Alto Ingredients (FPR) Q3 2026 Earnings Report
CH:FPR Q3 2026 EPS Results
- Actual EPS
- CHF 0.13
- Consensus EPS
- CHF 0.08
- Beat/Miss
- Beat by +CHF 0.05
- One Year Ago EPS
- CHF 0.15
CH:FPR Q3 2026 Revenue Results
- Actual Revenue
- CHF 209.99M
- Expected Revenue
- CHF 204.35M
- Beat/Miss
- Beat by +CHF 5.63M
- YoY Revenue Growth
- +7.01%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/04/2026
- Time
- After Close
- Conference Call
- Wednesday, November 4, 2026
Alto Ingredients's next earnings date is estimated for March 10, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was strongly constructive, with recurring positive profitability, robust adjusted EBITDA, improved year-to-date crush margins, substantial 45Z tax credit earnings, capacity and infrastructure progress, positive operating cash flow, and significant debt reduction. The main challenges were a year-over-year decline in gross profit and crush margins, higher SG&A, lower specialty alcohol volumes, and reduced renewable fuel export volume, but management emphasized favorable domestic economics, potential E15 demand growth, further 45Z upside, and continued balance-sheet strengthening.
Alto expects to increase Pekin annual production capacity by approximately 8% or 5 million gallons, exiting the year at a new targeted annual run rate of approximately 65 million gallons; qualify 90 million gallons or more of combined production for 45Z tax credits in 2026 and generate a minimum of $20 million in net tax credit earnings, with Columbia qualifying for $0.30 per gallon and Pekin dry mill for $0.20 per gallon on a gross credit basis, and fully monetize those credits in the first half of 2027. The company remains on track to spend $25 million on CapEx this year, with Q4 including Pekin dock repairs, the addition of a second alcohol load-out dock, and the third CO2 storage tank at Columbia; it expects earning contributions from its first farmer agreement to be modest in 2026 but to build in 2027, and expects more compelling economics for resuming renewable fuel exports to Europe in 2027. California E15 adoption could add an estimated 600 million gallons or more of annual ethanol demand.
- Fourth Consecutive Quarter of Positive ProfitabilityAlto reported positive gross profit, income from operations, net income, and adjusted EBITDA for the third quarter, marking another consecutive quarter of positive results. Management attributed the performance to the strength of core operations, with 45Z tax credit earnings adding to the foundation.
- Improved Year-to-Date Crush MarginsIndustry crush margins were $0.30 per gallon in the third quarter and $0.32 per gallon in October. Year-to-date crush margins were $0.27 per gallon, an improvement of $0.08 per gallon, or 42% higher than the same period last year.
- Strong Renewable Fuel Pricing and Net SalesConsolidated net sales were $258 million on sales of 89 million gallons, with volume flat year-over-year. The average price per gallon was $2.23, which was $0.14 higher than last year, supported by strong domestic blending demand, global exports, and higher corn prices.
- Essential Ingredients GrowthEssential ingredient sales totaled $58.8 million, up $5.5 million from the third quarter of 2025. Improved sales prices and slightly higher volumes contributed to the increase, while stronger demand for corn oil as a renewable diesel and biodiesel feedstock supported higher corn oil and germ prices. Essential ingredients return improved to 53.5% from 52.5%.
- Meaningful 45Z Tax Credit EarningsAlto recognized $7.6 million of 2026 vintage 45Z tax credit earnings in the quarter, bringing the year-to-date 2026 vintage total to $15.8 million net of estimated transaction costs. The company expects to generate a minimum of $20 million in net tax credit earnings for full-year 2026 and fully monetize the credits in the first half of 2027.
- Higher Expected 45Z Credit RatesAs a result of efforts to lower carbon intensity scores, Columbia is now projected to qualify for $0.30 per gallon of gross 45Z credits, up from the prior $0.20 per gallon calculation. Pekin is still targeting $0.20 per gallon. The low-carbon-intensity corn program is expected to be incremental to the credits currently being captured.
- Pekin Capacity Expansion on TrackThe Pekin dry mill debottlenecking project is performing in line with plan following its restart. The project is expected to increase annual production capacity by approximately 8%, or 5 million gallons, with an exit-year targeted annual run rate of approximately 65 million gallons.
