Vertex Energy sinks after quarterly report

Vertex Energy

09/08/2022 16:14

** Shares in oil refiner Vertex Energy  VTNR.O  down 42.5% 
after posting quarterly loss vs Wall St expectations for a
profit  even as revenue beat estimates
    ** Shares on track for biggest one-day pct drop in 12 years
    ** VTNR adj. loss per share of $0.62 vs mean estimate for
EPS of $1.24 on rev of $991.84 mln ahead of consensus view of
$984.52 mln, according to Refinitiv  urn:newsml:reuters.com:*:nFWN2ZL1XQ
    ** Co says entering Q3, market conditions favorable,
supported by regional supply-demand imbalances supporting 
elevated refined product margins
    ** Last traded at $8.04 vs median PT of $21, according to
Refinitiv which shows five analysts covering the co with 2
'strong buy' and 3 'buy' ratings

 (Reporting By Sinéad Carew)
 ((sinead.carew@thomsonreuters.com;))