Vertex Energy jumps on strong fourth-quarter earnings

Vertex Energy

28/02/2023 16:59

** Oil and gas company Vertex Energy Inc's shares  VTNR.O 
rise 17.5% to $9.60 - biggest pct. jump in almost a year
    ** VTNR reports adj. earnings of 71 cents per share, beating
analysts' consensus of 40 cents per share
    ** Reports fourth-quarter net income of $44.4 mln versus a
net loss of $8.3 mln last year
    ** Total throughput at VTNR's Mobile refinery in Alabama was
77,964 barrels per day in Q4, resulting in the refinery's
capacity utilization of 104%
    ** Co remains on track to begin the production of renewable
diesel in the second quarter of this year, says CEO Benjamin P.
Cowart in a statement
    ** Stock gained 37% in 2022 and is up 56% this year

 (Reporting by Arshreet Singh in Bengaluru)
 ((Arshreet.Singh@thomsonreuters.com))