FutureFuel(FF)

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FutureFuel(FF) - 2025 Q2 - Quarterly Report
2025-08-11 20:09
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Delaware 20-3340900 (State or Other Jurisdiction of (IRS Employer Identification No.) Incorporation or Organization) 8235 Forsyth Blvd., Suite 900, St Louis, Missouri (Address of Principal Executive Offices) (Zip Code) (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SEC ...
FutureFuel(FF) - 2025 Q2 - Quarterly Results
2025-08-11 20:06
Second quarter 2025 Financial Highlights (all comparisons are with the second quarter of 2024) Exhibit 99.1 August 11, 2025 COMPANY CONTACT FutureFuel Corp. Roeland Polet (314) 854-8352 www.futurefuelcorporation.com FutureFuel Releases Second Quarter 2025 Results Reports Net Loss of $10.4 Million or $0.24 per Diluted Share, and Adjusted EBITDA of ($9.8) Million CLAYTON, Mo. (August 11, 2025) – FutureFuel Corp. (NYSE: FF) ("FutureFuel"), a manufacturer of custom and performance chemicals and biofuels, today ...
FutureFuel Releases Second Quarter 2025 Results
Globenewswire· 2025-08-11 20:05
Financial Performance - FutureFuel Corp. reported a net loss of $10.4 million, or $0.24 per diluted share, for the second quarter of 2025, compared to a net income of $9.6 million, or $0.22 per diluted share, in the same period of 2024 [10][28] - Revenues for the second quarter were $35.7 million, a decrease of 51% from $72.4 million year-over-year [10][12] - Adjusted EBITDA was ($9.8) million, down from $6.9 million in the prior year [10][31] Segment Performance - The BioDiesel segment faced significant challenges due to high input prices and uncertainty regarding support under the IRA 45Z, leading to a decision to temporarily idle the biodiesel plant in June 2025 [3][4] - The Chemicals segment experienced a slower start due to weaker market demand but has expanded its project pipeline with new opportunities expected to commercialize by the end of Q4 2025 and Q1 2026 [5][6] Capital Expenditures and Investments - Capital expenditures increased to $9.5 million in 2025 from $5.3 million in the same period in 2024, primarily due to the construction of a new custom chemical plant [16] - The company continues to invest in plant reliability and efficiency during the downturn in the BioDiesel market [7][8] Cash and Dividends - Cash and cash equivalents totaled $95.2 million as of June 30, 2025, down from $109.5 million at the end of 2024 [17][26] - FutureFuel paid a regular quarterly cash dividend of $0.06 per share in the second quarter of 2025, with additional dividends planned for September and December [9] Market Conditions and Future Outlook - The company anticipates that feedstock prices will normalize, allowing for the resumption of biodiesel production later in 2025 or early 2026 [4] - FutureFuel's management remains focused on maintaining cost control and leveraging its diversified chemical activities to support revenue during the BioDiesel downturn [8][18]
First Mining Announces Public Offering and Non-Brokered Private Placement for up to $20 Million
Globenewswire· 2025-07-14 20:09
Core Viewpoint - First Mining Gold Corp. has announced a public offering of up to 27,800,000 units at a price of $0.18 per unit, aiming for gross proceeds of up to $5,004,000, alongside a non-brokered private placement for additional funding [1][5]. Offering Details - The public offering will consist of units, each comprising one common share and one-half of a common share purchase warrant, with warrants priced at $0.27 per share, valid for 36 months [2][3]. - An over-allotment option allows agents to purchase an additional 15% of the units at the offering price, exercisable up to 48 hours before closing [4]. - The non-brokered private placement aims to raise up to $15,008,600 through 55,600,000 units and 22,730,000 flow-through units priced at $0.22 each [5][6]. Use of Proceeds - Proceeds from the offerings will be allocated to advancing the Springpole and Duparquet gold projects, as well as for general working capital [7]. - Funds from the flow-through units will be used for eligible Canadian exploration expenses related to the gold projects, with expenditures to be renounced by December 31, 2025 [7]. Timeline and Regulatory Approval - The public offering is expected to close around July 22, 2025, while the non-brokered offering is anticipated to close by August 5, 2025, pending Toronto Stock Exchange approval [8]. Company Overview - First Mining Gold Corp. is focused on developing two major gold projects in Canada: the Springpole Gold Project and the Duparquet Project, along with other gold project interests [12].
