FutureFuel recorded full-year 2025 revenues of $95.7 million, down 61% from $243.3 million in 2024. Net loss was $49.4 million, or $1.13 per diluted share, compared with net income of $15.5 million, while adjusted EBITDA swung to a negative $38.3 million from positive $21.3 million.

In Q4, revenues fell 68% year-over-year to $19.8 million, producing a net loss of $12.0 million, or $0.27 per share, and an adjusted EBITDA loss of $8.4 million. A $5.6 million LIFO inventory adjustment weighed on gross profit, and the board declared a $0.06 per share cash dividend for Q1 2026.

Late in Q4, the company commissioned its new methacrylate plant, achieving backward integration into a key raw material. Management expects meaningful revenue contributions from this facility in 2026 and is progressing customer-backed capacity expansions and a major production line upgrade slated to boost margins by year-end.

Following a mid-year production pause due to credit expiration, final IRA 45Z guidance through 2029 has restored regulatory clarity. With Renewable Volume Obligations set to rise and raw material procurement resumed, biodiesel production is restarting and utilization should improve despite elevated input costs.