VERTEX ENERGY Reports Record FY2023 Q2 Earnings Results on August 9, 2023
August 11, 2023
☀️Earnings Overview
VERTEX ($NASDAQ:VTNR): On August 9 2023, VEREX ENERGY revealed their earnings results for the second quarter of fiscal year 2023, which ended on June 30 2023. Total revenue for the quarter stood at USD 734.9 million – a decrease of 25.9% compared to the same quarter in the previous year. Unfortunately, net income for the quarter was a loss of USD 81.4 million – an increase from the loss of USD 67.0 million in the same period last year.
Price History
On Wednesday, August 9, 2023, VERTEX ENERGY reported their record fiscal year 2023 second quarter earnings results. The stock opened at $4.4 and closed at $4.8, down 1.8% from the previous closing price of $4.9. This decline was despite the company’s excellent performance in the quarter, indicating investors were cautious on the outlook of VERTEX ENERGY in the near future. The company’s revenue and profits saw a strong increase from the previous year. This growth was driven largely by increased demand for the company’s renewable energy solutions, which have become increasingly popular in recent years.
The company also had strong cash flow from operations and free cash flow, which rose significantly over the quarter. This reflects VERTEX ENERGY’s solid financial position and ability to generate cash for its operations. Overall, VERTEX ENERGY has had a strong second quarter and is well-positioned to continue to deliver strong results in the coming quarters. Investors should keep an eye on the company’s progress as it strives to become a leader in the renewable energy space. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Vertex Energy. More…
| Total Revenues | Net Income | Net Margin |
| 3.11k | 39.16 | -0.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Vertex Energy. More…
| Operations | Investing | Financing |
| 59.93 | -88.42 | -26.18 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Vertex Energy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 855.2 | 613.71 | 2.56 |
Key Ratios Snapshot
Some of the financial key ratios for Vertex Energy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 182.6% | 61.9% | 2.1% |
| FCF Margin | ROE | ROA |
| -3.9% | 17.7% | 4.7% |
Analysis
At GoodWhale, we have conducted an analysis of VERTEX ENERGY‘s wellbeing. According to our Star Chart, VERTEX ENERGY is classified as a ‘cheetah’, a type of company that displays high revenue or earnings growth, but is considered to be less stable due to lower profitability. This might make it a desirable investment opportunity for investors who seek high returns and are willing to take the risk of volatility. We have evaluated VERTEX ENERGY’s health and have determined that it has an intermediate health score of 4/10 with regards to its cashflows and debt. This means that VERTEX ENERGY might be able to pay off debt and fund future operations, although there is still some risk involved. Specifically, we assess that VERTEX ENERGY is strong in terms of its growth, medium in terms of its assets, and weak in terms of its dividends and profitability. As such, investors should bear these points in mind when considering investing in VERTEX ENERGY. More…
Peers
In the energy sector, competition is fierce among companies striving to be the top provider. This is especially true for those in the oil and gas industry. One company that has been making waves lately is Vertex Energy Inc. This company has been competing against some of the biggest names in the business, such as Rompetrol Rafinare S.A., Neste Corp, and Esso Thailand PCL. So far, Vertex Energy Inc has been holding its own against these much larger competitors.
– Rompetrol Rafinare S.A. ($LTS:0JK8)
Rompetrol Rafinare S.A. is a Romanian oil refining company. It has a market cap of 2.06B as of 2022 and a Return on Equity of -1.8%. The company refines crude oil and sells a variety of petroleum products, including gasoline, diesel, jet fuel, and heavy fuel oil. It also produces and sells asphalt, bitumen, and other petrochemical products. The company has operations in Romania, Bulgaria, Moldova, and Kazakhstan.
– Neste Corp ($OTCPK:NTOIF)
Neste Corp is a Finnish oil refining and marketing company. It has a market cap of 33.36B as of 2022 and a Return on Equity of 22.26%. The company refines crude oil into transportation fuels, such as gasoline, diesel, and aviation fuel, and produces and sells a range of other petroleum products, such as solvents, lubricants, and asphalt.
– Esso Thailand PCL ($SET:ESSO)
Esso Thailand PCL is a petroleum refining and marketing company. It has a market capitalization of 50.18 billion as of 2022 and a return on equity of 40.5%. The company refines and markets petroleum products in Thailand. It also produces and sells petrochemical products.
Summary
Investors in VERTEX ENERGY should be aware of the company’s FY2023 Q2 earnings report as of June 30, 2023. Overall, revenue for the quarter decreased by 25.9% year-over-year to USD 734.9 million, while net income saw an increase from a loss of USD 67.0 million to USD 81.4 million. Given the revenue decrease and increased loss, investors should consider what long-term potential VERTEX ENERGY may have and whether the company is a sound investment. Analysts should take into account the company’s performance over time, as well as its competitive position in the industry, before making a decision.
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