | -39.42M | 25.64M | 47.87M | 24.32M | 26.51M |
| Net Income | -30.55M | -49.40M | 15.50M | 37.38M | 15.21M | 26.25M |
Balance Sheet | ||||||
| Total Assets | 215.04M | 192.24M | 247.69M | 367.08M | 355.97M | 344.33M |
| Cash, Cash Equivalents and Short-Term Investments | 34.37M | 51.32M | 109.54M | 219.44M | 212.77M | 184.71M |
| Total Debt | 0.00 | 0.00 | 0.00 | 389.00K | 630.00K | 644.00K |
| Total Liabilities | 61.96M | 37.53M | 41.87M | 57.20M | 72.97M | 55.40M |
| Stockholders Equity | 153.08M | 154.71M | 205.82M | 309.88M | 283.00M | 288.93M |
Cash Flow | ||||||
| Free Cash Flow | -50.93M | -45.98M | 10.13M | 15.28M | 47.76M | 42.63M |
| Operating Cash Flow | -29.78M | -28.73M | 24.80M | 21.30M | 52.54M | 44.08M |
| Investing Cash Flow | -22.67M | -18.60M | -14.79M | 33.02M | -3.83M | 14.99M |
| Financing Cash Flow | -8.34M | -10.89M | -119.91M | -10.52M | -10.50M | -119.68M |
Futurefuel Technical Analysis
Positive
4.65
Price Trends
4.84
Positive
4.56
Positive
4.05
Positive
Market Momentum
0.26
Negative
57.70
Neutral
21.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FF, the sentiment is Positive. The current price of 4.65 is below the 20-day moving average (MA) of 5.29, below the 50-day MA of 4.84, and above the 200-day MA of 4.05, indicating a bullish trend. The MACD of 0.26 indicates Negative momentum. The RSI at 57.70 is Neutral, neither overbought nor oversold. The STOCH value of 21.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FF.
Futurefuel Risk Analysis
Futurefuel disclosed 36 risk factors in its most recent earnings report. Futurefuel reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Futurefuel Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $243.88M | -7.94 | -19.75% | 4.09% | -7.63% | -15.10% | |
63 Neutral | $339.75M | 6.41 | 21.15% | ― | 1.09% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | $76.83M | -62.91 | -1.60% | 0.50% | 7.70% | -139.19% | |
50 Neutral | $67.95M | -21.71 | -8.12% | ― | -4.66% | -201.32% | |
47 Neutral | $380.75M | -1.71 | -51.42% | ― | 121.37% | -264.53% | |
45 Neutral | $149.39M | -2.27 | 19.17% | ― | 2.95% | 43.31% |
* Basic Materials Sector Average
FF
Futurefuel
5.56
1.86
50.15%
FSI
Flexible Solutions International
5.32
-3.18
-37.41%
GEVO
Gevo
1.54
-0.24
-13.48%
NTIC
Northern Technologies International
8.09
0.45
5.88%
ALTO
Alto Ingredients
4.38
3.34
321.15%
AMTX
Aemetis
2.07
-0.58
-21.89%
Futurefuel Corporate Events
Business Operations and StrategyFinancial Disclosures
FutureFuel to Announce Second-Quarter 2026 Results Soon
Neutral
Jul 28, 2026
FutureFuel Corp., a NYSE-listed manufacturer of custom and performance chemicals and biofuels, operates two main segments focused on specialty chemical products and biodiesel. Its portfolio includes proprietary agrochemicals, polymer modifiers and...
Dividends
FutureFuel Declares Modest Third Quarter 2026 Dividend
Positive
Jun 30, 2026
On June 30, 2026, FutureFuel Corp. declared a third quarter 2026 cash dividend of U.S. $0.01 per share, underscoring a continued, if modest, return of capital to shareholders despite a challenging environment for specialty chemicals and biofuels. ...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
FutureFuel Announces Board Member Retirement and Governance Changes
Neutral
Jun 26, 2026
FutureFuel announced on June 26, 2026, that board member Paul M. Manheim will not stand for re-election at the company’s 2026 annual meeting and will retire from the board effective at that time. Manheim, who has served on the board since 20...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.