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FutureFuel Corp. (FF-2.65%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a decrease in revenue to $243.3 million from $368.3 million in 2023, attributed to lower sales volumes and prices in the biofuel segment.
Net income for 2024 was $15.5 million, down from $37.4 million in 2023. The decrease is largely due to reduced sales and gross profit in both the biofuel and chemical segments.
The company's biofuel segment saw a 43% decrease in revenue, primarily due to a 21% reduction in sales volume and a 23% reduction in average sales price.
The chemical segment's revenue increased slightly to $80 million, with gross profit decreasing by 24% due to reduced sales prices and volumes.
Operating expenses remained relatively stable at $13.3 million, with a slight decrease from 2023.
FutureFuel's cash flow from operating activities increased to $24.8 million, while cash used in investing activities was $14.8 million, primarily due to increased capital expenditures.
The company paid a special cash dividend of $2.50 per share in 2024, contributing to a total cash dividend payment of $119.9 million for the year.
FutureFuel's credit facility was amended and restated in February 2025, reducing the credit limit to $75 million.
The filing outlines the company's continued focus on expanding its chemical and biofuel segments, with an emphasis on operational efficiency and cost control.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the FutureFuel Corp. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.