FutureFuel to Release Second Quarter 2025 Financial Results on August 11, 2025
Globenewswire· 2025-07-01 20:10
Company Overview - FutureFuel Corp. is a leading manufacturer of diversified chemical products, specialty chemical products, and biofuels [2] - The company produces custom chemicals for specific customers and performance chemicals for multiple customers [2] - FutureFuel's product portfolio includes proprietary intermediates, chlorinated polyolefin adhesion promoters, antioxidant precursors, polymer modifiers, and small-volume specialty chemicals [2] Financial Results Announcement - FutureFuel will release its second quarter 2025 financial results after market close on August 11, 2025 [1]
Balancing Decline And Potential: Why FutureFuel Remains A Hold
Seeking Alpha· 2025-06-25 04:12
Core Insights - FutureFuel Corp reported disappointing financial results for Q1 2025, showing a loss of $17.64 million compared to a profit of $4.33 million in Q1 2024 [1] Financial Performance - The company experienced a significant decline in profitability, moving from a profit of $4.33 million in Q1 2024 to a loss of $17.64 million in Q1 2025 [1]
FutureFuel Idles Biodiesel Production Amidst Regulatory Uncertainty, Shifts Full Focus to Specialty Chemicals Growth
Globenewswire· 2025-06-17 21:00
Core Viewpoint - FutureFuel Corp. has decided to temporarily idle its biodiesel production despite the U.S. EPA's proposed increase in biomass-based diesel mandates for 2026 and 2027, due to uncertainty regarding the Clean Fuel Producers Tax Credit [1][2][3]. Company Actions - The company will complete its remaining contractual obligations for biodiesel production by the end of June 2025 [1]. - FutureFuel plans to redirect certain production capacity from biodiesel to enhance its specialty chemicals business [4]. - The company anticipates new product capacity investments to come online in mid-2025 and is actively pursuing a pipeline of chemical projects for the latter half of 2025 and 2026 [4]. Industry Context - The EPA has proposed increasing biomass-based diesel mandates to 7.12 billion RINs for 2026 and 7.50 billion RINs for 2027, a significant increase from 3.35 billion gallons in 2025 and 5.36 billion gallons in 2026 [2]. - The uncertainty surrounding the Clean Fuel Producers Tax Credit has influenced FutureFuel's decision to pause biodiesel production [3]. Company Overview - FutureFuel is a manufacturer of custom and performance chemicals and biofuels, with a diverse product portfolio that includes specialty chemicals and biodiesel [5]. - The company's Batesville facility has flexible production capacity, allowing it to switch between specialty chemicals and biodiesel [3].
FutureFuel(FF) - 2025 Q1 - Quarterly Report
2025-05-12 20:16
PART I FINANCIAL INFORMATION [Item 1. Financial Statements](index=2&type=section&id=Item%201.%20Financial%20Statements.) Q1 2025 saw a significant downturn, with revenue at **$17.5 million** and a net loss of **$17.6 million** Consolidated Balance Sheet Summary (in thousands USD) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $97,071 | $109,541 | | Total current assets | $143,377 | $164,786 | | Total Assets | $227,669 | $247,691 | | Total current liabilities | $30,536 | $33,307 | | Total liabilities | $39,265 | $41,870 | | Total stockholders' equity | $188,404 | $205,821 | Consolidated Statement of Operations Summary (in thousands USD, except per share) | Account | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Revenue | $17,538 | $58,281 | | Gross (loss) profit | $(14,563) | $5,007 | | (Loss) income from operations | $(18,838) | $2,198 | | Net (loss) income | $(17,643) | $4,330 | | Basic (Loss) earnings per share | $(0.40) | $0.10 | | Diluted (Loss) earnings per share | $(0.40) | $0.10 | Consolidated Statement of Cash Flows Summary (in thousands USD) | Cash Flow Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(5,395) | $(12,211) | | Net cash used in investing activities | $(4,082) | $(3,485) | | Net cash used in financing activities | $(2,993) | $(2,626) | | Net change in cash and cash equivalents | $(12,470) | $(18,322) | - The Biodiesel