The 82% revenue surge and guidance for positive full-year Adjusted EBITDA signal a potential turnaround, but the cash burn and derivative losses are concerning. Watch for Q2 operating cash flow improvement and whether the $25M customer-funded expansion materializes. The stock may trade on the revenue growth narrative near-term, but sustained profitability is needed for a re-rating.
Price Chart
Executive Summary
FutureFuel reported Q1 2026 revenue of $32.0M (+82.2% YoY) but a net loss of ($20.6)M, wider than the ($18.1)M loss a year ago, as a winter storm and $9.1M realized derivative loss weighed on results. The company guided to positive full-year 2026 Adjusted EBITDA (excluding derivative timing differences) and announced a $25M customer-funded capacity expansion, but cash burned to $22.4M from $51.3M at year-end 2025.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $32.0M, +82.2% YoY from $17.5M
- Net loss ($20.6)M vs ($18.1)M in Q1 2025
- Adjusted EBITDA ($13.8)M vs ($16.1)M in Q1 2025
- Winter Storm Fern caused 30-day outage with ~$3.2M gross loss impact
- Realized derivative loss of $9.1M in Q1 2026
- Cash and equivalents fell to $22.4M from $51.3M at Dec 31, 2025
- Operating cash flow ($20.0)M vs ($5.4)M in Q1 2025
- Customer committed $25M in 2026 and up to $17M in 2027 for capacity expansion
- Quarterly dividend reduced from $0.06 to $0.01 per share
- Full-year 2026 guidance: positive Adjusted EBITDA excluding derivative timing differences
Financial Impact
Revenue up 82% YoY to $32.0M, but net loss widened to ($20.6)M; cash burn of $28.9M in Q1
Risk Factors
- Cash burn rate: $28.9M in Q1 alone, leaving only $22.4M on hand
- Derivative losses ($9.1M realized) may recur if commodity hedging is mismatched
- Elevated feedstock costs for biofuels could persist, pressuring margins
- Winter storm disruptions may have lingering repair costs ($1.0M expected in Q2)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-016118 |
| Document: ff20260322_8k.htm | 0001437749-26-016118 |
| Document: 0001437749-26-016118-index-headers.html | 0001437749-26-016118 |
| Document: 0001437749-26-016118-index.html | 0001437749-26-016118 |
| Document: 0001437749-26-016118.txt | 0001437749-26-016118 |
| 8-K Data (Synthetic) | 0001437749-26-016118 |
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% | $5.81 (−8.79%) |
Jul 28, 2026 12w ago | 8-K | $4.67 $5.31 | ▲ +13.70% | ▲ +8.68% | $5.81 (+24.41%) |
Jun 30, 2026 16w ago | 8-K | $4.64 $4.67 | ▲ +0.65% | ▲ +2.83% | $5.81 (+25.22%) |
Jun 26, 2026 17w ago | 8-K | $4.63 $4.65 | ▲ +0.43% | ▲ +0.71% | $5.81 (+25.49%) |
May 11, 2026 24w ago | 8-K | $4.07 $4.57 | ▲ +12.29% | ▲ +14.01% | $5.81 (+42.75%) |
Apr 20, 2026 27w ago | 8-K | $4.23 $4.22 | ▼ −0.24% | ▼ −5.15% | $5.81 (+37.35%) |
Apr 20, 2026 27w ago | Press Release | $4.23 $4.22 | ▼ −0.24% | ▼ −5.15% | $5.81 (+37.35%) |
Mar 31, 2026 30w ago | Press Release | $3.85 $4.25 | ▲ +10.39% | ▲ +0.97% | $5.81 (+50.91%) |
Mar 16, 2026 32w ago | Press Release | $3.98 $4.00 | ▼ −0.50% | ▲ +3.80% | $5.81 (−45.98%) |
Feb 25, 2026 34w ago | 8-K | $4.35 $3.73 | ▼ −14.22% | ▼ −7.82% | $5.81 (+33.61%) |
US Market Status
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