Vertex Energy Shares Pop As It Clocks $810M Revenue In Q3

Vertex Energy Inc VTNR reported third-quarter revenue of $810.2 million, compared to $50.98 million in 3Q21, missing the consensus of $913.7 million.
EPS of $0.28 beat the consensus of $0.15.
Income from operations was $17.6 million versus $(4.8) million a year ago.
Vertex Energy had $122.3 million in cash and equivalents.
"During the third quarter, we demonstrated continued operational reliability and flexibility at our Mobile, AL facility, despite several unforeseen challenges," stated Benjamin P. Cowart, President and CEO of Vertex, who continued, "Our third quarter financial results included some non-recurring items related to hedges and transaction costs."
4Q22 Outlook: Vertex Energy throughput of 73,000 - 75,000 barrels per day at the Mobile refinery. It sees total capital expenditures of $35 million - $40 million.
The company said all its prior financial guidance should no longer be relied upon.
Price Action: VTNR shares are trading higher by 6.92% at $9.09 in the premarket on the last check Tuesday.