Vertex Energy jumps as profit nearly triples

Vertex Energy

08/11/2022 13:21

** Shares of oil and gas firm Vertex Energy Inc  VTNR.O  up
9.1% at $9.30 premarket, on track to open at their highest in
nearly three months if gains hold
    ** Co's Q3 net income increases to $22.2 mln, or $0.28 per
share, from $7.9 mln, or $0.12 per share, last year
    ** Q3 total throughput at its Mobile refinery was 67,954
barrels per day (bpd), resulting in 91% utilization; co expects
Q4 throughput between 73,000 and 75,000 bpd
    ** "Several ongoing factors will continue to support a
robust refined product margin environment for the U.S. refining
complex in the near to medium term"- VTNR
    ** Shares had gained 87.6% YTD, as of last close
 (Reporting by Ankit Kumar in Bengaluru)
 ((Ankit.Kumar2@thomsonreuters.com))