Vertex Energy Inc's Suppliers recorded an increase in sales by 4.95 % year on year in Q2 2024, sequentially sales grew by 23.25 %, Vertex Energy Inc recorded an increase in cost of sales by 1.65 % year on year, sequentially cost of sales grew by 13.65 % in Q2.
Vertex Energy Inc's Suppliers recorded an increase in sales by 4.95 % year on year in Q2 2024, sequentially sales grew by 23.25 %, Vertex Energy Inc recorded increase in cost of sales by 1.65 % year on year, sequentially cost of sales grew by 13.65 % in Q2.
The company acquired Heartland Assets, including used oil refining and storage facilities in Ohio, Kentucky, and West Virginia, through its subsidiary Vertex Refining OH, LLC, but sold these assets in February 2023. On June 1, 2020, it acquired Crystal Energy, LLC, an Alabama-based company engaged in purchasing, storing, selling, and distributing refined motor fuels, which substantially ceased operations in December 2023. From 2016 until January 2021, the company had an agreement with Penthol LLC to market and promote Group III base oil from the UAE to the US; this agreement was terminated by Penthol, resulting in ongoing litigation. On April 1, 2022, the company acquired a 75,000 barrels per day crude oil refinery in Saraland, Alabama, along with related logistics assets, including the Blakeley Island Terminal, from Equilon Enterprises LLC d/b/a Shell Oil Products US and/or Shell Oil Company.
Vertex Energy Inc's Comment on Supply Chain
The company acquired Heartland Assets, including used oil refining and storage facilities in Ohio, Kentucky, and West Virginia, through its subsidiary Vertex Refining OH, LLC, but sold these assets in February 2023. On June 1, 2020, it acquired Crystal Energy, LLC, an Alabama-based company engaged in purchasing, storing, selling, and distributing refined motor fuels, which substantially ceased operations in December 2023. From 2016 until January 2021, the company had an agreement with Penthol LLC to market and promote Group III base oil from the UAE to the US; this agreement was terminated by Penthol, resulting in ongoing litigation. On April 1, 2022, the company acquired a 75,000 barrels per day crude oil refinery in Saraland, Alabama, along with related logistics assets, including the Blakeley Island Terminal, from Equilon Enterprises LLC d/b/a Shell Oil Products US and/or Shell Oil Company.
VTNR's Suppliers Net profit fell by
VTNR's Suppliers Net margin fell in Q2 to
-13.22 %
7.83 %
VTNR's Suppliers Net profit fell by -13.22 %
VTNR's Suppliers Net margin fell in Q2 to 7.83 %
Vertex Energy Inc's Suppliers Sales Growth
in Q2 2024 by Industry
Sources:
Vertex Energy Inc 's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
Updated on:
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