Vertex Energy Provided An Update To Its Financial And Operational Outlook For The Fourth Quarter Of 2023
Portfolio Pulse from Benzinga Newsdesk
Vertex Energy updated its Q4 2023 outlook, with conventional throughput volumes at 67,000 bpd, slightly below the forecasted 68,000-71,000 bpd. Renewable throughput volumes are expected at 3,900 bpd, at the lower end of the 4,000-6,000 bpd range, and renewable production yield is projected at 96%, slightly below the 97%-98% forecast. The company also reported a 40% decline in average Q4 crack spreads on finished refined products compared to Q3.
January 23, 2024 | 11:33 am
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Vertex Energy's Q4 update indicates lower than expected conventional and renewable throughput volumes and a significant decline in crack spreads, which may negatively impact revenue and margins.
The reported decrease in throughput volumes and crack spreads suggests potential revenue and profitability challenges for Vertex Energy. Investors may react negatively to the news of not meeting the higher end of throughput forecasts and the substantial decline in crack spreads, which are critical for refining margins.
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