Alto Ingredients Inc (ALTO)

[Rule_62]

Keep in mind that's the gross production margin. It doesn't take plant operating costs into account, nor does it factor in taxes, interest costs, etc. The 30% for co-products prices in wet distillers grains as well as corn oil. The corn oil takes into account current corn oil production, but not the increased capacity being installed.

If you go back and read through the 10-Q's for the year, you can see how they fared against that formula. They provide the average CBOT corn and LA ethanol prices along side the actual cost they paid for corn and sale price for ethanol. They also report the percentage actually achieved for co-products.