Vertex Energy Misses Q2 EPS Estimate On Lower Mobile Refinery Margins
Portfolio Pulse from Lekha Gupta
Vertex Energy Inc (NASDAQ:VTNR) reported Q2 FY23 revenue of $734.89 million, beating the consensus of $707.74 million. However, the company missed the EPS estimate due to lower Mobile Refinery margins. The company's Q2 EPS loss was $(1.07), missing the consensus of $(0.28). The Mobile Refinery operations generated a fuel gross margin of $52.7 million, a decline from $103.8 million a year ago. VTNR shares are trading lower by 7.2% at $4.57.
August 09, 2023 | 1:36 pm
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Vertex Energy missed Q2 EPS estimates due to lower Mobile Refinery margins, leading to a 7.2% drop in its share price.
Vertex Energy's lower than expected earnings per share (EPS) is a negative signal to investors, indicating that the company's profitability is not as high as expected. This is likely to have a negative impact on the company's stock price in the short term. The lower Mobile Refinery margins, which contributed to the EPS miss, suggest that the company's operations are not as efficient as they could be, which could also negatively impact investor sentiment.
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