Futurefuel Corporation (FF) has reported 165.32 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $12.87 million, or $0.29 a share in the quarter, compared with $4.85 million, or $0.11 a share for the same period last year. Revenue during the quarter plunged 35.26 percent to $69.31 million from $107.05 million in the previous year period. Gross margin for the quarter expanded 679 basis points over the previous year period to 14.89 percent. Total expenses were 88.69 percent of quarterly revenues, down from 94.46 percent for the same period last year. This has led to an improvement of 577 basis points in operating margin to 11.31 percent.
Operating income for the quarter was $7.84 million, compared with $5.93 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $10.12 million compared with $2.59 million in the prior year period. At the same time, adjusted EBITDA margin improved 1218 basis points in the quarter to 14.60 percent from 2.42 percent in the last year period.
Operating cash flow improves significantlyFuturefuel Corp has generated cash of $76.88 million from operating activities during the nine month period, up 28.30 percent or $16.96 million, when compared with the last year period. The company has spent $40.44 million cash to meet investing activities during the nine month period as against cash inflow of $1.63 million in the last year period
The company has spent $8.11 million cash to carry out financing activities during the nine month period as against cash outgo of $9.08 million in the last year period.
Cash and cash equivalents stood at $182.37 million as on Sep. 30, 2016, up 3.30 percent or $5.83 million from $176.55 million on Sep. 30, 2015.
Working capital increases
Futurefuel Corp has recorded an increase in the working capital over the last year. It stood at $347.08 million as at Sep. 30, 2016, up 22.95 percent or $64.79 million from $282.29 million on Sep. 30, 2015. Current ratio was at 9.41 as on Sep. 30, 2016, down from 9.59 on Sep. 30, 2015.
Cash conversion cycle (CCC) has decreased to 42 days for the quarter from 50 days for the last year period. Days sales outstanding went up to 48 days for the quarter compared with 31 days for the same period last year.
Days inventory outstanding has decreased to 37 days for the quarter compared with 42 days for the previous year period. At the same time, days payable outstanding went up to 43 days for the quarter from 23 for the same period last year.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
