Alto Ingredients Inc (NASDAQ:ALTO) shares are trading higher again Friday, extending a powerful two-day rally after the ethanol and specialty alcohol producer's blowout earnings report late Wednesday sparked a roughly 50% surge on Thursday. Here’s what investors need to know.
The company reported fourth-quarter and full-year 2025 results late Wednesday that marked a decisive return to profitability. In the fourth-quarter, Alto swung to net income of $21.5 million, or 28 cents per diluted share, from a year-earlier loss of $42 million, while gross profit improved to $15.2 million from a $1.4 million loss.
Adjusted EBITDA jumped to $27.9 million from negative $7.7 million, helped by wider crush margins, higher renewable fuel exports and derivative gains.
For 2025, Alto posted net income of $12.1 million, or 16 cents per share, versus a $60.3 million loss in 2024, and generated $44.7 million of adjusted EBITDA, up from $13.9 million. Management said the results reflect a third consecutive year of operational improvements.
Chief executive Bryon McGregor said Alto enters 2026 "in a position of greater strength," citing plans to enhance production capabilities, expand exports and monetize new Section 45Z tax credits tied to low-carbon fuels. The company ended 2025 with $23.4 million in cash and $102 million of borrowing availability, providing additional financial flexibility.
Over the past year, Alto's shares have surged from a low near 78 cents to a fresh 52-week high around $3.86, with the latest earnings-driven jump this week building on a powerful rally that began in late 2025.
The stock is now trading decisively above its rising 20-, 50- and 200-day moving averages, highlighting the strong upside momentum behind this week’s breakout move.

ALTO Price Action: Alto Ingredients shares were up 8.71% at $4.37 at the time of publication on Friday. The stock is trading at a new 52-week high, according to Benzinga Pro data.
Image: Shutterstock
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