Alto Ingredients (ALTO) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Alto Ingredients published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Segment sales include intersegment sales, so the table carries Alto's own intersegment eliminations row, which brings the segments back to net sales as reported.
• Q3 2026 pre-tax income includes $7.6 million of transferable Section 45Z tax credits generated, net of monetization costs, which Alto records below income from operations. There was no such line in Q3 2025.

Source: Alto Ingredients Q3 2026 earnings release, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Alto Ingredients splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Alto Ingredients's Pekin Campus production revenue was $165 million in Q3 2026, up 6% from $155 million in Q3 2025, 64% of total revenue.
• Alto Ingredients's Marketing and distribution revenue was $64.7 million in Q3 2026, up 6% from $61.2 million in Q3 2025, 25% of total revenue.
• Alto Ingredients's Western production revenue was $30.3 million in Q3 2026, up 17% from $25.9 million in Q3 2025, 12% of total revenue.
• Alto Ingredients's Corporate and other revenue was $1.8 million in Q3 2026, down 22% from $2.3 million in Q3 2025, under 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Alto Ingredients gives no revenue or earnings outlook in its release. Its only forward figure is the minimum 45Z clean fuel production tax credit it expects to earn in 2026.

In its Q3 2026 release, Alto Ingredients said:

“Through our efforts to lower our carbon scores at our Columbia facility and Pekin dry mill, we now expect to generate a minimum of $20 million, net of monetization costs, in 2026.”

Source: Alto Ingredients Q3 2026 earnings release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the ALTO forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP net sales and diluted net income (loss) per share, each as first reported in that quarter's earnings release.

We do not hold a confirmed date for Alto Ingredients's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

Alto Ingredients makes alcohol and the corn co-products that come out of the same process. Net sales were $257.9 million in Q3 2026, up from $241.0 million. The Pekin Campus in Illinois is the largest segment at $164.5 million of sales, made up of $114.5 million of alcohol and $49.8 million of essential ingredients. Marketing and distribution, which sells Alto's own and third-party fuel ethanol, had $64.7 million and Western production, the Boardman, Oregon and Burley, Idaho plants, had $30.3 million. (Alto Ingredients Q3 2026 earnings release, Nov 4, 2026; Alto Ingredients Form 10-Q, Q3 2026, Nov 6, 2026)

Price did the work in the quarter, not volume. Alto sold 89.0 million gallons in total, against 89.2 million a year earlier, while its average sales price rose to $2.23 per gallon from $2.09. The Platts ethanol price averaged $2.01 a gallon, up from $1.84. Within the total, 67.5 million gallons were renewable fuel (26.4 million of it from third parties) and 21.5 million were specialty alcohol. (Alto Ingredients Q3 2026 earnings release, Nov 4, 2026)

Alto Ingredients sells into five markets it names: Health, Home & Beauty (alcohols for mouthwash, cosmetics, pharmaceuticals and cleaners), Food & Beverage (grain neutral spirits for drinks and vinegar), Industry & Agriculture, Essential Ingredients, and Renewable Fuels. Its plants have a combined alcohol production capacity of 330 million gallons a year and produce over 1.2 million tons of essential ingredients annualized. (Alto Ingredients Form 10-Q, Q3 2026, Nov 6, 2026)

Essential ingredients sold totalled 325.1 thousand tons, including 152.2 thousand tons of distillers grains across the Pekin Campus and Western production. Alto measures these against what it pays for corn: the consolidated essential ingredients return was 53.5% of corn costs consumed, up from 52.5%. (Alto Ingredients Q3 2026 earnings release, Nov 4, 2026)

Alto completed its renewable fuel export shipments under contracts signed in late 2025 during Q3 2026, and said it elected to sell more renewable fuel domestically because its economics there are currently more favorable than selling into Europe. (Alto Ingredients Form 10-Q, Q3 2026, Nov 6, 2026)

Alto Ingredients earned $12.7 million for common stockholders, or $0.16 per diluted share, in Q3 2026, down from $13.9 million, or $0.19, a year earlier. Gross profit fell to $14.8 million from $23.5 million and gross margin to 5.7% from 9.7%. Alto put the decline primarily down to lower alcohol margins at the Pekin Campus: the crush margin fell $0.11 to $0.30 per gallon, which it says reduced gross profit by about $6.5 million. (Alto Ingredients Q3 2026 earnings release, Nov 4, 2026; Alto Ingredients Form 10-Q, Q3 2026, Nov 6, 2026)

Section 45Z tax credits largely made up the difference. Alto recorded $7.6 million of transferable tax credits generated, net, below income from operations, against none a year earlier. Income from operations was $7.0 million, down from $17.0 million, and interest expense, net fell to $1.5 million from $2.8 million. Alto paid down $6.5 million on its line of credit in the quarter. It recorded no provision for income taxes. (Alto Ingredients Q3 2026 earnings release, Nov 4, 2026; Alto Ingredients Form 10-Q, Q3 2026, Nov 6, 2026)

Alto does not report an adjusted EPS. Its non-GAAP measure is Adjusted EBITDA, which was $21.0 million, against $21.4 million, and excludes interest, taxes, unrealized derivative gains and losses, asset impairments and depreciation and amortization. Diluted weighted-average shares were 77,596 thousand, up from 74,777 thousand. (Alto Ingredients Q3 2026 earnings release, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Alto Ingredients does not publish a revenue or earnings outlook in its release. The one forward figure it gave with Q3 2026 is a minimum of $20 million of Section 45Z tax credit earnings, net of monetization costs, for 2026, after work to lower carbon scores at its Columbia facility and Pekin dry mill. (Alto Ingredients Q3 2026 earnings release, Nov 4, 2026)

Alto also said the Pekin dry mill debottlenecking project has it on track to exit 2026 with higher production capacity, and that it signed its first multi-year agreement with a local farmer cooperative to supply low carbon intensity corn to the Pekin campus. The 10-Q puts the crush margin in October 2026 at $0.32 per gallon. (Alto Ingredients Q3 2026 earnings release, Nov 4, 2026; Alto Ingredients Form 10-Q, Q3 2026, Nov 6, 2026)

A consensus figure is the average of the models published by the analysts who cover Alto Ingredients, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Alto Ingredients's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning ALTO is on is ALTO a buy or a sell?, what analysts expect next is on the ALTO forecast, and what the company does is on the Alto Ingredients (ALTO) stock page.

Every number on this page can be traced to a document Alto Ingredients published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.