Blenders' Tax Credit (BTC) expired on December 31, 2024, and no Clean Fuel Production Credit (CFPC) was recognized in Q1 2025 due to pending rules, creating market uncertainty[24](index=24&type=chunk)[26](index=26&type=chunk)[27](index=27&type=chunk) - Both Chemicals and Biofuels segments reported significant gross losses in Q1 2025, with the Chemicals segment posting a gross loss of **$5.7 million** and Biofuels a gross loss of **$8.8 million**[67](index=67&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=16&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management attributes significant revenue decline and net loss to operational disruptions and tax credit uncertainties, maintaining liquidity Financial Results Summary (in thousands USD) | Metric | Q1 2025 | Q1 2024 | Dollar Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Revenue | $17,538 | $58,281 | $(40,743) | (70)% | | (Loss) income from operations | $(18,838) | $2,198 | $(21,036) | na | | Net (loss) income | $(17,643) | $4,330 | $(21,973) | na | | Adjusted EBITDA | $(16,057) | $7,108 | $(23,165) | na | - The **$40.7 million revenue decrease** was primarily driven by lower sales volumes in the biofuel segment (**$29.9 million**) and chemical segment (**$7.9 million**) due to an extended plant turnaround prolonged by severe weather[83](index=83&type=chunk) - The renewable fuel market remains negatively impacted by the expiration of the BTC and uncertainty surrounding the new Clean Fuel Production Credit (CFPC)[83](index=83&type=chunk) - The company secured a five-year **$75 million** revolving credit facility on February 21, 2025, with no borrowings as of March 31, 2025[50](index=50&type=chunk)[53](index=53&type=chunk)[108](index=108&type=chunk) [Results of Operations](index=19&type=section&id=Results%20of%20Operations) Consolidated revenue fell **70% to $17.5 million**, resulting in a **$14.6 million gross loss** from reduced throughput Consolidated Results of Operations (in thousands USD) | | Q1 2025 | Q1 2024 | Change Amount | Change % | | :--- | :--- | :--- | :--- | :--- | | Revenues | $17,538 | $58,281 | $(40,743) | (70)% | | Gross (loss) profit | $(14,563) | $5,007 | $(19,570) | na | | Operating expenses | $(4,275) | $(2,809) | $(1,466) | (52)% | - The **$19.6 million gross profit decrease** was primarily due to reduced throughput from the plant turnaround, increased turnaround expenses, and a smaller LIFO inventory adjustment benefit[84](index=84&type=chunk) [Chemical Segment](index=20&type=section&id=Chemical%20Segment) Chemical segment revenue decreased **48.1% to $9.4 million**, resulting in a **$5.7 million gross loss** from reduced volume Chemical Segment Performance (in thousands USD) | | Q1 2025 | Q1 2024 | Change Amount | Change % | | :--- | :--- | :--- | :--- | :--- | | Revenues | $9,365 | $18,059 | $(8,694) | (48)% | | Gross (loss) profit | $(5,729) | $4,021 | $(9,750) | na | - Custom chemicals revenue fell by **$7.0 million to $8.4 million**, and performance chemicals revenue decreased by **$1.7 million to $1.0 million**, both due to lower sales volumes from the plant turnaround[90](index=90&type=chunk) [Biofuel Segment](index=21&type=section&id=Biofuel%20Segment) Biofuel segment revenue dropped **80% to $8.2 million**, resulting in an **$8.8 million gross loss** from reduced volumes and tax credit issues Biofuel Segment Performance (in thousands USD) | | Q1 2025 | Q1 2024 | Change Amount | Change % | | :--- | :--- | :--- | :--- | :--- | | Revenues | $8,173 | $40,222 | $(32,049) | (80)% | | Gross (loss) profit | $(8,834) | $986 | $(9,820) | na | - The **$9.8 million gross profit decrease** was mainly due to reduced sales volumes from the plant turnaround and a smaller LIFO inventory adjustment benefit[94](index=94&type=chunk) - Derivative instrument activity partially offset the gross loss, with a net loss of **$166 thousand** in Q1 2025 compared to a net loss of **$3.46 million** in Q1 2024[46](index=46&type=chunk)[94](index=94&type=chunk) [Liquidity and Capital Resources](index=23&type=section&id=Liquidity%20and%20Capital%20Resources) Cash decreased by **$12.5 million** to **$97.1 