Revenue added 27%, Gross Accumulation jumped 86%
Gross Accumulation Allowance was 22%, Net Assets Balance Per Allotment of $0.03
Conference alarm to be captivated today at 9:00 A.M. EDT
HOUSTON, Aug. 09, 2018 (GLOBE NEWSWIRE) — Vertex Energy, Inc. (VTNR), a specialty refiner of another feedstocks and banker of high-purity petroleum products, appear today its banking after-effects for the added division and six months concluded June 30, 2018.
FINANCIAL HIGHLIGHTS FOR SECOND QUARTER OF 2018
FINANCIAL HIGHLIGHTS FOR FIRST SIX MONTHS OF 2018
Benjamin P. Cowart, Chairman and CEO of Vertex Energy, Inc., stated, “We are admiring with our added division banking results, as our basic investments abide to crop absolute results. Our spreads at both the Marrero and Heartland accessories were strong, while there was aerial appeal for both abject oil and fuels. Our gross allowance and net assets additionally showed advance year-over-year.”
Mr. Cowart added, “We are encouraged by our business operations and banking achievement in the added quarter. Based on these results, we accept that drive can backpack over into the added bisected of 2018. We abide to see college assembly volumes and bigger sales for our articles at both of our facilities. Also, our calm volume, which represents the volumes we aggregate with our own accessories and provides a cogent allowance contribution, rose 22% year-over-year and puts us on ambition to aggregate 30 actor gallons at the end of 2018. We calm 26 actor gallons of acclimated motor oil in 2017. We abide committed to our basic adjourned action timeline.”
SECOND QUARTER 2018 FINANCIAL RESULTS CONFERENCE CALL DETAILS
Management will host a appointment alarm today at 9 A.M. EDT. Those who ambition to participate in the appointment alarm may blast 1-877-869-3847 from the U.S. and All-embracing callers may blast 1-201-689-8261, about 15 account afore the call. A webcast will additionally be accessible beneath the Broker Relations area at www.vertexenergy.com.
A agenda epitomize will be accessible by blast about two hours afterwards the achievement of the alarm until November 15, 2018, and may be accessed by dialing 1-877-660-6853 from the U.S. or 1-201-612-7415 for all-embracing callers application appointment ID #13681767.
ABOUT VERTEX ENERGY, INC.
Vertex Energy, Inc. (NASDAQ: VTNR) is a specialty refiner of another feedstocks and banker of high-purity petroleum products. With its address in Houston, Texas, Vertex is one of the better processors of acclimated motor oil in the U.S. and has processing accommodation of over 115 actor gallons annually with operations amid in Houston and Port Arthur (TX), Marrero (LA), and Columbus (OH). Vertex additionally has a facility, Myrtle Grove, amid on a 41 acre automated circuitous forth the Gulf Coast in Belle Chasse, LA, with absolute hydroprocessing and bulb basement assets, that includes nine actor gallons of storage. Vertex has implemented a cost-effective action for architecture its feedstock accumulation by establishing a acknowledged self-collection and accession system. The Company has congenital a acceptability as a key supplier of Group II and Group III abject oils to the adipose accomplishment industry in North America. For added advice on Vertex Energy amuse acquaintance Porter, LeVay & Rose, Inc.’s broker relations adumbrative Marlon Nurse, D.M. at 212-564-4700 or appointment our website at www.vertexenergy.com.
Investor Relations Contact: Marlon Nurse, D.M.Senior Vice President 212-564-4700
This columnist absolution may accommodate advanced statements, including advice about management’s appearance of Vertex Energy’s approaching expectations, affairs and prospects, aural the safe anchorage accoutrement beneath The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, back acclimated in the above-mentioned discussion, the words “believes,” “hopes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and agnate codicillary expressions are advised to analyze advanced statements aural the acceptation of the Act, and are accountable to the safe anchorage created by the Act. Any statements fabricated in this account absolution added than those of actual fact, about an action, accident or development, are advanced statements. These statements absorb accepted and alien risks, uncertainties and added factors, which may account the after-effects of Vertex Energy, its capacity and concepts to be materially altered than those bidding or adumbrated in such statements. These accident factors and others are included from time to time in abstracts Vertex Energy files with the Securities and Exchange Commission, including but not bound to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Added alien or capricious factors additionally could accept actual adverse furnishings on Vertex Energy’s approaching results. The advanced statements included in this columnist absolution are fabricated alone as of the date hereof. Vertex Energy cannot agreement approaching results, levels of activity, achievement or achievements. Accordingly, you should not abode disproportionate assurance on these advanced statements. Finally, Vertex Energy undertakes no obligation to amend these statements afterwards the date of this release, except as appropriate by law, and additionally takes no obligation to amend or actual advice able by third parties that are not paid for by Vertex Energy.
Vertex Energy, Inc.Reconciliation of Net Assets (Loss) attributable to Vertex Energy, Inc., to Balance afore Interest, Taxes, Abrasion and Acquittal (EBITDA) and Adapted EBITDA*
* EBITDA and adapted EBITDA are non-GAAP banking measures. These abstracts are not accustomed in accordance with GAAP and should not be beheld as an another to GAAP measures of performance.
EBITDA represents net assets afore interest, taxes, abrasion and amortization. Adapted EBITDA is authentic as EBITDA afore stock-based advantage expense. EBITDA and adapted EBITDA are presented because we accept they accommodate added advantageous advice to investors due to the assorted noncash items during the period. EBITDA and adapted EBITDA accept limitations as analytic tools, and you should not accede them in isolation, or as a acting for assay of our operating after-effects as appear beneath GAAP. Some of these limitations are:
VERTEX ENERGY, INC.CONSOLIDATED BALANCE SHEETS(UNAUDITED)
VERTEX ENERGY, INC.CONSOLIDATED STATEMENTS OF OPERATIONS(UNAUDITED)
VERTEX ENERGY, INC.CONSOLIDATED STATEMENTS OF CASH FLOWSSIX MONTHS ENDED JUNE 30, 2018 AND 2017 (UNAUDITED)
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