Vertex Energy Reports Loss

Vertex Energy, a specialty refiner, saw a significant drop in shares before the market opened as it reported a loss in the last quarter of the previous year.

Stock Performance

• The stock was down 17% in premarket trading.
• It closed the previous session at $1.68, marking a 50% drop since the start of the new year.

Financial Results

• The net loss reported by Vertex was $63.9 million, or 84 cents a share, in contrast to the net income of $44.4 million, or 7 cents in the same period last year.
• On an adjusted basis, the company experienced a loss before interest, taxes, depreciation, and amortization of $35.1 million for the fourth quarter compared to adjusted Ebitda of $75.2 million in the prior-year period.

Refinery Operations

• Total conventional throughput at the Mobile refinery was 67,083 barrels a day during the quarter.
• Operations generated a gross profit of $7.3 million, a significant decrease from $89.9 million in the corresponding period the year before.
• Total renewable throughput at the Mobile renewable diesel facility stood at 3,926 barrels daily, resulting in a gross loss of $17.6 million.