million** in Q1 2025, with **$5.4 million** used in operations, maintaining liquidity with existing cash and credit facility Cash Flow Summary (in thousands USD) | Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(5,395) | $(12,211) | | Net cash used in investing activities | $(4,082) | $(3,485) | | Net cash used in financing activities | $(2,993) | $(2,626) | - The company paid regular cash dividends of **$0.06 per share**, totaling **$2.6 million** in Q1 2025[110](index=110&type=chunk) - The company has an undrawn **$75 million** revolving credit facility available for working capital, capital expenditures, and general corporate purposes, terminating in February 2030[108](index=108&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=25&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk.) The company faces commodity price volatility, using non-hedge derivatives that may cause earnings volatility, with no interest rate risk - The company uses exchange-traded commodity futures and options to manage biofuel price risk, but these non-designated accounting hedges recognize gains and losses immediately, potentially causing earnings volatility[117](index=117&type=chunk) - The fair value of derivative instruments was a net liability of **$494 thousand** at March 31, 2025, compared to **$235 thousand** at December 31, 2024[118](index=118&type=chunk) - The company had no borrowings at March 31, 2025, and therefore was not exposed to interest rate risk[121](index=121&type=chunk) [Item 4. Controls and Procedures](index=26&type=section&id=Item%204.%20Controls%20and%20Procedures.) Management concluded disclosure controls were effective, with no material changes in internal control over financial reporting - The CEO and CFO concluded that disclosure controls and procedures were effective for accurate and timely information reporting[122](index=122&type=chunk) - No material changes in internal control over financial reporting occurred during the quarter[123](index=123&type=chunk) PART II OTHER INFORMATION [Item 1. Legal Proceedings](index=27&type=section&id=Item%201.%20Legal%20Proceedings.) The company is not a party to any material pending legal proceedings, anticipating no material adverse effects - The company is not involved in any material pending legal proceedings outside of ordinary routine litigation[126](index=126&type=chunk) [Item 1A. Risk Factors](index=27&type=section&id=Item%201A.%20Risk%20Factors.) No material changes to risk factors previously disclosed in the company's 2024 Annual Report on Form 10-K - No material changes to risk factors from the 2024 Form 10-K have been reported[127](index=127&type=chunk) [Item 5. Other Information](index=27&type=section&id=Item%205.%20Other%20Information.) No Section 16 officer or director adopted or terminated any Rule 10b5-1 or non-Rule 10b5-1 trading arrangements - No adoptions or terminations of Rule 10b5-1 trading plans by any Section 16 officer or director occurred during the quarter[132](index=132&type=chunk)
FutureFuel(FF) - 2025 Q1 - Quarterly Results
2025-05-12 20:15
[Management Commentary and Strategic Outlook](index=1&type=section&id=Management%20Commentary%20and%20Strategic%20Outlook) FutureFuel's Q1 2025 results show lower biofuel volumes and a net loss due to a strategic plant turnaround, while advancing new capacity and advocating for tax credits - Lower Q1 biofuel volumes resulted from a strategic plant turnaround in Batesville, Arkansas, from December through March, aimed at enhancing reliability, quality, and capacity[4](index=4&type=chunk) - The company leverages its **20 years of experience** to manage the cyclical biodiesel business, anticipating low-margin periods will eliminate less-efficient competitors and restore profitability[5](index=5&type=chunk) - FutureFuel actively advocates for clarity on the **Clean Fuel Producers Tax Credit (IRA 45Z)** and reinstatement of the **blenders' tax credit (BTC 40A)**[6](index=6&type=chunk) - A new backward-integrated capacity project is on track to launch in late summer 2025, expected to contribute revenue by the **end of Q3 2025**[7](index=7&type=chunk) - Pam