FutureFuel Corp Releases Q2 2024 Earnings Results
Intellectia.AI1970-01-01
FutureFuel Corp. Releases Q2 2024 Earnings Results
FutureFuel Corp. (NASDAQ: FF) has released its financial results for the quarter ending June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q2 2023 | Year-over-Year Change |
|---|---|---|---|
| Total Revenue | $14,976,000 | $27,875,000 | -46% |
| Earnings per Share (EPS) | $0.0001 | $0.0001 | 0% |
Interpretation: FutureFuel's total revenue saw a significant year-over-year decline of 46%, reflecting lower sales volumes and prices in the biofuels segment mainly due to extreme winter weather and a decrease in RIN prices. However, the EPS remained constant compared to Q2 2023.
Segment Revenue Breakdown
| Segment | Q2 2024 Revenue | Q2 2023 Revenue | Year-over-Year Change | Notes |
|---|---|---|---|---|
| Chemicals | $19,236,000 | $18,756,000 | +2.6% | Increased volumes in the agricultural market |
| Biofuels | $14,976,000 | $28,355,000 | -47% | Reduced sales volumes and prices due to RIN price drop |
Interpretation: The Chemicals segment saw modest growth due to stronger sales volumes in markets such as agriculture, offsetting reduced prices in some areas. The Biofuels segment experienced a steep decline due to lower sales volumes and lower RIN prices driving down overall revenue.
Operational Data
| Operational Data | Q2 2024 |
|---|---|
| RINs Held | 2.1 million |
| RIN Market Value | $1,055,000 |
| Legal Settlement | $2,750,000 |
Interpretation: FutureFuel held 2.1 million RINs with a market value of $1.055 million. A legal settlement provided an additional $2.75 million in other income for the quarter.
Dividends and Share Repurchase Programs
FutureFuel paid a special dividend of $2.50 per share, amounting to $109.408 million, in addition to regular quarterly dividends of $0.06 per share.
Stock Price Movement
Following the earnings release, the stock price experienced a slight decline of approximately 0.11%.
This concise earnings summary report captures the primary financial and operational insights from FutureFuel Corp.'s Q2 2024 earnings release, emphasizing key data points and trends.
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