Financial Performance - FutureFuel Corp. reported a net loss of $9.3 million or $0.21 per diluted share for Q3 2025, a significant decline from a net income of $1.2 million or $0.03 per diluted share in Q3 2024 [1][10] - Revenues for Q3 2025 were $22.7 million, down 56% from $51.1 million in Q3 2024 [10][41] - Adjusted EBITDA for Q3 2025 was ($6.8) million, compared to ($1.0) million in Q3 2024 [10][37] Strategic Initiatives - The company has achieved three consecutive quarters of reduced net losses, decreasing from $17.6 million in Q1 to $10.4 million in Q2, and further to $9.3 million in Q3 2025 [3] - FutureFuel is focusing on managing its cost structure amidst challenges in the biodiesel market while investing in plant reliability and other critical areas to drive market share and sustainable revenue growth [3][8] Market Conditions - The U.S. is experiencing a record soybean oil harvest, which may lead to decreased input costs for biodiesel production [4] - The company is gaining a clearer understanding of regulatory support under IRA 45Z for biodiesel, which is expected to positively impact operations [3] Chemical Segment Performance - The chemicals business has shown improvement in demand during Q3 2025, with several processes ramping up to full capacity [5] - FutureFuel has built a strong backlog of new projects in its chemicals business, expected to lead to increased production at its Batesville site in 2026 [6] Operational Changes - The company idled its biodiesel production line in July 2025 due to weak market conditions [16] - FutureFuel completed a major capital project that will enable backward integration into a key raw material, with production expected to come online in Q4 2025 [7] Financial Position - Cash and cash equivalents totaled $85.6 million as of September 30, 2025, down from $109.5 million at the end of 2024 [21] - Capital expenditures increased to $14.8 million in the first nine months of 2025, compared to $10.6 million in the same period in 2024, primarily due to the construction of a custom chemical plant [20]