Butcher was appointed to the Board of Directors to advance the company's growth strategy[8](index=8&type=chunk) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) FutureFuel's Q1 2025 saw **revenue decrease 70% to $17.5 million**, leading to a **$17.6 million net loss** and **negative $16.1 million Adjusted EBITDA** Q1 2025 Financial Highlights vs. Q1 2024 (Millions USD, except EPS) | Metric | Q1 2025 (Millions USD) | Q1 2024 (Millions USD) | Change (Millions USD) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Revenue | $17.5 | $58.3 | ($40.7) | (70)% | | Net (Loss) Income | ($17.6) | $4.3 | ($22.0) | na | | Diluted (Loss) EPS | ($0.40) | $0.10 | ($0.50) | na | | Adjusted EBITDA | ($16.1) | $7.1 | ($23.2) | na | [Detailed Financial Performance Analysis](index=3&type=section&id=Detailed%20Financial%20Performance%20Analysis) Q1 2025 revenue decreased **$40.7 million** due to lower sales volumes and prices, resulting in an **$18.8 million operating loss** and reduced cash - The **$40.7 million revenue decline** stemmed from lower sales volumes due to the extended plant turnaround, impacting the biofuel segment by **$29.9 million** and chemical segment by **$7.9 million**, further reduced by **$2.2 million** from lower biofuel prices[14](index=14&type=chunk) - Operating income decreased by **$21.0 million** compared to Q1 2024, primarily due to reduced throughput, increased plant turnaround expenses, and a lower LIFO inventory adjustment benefit (**$0.6 million** vs. **$3.0 million**)[15](index=15&type=chunk) Capital Expenditures and Cash Position (Millions USD) | Metric | Q1 2025 | Q1 2024 / YE 2024 | | :--- | :--- | :--- | | Capital Expenditures | $4.0 | $2.3 | | Cash and Cash Equivalents | $97.1 | $109.5 (at Dec 31, 2024) | [Segment Performance](index=9&type=section&id=Segment%20Performance) Both FutureFuel segments experienced significant Q1 2025 declines, with chemical revenue falling **48%** and biofuel revenue plummeting **80%**, both incurring gross losses Segment Revenue and Gross (Loss) Profit (Thousands USD) | Segment | Metric | Q1 2025 (Thousands USD) | Q1 2024 (Thousands USD) | | :--- | :--- | :--- | :--- | | **Chemicals** | Revenue | $9,365 | $18,059 | | | Gross (Loss) Profit | $(5,729) | $4,021 | | **Biofuel** | Revenue | $8,173 | $40,222 | | | Gross (Loss) Profit | $(8,834) | $986 | [Shareholder Returns](index=3&type=section&id=Shareholder%20Returns) FutureFuel maintained shareholder returns by paying a **$0.06 per share** quarterly cash dividend in Q1 2025, with continued payments planned - The company paid a regular quarterly cash dividend of **$0.06 per share** in Q1 2025[11](index=11&type=chunk) - Quarterly dividends of **$0.06 per share** are scheduled for June, September, and December 2025[11](index=11&type=chunk) [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) Q1 2025 consolidated financial statements show a **$17.6 million net loss**, **$227.7 million** in total assets, and **$12.5 million** net cash usage [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2025 revenues decreased **70% to $17.5 million**, resulting in a **$14.6 million gross loss**, **$18.8 million operating loss**, and a **$17.6 million net loss** Q1 2025 Statement of Operations (Thousands USD, except per share amounts) | Line Item | Q1 2025 (Thousands USD) | Q1 2024 (Thousands USD) | | :--- | :--- | :--- | | Revenue | $17,538 | $58,281 | | Gross (Loss) Profit | $(14,563) | $5,007 | | (Loss) Income from Operations | $(18,838) | $2,198 | | Net (Loss) Income | $(17,643) | $4,330 | | Diluted (Loss) EPS | $(0.40) | $0.10 | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2025, FutureFuel's total assets decreased to **$227.7 million**, primarily from reduced cash to **$97.1 million**, with liabilities at **$39.3 million** and equity at **$188.4 million** Balance Sheet Summary (Thousands USD) | Account | March 31, 2025 (Thousands USD) | Dec 31, 2024 (Thousands USD) | | :--- | :--- | :--- | | Cash and cash equivalents | $97,071 | $109,541 | | Total current assets | $143,377 | $164,786 | | Total Assets | $227,669 | $247,691 | | Total current liabilities | $30,536 | $33,307 | | Total Liabilities | $39,265 | $41,870 | | Total Stockholders' Equity | $188,404 | $205,821 | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Q1 2025 saw **$5.4 million** net cash used in operations, **$4.1 million** in investing, and **$3.0 million** in financing, resulting in a **$12.5 million** decrease in cash Cash Flow Summary (Thousands USD) | Cash Flow Activity | Q1 2025 (Thousands USD) | Q1 2024 (Thousands USD) | | :--- | :--- | :--- | | Net cash used in operating activities | $(5,395) | $(12,211) | | Net cash used in investing activities | $(4,082) | $(3,485) | | Net cash used in financing activities | $(2,993) | $(2,626) | | **Net change in cash** | **$(12,470)** | **$(18,322)** | | **Cash at end of period** | **$97,071** | **$201,122** | [Reconciliation of Non-GAAP Financial Measures](index=4&type=section&id=Reconciliation%20of%20Non-GAAP%20Financial%20Measures) FutureFuel reconciles non-GAAP Adjusted EBITDA to GAAP, reporting Q1 2025 **Adjusted EBITDA of ($16.1) million** by adjusting the **$17.6 million net loss** for non-cash and non-operating items - Adjusted EBITDA is defined as net income before interest, taxes, depreciation, and amortization, with further adjustments for non-cash or non-operating items[21](index=21&type=chunk) Reconciliation of Adjusted EBITDA to Net Income (Thousands USD) | Line Item | Q1 2025 (Thousands USD) | Q1 2024 (Thousands USD) | | :--- | :--- | :--- | | Net (loss) income | $(17,643) | $4,330 | | Depreciation | $2,328 | $2,615 | | Interest and dividend income | $(1,237) | $(2,800) | | Other adjustments | $509 | $2,963 | | **Adjusted EBITDA** | **$(16,057)** | **$7,108** | Reconciliation of Adjusted EBITDA to Net Cash from Operations (Thousands USD) | Line Item | Q1 2025 (Thousands USD) | Q1 2024 (Thousands USD) | | :--- | :--- | :--- | | Net cash used in operating activities | $(5,395) | $(12,211) | | Adjustments | $(10,662) | $19,319 | | **Adjusted EBITDA** | **$(16,057)** | **$7,108** |
FutureFuel Releases First Quarter 2025 Results
Globenewswire· 2025-05-12 20:10
Financial Performance - FutureFuel Corp. reported a net loss of $17.6 million, or $0.40 per diluted share, for Q1 2025, a significant decline from a net income of $4.3 million, or $0.10 per diluted share, in Q1 2024 [8][11][25] - Revenues decreased by 70% to $17.5 million, down from $58.3 million in the same quarter of the previous year, primarily due to lower biofuel volumes and reduced prices [8][11][32] - Adjusted EBITDA was ($16.1) million, a decrease from $7.1 million in Q1 2024 [8][11][29] Operational Highlights - The decline in biofuel volumes was attributed to a strategic turnaround of the main production facilities in Batesville, Arkansas, which was advanced to address anticipated weakness in biodiesel margins [2][11] - The turnaround aimed to enhance plant reliability and quality capabilities, with chemical operations resuming in mid-March and biodiesel production restarting at the end of March [2][5] - FutureFuel has been producing renewable fuels since 2005, leveraging its experience to navigate the cyclicality of the biodiesel business [3] Industry Engagement - FutureFuel is actively engaging with biodiesel industry groups to advocate for clarity regarding the Clean Fuel Producers Tax Credit and the reinstatement of the Blenders Tax Credit [4][5] - The company maintains a structural advantage over peers due to its ability to process a wide range of feedstocks, which helps sustain operations during challenging market conditions [5] Capital Expenditures and Future Plans - Capital expenditures increased to $4.0 million in Q1 2025 from $2.3 million in the same period in 2024, primarily for the construction of a custom chemical plant expected to be completed mid-year [13] - FutureFuel's new backward-integrated capacity project is on track to come online in late summer 2025, with anticipated revenue contributions by the end of Q3 2025 [5] Board and Leadership Changes - Pam Butcher has joined the FutureFuel Board of Directors, bringing extensive leadership experience in the chemical industry to support the company's growth strategy [6]