Vertex Energy Inc (OQ:VTNR)
Business Focus: Oil & Gas Refining and Marketing
| Sector: Energy | Industry: Oil & Gas Refining and Marketing |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | SUITE 250, 1331 GEMINI STREET HOUSTON TX 77058 |
| Tel: | N/A |
| Website: | https://www.vertexenergy.com |
| IR: | See website |
| Key People | ||
| Benjamin Paul Cowart Chairman of the Board, President, Chief Executive Officer | Chris Carlson Chief Financial Officer | James Rhame Chief Operating Officer |
| John Noel Strickland Vice President - Black Oil Operations | James P. Gregory General Counsel, Secretary | Douglas Scott Haugh Chief Commercial Officer | Alvaro Ruiz Chief Strategy Officer |
| Business Overview |
| Vertex Energy Inc. is an energy transition company that specializes in producing both renewable and conventional fuels. The Company is engaged in operations across the petroleum value chain, including refining, collection, aggregation, transportation, storage and sales of aggregated feedstock and refined products to end-users. Its segments include Refining and Marketing and Black Oil and Recovery. The Refining and Marketing segment is engaged in the refining and distribution of petroleum products and includes the Mobile Refinery and related operations. In addition, it aggregates a diverse mix of feedstocks petroleum distillates, transmix and other off-specification chemical products. The Black Oil business is engaged in operations across the entire used motor oil recycling value chain including collection, aggregation, transportation, storage, refinement, and sales of aggregated feedstock and re-refined products to end users. It owns a fleet of 68 collection vehicles. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Vertex Energy Inc revenues increased 14% to $3.18B. Net loss applicable to common stockholders excluding extraordinary items increased from $17M to $125.7M. Revenues reflect Refining & Marketing segment increase of 17% to $3.05B. Higher net loss reflects Refining & Marketing segment income decrease of 87% to $7.8M, Black Oil & Recovery segment loss totaling $5.3M vs. income of $19.4M. |
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