Benzinga | Jan 24, 2022 08:40AM EST

Alto Ingredients Raises FY21 Gross Profit Guidance From $40M+ To Over $60M

Alto Ingredients, Inc. (NASDAQ:ALTO), a leading producer of specialty alcohols and essential ingredients, updated its full-year 2021 gross profit guidance.

The company now expects full-year 2021 gross profit to exceed $60 million. 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.

Michael Kandris, Alto Ingredients' president and CEO, stated, "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."

Management expects to report fourth quarter and year-end 2021 financial results in the first half of March 2022.