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- vertex energy (NASDAQ: VTNRAfter the close on Tuesday, the company said it now expects second-quarter direct operating expenses to be 7% lower than the midpoint of its previous guidance, and capital expenditures to be 29% lower.
- Second quarter regular throughput is expected to be 68,000 barrels per day (bpd), within guidance Range is 68,000 to 72,000 b/d, Vertex Energy (VTNR) explain.
- Benjamin P. Cowart, president and chief executive officer of Vertex, said: “We will continue to execute on our strategic pause in the renewable diesel business and transition to the production of conventional fuels through hydrocrackers.”
- Additionally, the company said capital expenditures are expected to be $15 million to $17 million, 28.9% below the midpoint of expectations.
- Vertex’s reported second-quarter 2024 recycled diesel production is expected to be about 3,000 barrels per day, at the midpoint of the forecast range of 2,000 to 4,000 barrels per day.
- Vertex Energy (VTNR) added that it has completed the planned shutdown of its hydrotreating unit and ceased production of recycled diesel.
- Source: press release
