The sharp reversal from Q1's storm-impacted loss to Q2 profitability confirms the operational turnaround thesis. With $22M in tax credit proceeds expected in H2 and customer-funded capacity expansions, monitor Q3 production rates and feedstock cost trends for margin sustainability. The stock's $223M market cap implies significant upside if the company sustains this earnings trajectory.
Price Chart
Executive Summary
FutureFuel Corp. reported a transformative Q2 2026, swinging from a net loss of ($14.2M) to net income of $11.4M, driven by a 120.7% revenue surge to $78.7M. Both Chemicals and Biofuels segments returned to profitability, with Biofuels gross profit improving by $23.6M year-over-year. The company generated $18.8M in operating cash flow and expects $22M in tax credit monetization proceeds in H2 2026, signaling a strong operational turnaround from the storm-impacted Q1.
Key Financial Metrics
Key Facts
- Total revenue of $78.7M, +120.7% YoY vs $35.7M
- GAAP net income of $11.4M ($0.25/diluted share) vs net loss of ($14.2M) in Q2 2025
- Adjusted EBITDA of $11.8M vs ($11.4M) in prior year
- Chemicals segment gross profit of $5.0M vs $1.1M; Biofuels gross profit of $10.1M vs gross loss of ($13.5M)
- Operating cash flow of $18.8M in Q2; total cash of $34.3M with no borrowings on $35M revolver
- Expects $22M in gross proceeds from 45Z tax credit monetization in H2 2026
- Chemicals capacity utilization improved to 65% from 54%; Biofuels utilization at 56%
Financial Impact
Revenue increased by $43.1M (+120.7% YoY); net income improved by $25.6M from a ($14.2M) loss to $11.4M profit
Risk Factors
- Elevated soybean oil and feedstock costs may compress Biofuels gross profit per gallon
- Derivative timing benefits ($9.1M realized loss in Q1 offset in Q2) may not recur
- Biofuels plant experienced a >3-week outage in Q2, indicating operational fragility
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-026783 |
| Document: ff20260521_8k.htm | 0001437749-26-026783 |
| Document: 0001437749-26-026783-index-headers.html | 0001437749-26-026783 |
| Document: 0001437749-26-026783-index.html | 0001437749-26-026783 |
| Document: 0001437749-26-026783.txt | 0001437749-26-026783 |
| 8-K Data (Synthetic) | 0001437749-26-026783 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 10, 2026 11w ago | 8-K | $6.37 $5.37 | ▼ −15.70% | ▼ −14.64% | $5.72 (−10.20%) |
Jul 28, 2026 12w ago | 8-K | $4.67 $5.31 | ▲ +13.70% | ▲ +8.68% | $5.72 (+22.48%) |
Jun 30, 2026 16w ago | 8-K | $4.64 $4.67 | ▲ +0.65% | ▲ +2.83% | $5.72 (+23.28%) |
Jun 26, 2026 17w ago | 8-K | $4.63 $4.65 | ▲ +0.43% | ▲ +0.71% | $5.72 (+23.54%) |
May 11, 2026 24w ago | 8-K | $4.07 $4.57 | ▲ +12.29% | ▲ +14.01% | $5.72 (+40.54%) |
Apr 20, 2026 27w ago | 8-K | $4.23 $4.22 | ▼ −0.24% | ▼ −5.15% | $5.72 (+35.22%) |
Apr 20, 2026 27w ago | Press Release | $4.23 $4.22 | ▼ −0.24% | ▼ −5.15% | $5.72 (+35.22%) |
Mar 31, 2026 29w ago | Press Release | $3.85 $4.25 | ▲ +10.39% | ▲ +0.97% | $5.72 (+48.57%) |
Mar 16, 2026 32w ago | Press Release | $3.98 $4.00 | ▼ −0.50% | ▲ +3.80% | $5.72 (−43.72%) |
Feb 25, 2026 34w ago | 8-K | $4.35 $3.73 | ▼ −14.22% | ▼ −7.82% | $5.72 (+31.54%) |
US Market Status
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