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FutureFuel Corp. (FF-0.81%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a decrease in revenue to $51,140,000 from $116,752,000 in the same quarter the previous year. The decrease is attributed to lower sales volumes and prices in the biofuel segment.
Gross profit for the quarter was $383,000, compared to $3,870,000 in the previous year, with the decline attributed to reduced throughput and lower sales prices.
Operating expenses decreased to $3,271,000 from $3,573,000, primarily due to lower administrative and research and development expenses.
Net loss for the quarter was $1,195,000, down from a net income of $2,776,000 in the previous year.
Cash provided by operating activities was $41,415,000, while cash used in investing and financing activities was $10,176,000 and $117,285,000, respectively.
FutureFuel had a working capital of $176,237,000 as of September 30, 2024.
The filing also details various financial agreements, including a credit agreement with a syndicated group of commercial banks for $100,000,000.
The company does not anticipate cash dividend payments to common stockholders in the near future.
The report highlights the impact of production issues and market conditions on the company's financial performance.
FutureFuel continues to focus on managing market risks and optimizing its operations across its chemical and biofuel segments.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the FutureFuel Corp. quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.