FutureFuel Releases First Quarter 2025 Results

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]