- Progress on Logistics and CO2 InfrastructureThe first phase of the Pekin barge dock project, adding new liquid load-out, is complete and operational. The second phase, involving improvements to the existing dock, is expected to be completed by year-end. Alto also expects to complete installation of its third CO2 storage tank at Columbia before year-end to provide additional capacity to capture existing production and serve growing liquid CO2 demand in the Pacific Northwest.
- Low-Carbon Corn Farmer PartnershipAlto signed its first multi-year agreement with a local farmer cooperative to supply a meaningful portion of Pekin's low-carbon-intensity corn needs and share the resulting 45Z benefit with cooperative members. The agreement is for up to 20 million bushels over three years. Contributions are expected to be modest in 2026 and build in 2027 as participating farmers adopt additional climate-smart practices.
- Additional Carbon-Reduction InitiativesAlto is completing phase one of an energy-reduction project at Columbia to further lower its carbon score and support 45Z earnings initiatives. The company is also pursuing additional farmer agreements and exploring ways to lower its carbon footprint by qualifying more gallons.
- Positive Operating Cash Flow and Debt ReductionAlto generated $13 million of positive cash flow from operations in the third quarter, supporting a $6.5 million paydown on its line of credit and $4 million of additional capital expenditures. Year-to-date, total debt was reduced by $26.5 million, while total debt was reduced by $30 million over the last 12 months.
- Lower Debt Servicing Costs and Strong LiquidityThe $30 million reduction in term debt over the last 12 months is expected to lower annual debt servicing costs by approximately $4.3 million. At quarter-end, cash was $24 million and total borrowing availability was $108 million.
- Capital Investment Plan Remains on TrackAlto spent approximately $16 million to $17 million in capital expenditures through the third quarter and remains on track to spend $25 million for the full year. Fourth-quarter projects include Pekin dock repairs, a second alcohol load-out dock, and the third CO2 storage tank at Columbia.
- Lower Interest Expense and No Current Tax ProvisionQuarterly interest expense was $1.5 million, down $1.3 million due to lower outstanding debt balances. The tax provision remained at zero because the company expects to use a portion of its net operating losses to offset taxable income this year.
- Robust Adjusted EBITDAAdjusted EBITDA was $21 million for the third quarter.
- Potential E15 Demand ExpansionCalifornia enacted legislation clearing the way for E15 sales, and management believes E15 could add an estimated 600 million gallons or more of annual ethanol demand as adoption ramps up. Together with year-round E15 in several Midwestern states, management said this could support a more favorable margin environment and improved industry utilization.
- ATM Facility Not UsedAlto has not used its at-the-market offering. Management said issuing shares was not necessary or in the best interest of shareholders given the company's current liquidity position and market fundamentals, while retaining the ATM as a flexible capital markets tool.
- CO2 Monetization OpportunitiesManagement is working with existing agricultural relationships on CO2 utilization and sequestration opportunities while seeking to minimize new capital expenditures. The company said it currently vents a significant amount of CO2 and is evaluating ways to convert that otherwise vented CO2 into a revenue stream in a capitally efficient manner.
CH:FPR Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 10, 2027 | 2026 (Q4) | 0.09- | 0.23 | ― | ― |
| Nov 04, 2026 | 2026 (Q3) | 0.080.13 | 0.15 | -15.79% (-0.02) | |
| Aug 05, 2026 | 2026 (Q2) | 0.070.12 | -0.12 | 200.00% (+0.24) | |
| May 06, 2026 | 2026 (Q1) | -0.020.04 | -0.13 | 131.25% (+0.17) | |
| Mar 04, 2026 | 2025 (Q4) | -0.020.23 | -0.46 | 149.12% (+0.69) | |
| Nov 05, 2025 | 2025 (Q3) | -0.040.15 | -0.03 | 575.00% (+0.19) | |
| Aug 06, 2025 | 2025 (Q2) | -0.09-0.12 | -0.04 | -200.00% (-0.08) | |
| May 07, 2025 | 2025 (Q1) | -0.16-0.13 | -0.14 | 5.88% (+0.01) | |
| Mar 05, 2025 | 2024 (Q4) | -0.09-0.46 | -0.21 | -119.23% (-0.25) | |
| Nov 06, 2024 | 2024 (Q3) | 0.03-0.03 | -0.04 | 20.00% (+0.01) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
