March 14, 2024 (Globalinvestorideas.com Newswire) FutureFuel Corp. (NYSE: FF) , a manufacturer of custom and performance chemicals and biofuels, made the NYSE top ten gainers list today, trading at $6.97, up $1.28 for a win of 22.50%. The stock had a day’s high of $7.47.
The Company announced financial results for the fourth quarter and year ended December 31, 2023.
Fourth quarter 2023 Financial Highlights (all comparisons are with the fourth quarter of 2022)
Revenues were $92.0 million, compared to $117.8 million.
Net income increased to $23.4 million, or $0.53 per diluted share, from $14.9 million, or $0.34 per diluted share.
Adjusted EBITDA(1) was $16.8 million, down from $17.1 million.
2023 Financial Highlights (all comparisons are with the year ended December 31, 2022)
Revenues were $368.3 million, compared to $396.0 million.
Net income increased to $37.4 million, or $0.85 per diluted share, from $15.2 million, or $0.35 per diluted share.
Adjusted EBITDA(1) was $35.0 million, up from $27.8 million.
(1) A non-GAAP financial measure. See “Non-GAAP Financial Measures” for a description of the measure and a reconciliation to the applicable GAAP measure.
“I am pleased to report net income for the year of $37.4 million and delighted to report the issuance of a special cash dividend of $2.50 per share as part of our plan to return value to our stockholders. In addition to this, our Board of Directors has also authorized a Share Repurchase program of up to $25 million over the next 24 months.
In 2023, we achieved a record production volume of Biodiesel. This was thanks to our focus on operational excellence and reliability, as well as the successful execution of our risk management strategy. In our Chemicals segment, we are focused on the growth of new products and providing first class service to our existing customers. Even against a backdrop of dampening demand in certain mature segments, we were successful in bringing new products to our chemical business, either as trials or straight to commercial production.
As we look forward to 2024, we will continue our pursuit of new chemicals business adopting a broad multi-market strategy, as well as ensuring our biodiesel business maintains its strong history of production and margin capture,” said Tom McKinlay, Chief Executive Officer for FutureFuel Corp.
2024 Regular Cash Dividends
For 2024, FutureFuel declared a regular quarterly cash dividend in the amount of $0.06 per share on our common stock in the fourth quarter of 2023. In addition, on March 12, 2024, FutureFuel declared a special cash dividend of $2.50 per share on common stock payable on April 9, 2024, to holders of record as of the close of business on March 26, 2024.
Read the company’s full news and disclaimer here:
https://finance.yahoo.com/news/futurefuel-releases-2023-results-160100920.html
Research more green/renewable energy stocks with Investorideas.com stock directory
https://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp
About Investorideas.com – Big Investing Ideas
Investorideas.com is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts such as Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create free investor stock directories for sectors including mining, crypto, renewable energy, gaming, biotech, tech, sports and more. Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors. Paid content is always disclosed.
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: More disclaimer and disclosure info https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Follow us on Twitter @investorideas and @stocknewsbites
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Sign up for free stock news alerts at Investorideas.com
https://www.investorideas.com/Resources/Newsletter.asp
Contact Investorideas.com
800 665 0411