HomeMarket NewsMicro Cap StocksVertex Energy Exceeds Q3 Throughput Volume Expectations, Crediting Optimization Initiatives

Vertex Energy Exceeds Q3 Throughput Volume Expectations, Crediting Optimization Initiatives

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Vertex Energy Inc (NASDAQ: VTNR) has provided an updated financial and operational outlook for the third quarter of 2023. Notably, the company’s Q3 throughput volumes at its Mobile, Alabama Refinery are expected to reach approximately 80,000 barrels per day (bpd), surpassing its previous guidance range of 74,000 bpd to 77,000 bpd. This achievement is attributed to Vertex Energy’s ongoing efforts to enhance its conventional feedstock procurement program initiated in the second quarter.

In addition, Vertex Energy anticipates a capacity utilization rate of 107%, exceeding its previous outlook range of 99% to 103%. This reflects the company’s effective utilization of its operational capabilities.

Moreover, Vertex Energy foresees that finished fuel products will constitute approximately 65% to 67% of its total production. These developments showcase the company’s ability to optimize its operational processes and meet the growing demand for its products.

This news was originally reported on Benzinga.com and can be accessed in its entirety on their website.

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