Key Highlights

  • FutureFuel (NYSE:FF) finished Tuesday, November 10, 2026 at USD 2.84, off 43.98% from a calculated previous close of USD 5.07, following third-quarter results published on November 9.
  • Third-quarter Revenue jumped 361.3% to USD 104.7 million from USD 22.7 million, yet the company posted a net loss of USD 8.4 million, or USD 0.19 per diluted share, along with a gross loss of USD 5.4 million.
  • Trading reached 1.93 million shares, a relative Volume of 3.54, worth roughly USD 5.48 million at the close (calculated), alongside a Market Value of USD 124.57 million and a 2.76% dividend yield.
  • Cash of USD 21.3 million equals roughly 17.1% of market value (calculated), nothing is drawn on the USD 35 million revolver, and 43,863,318 shares are outstanding.

What Drove FutureFuel on November 10 (-43.98%)

The biofuel and chemicals producer wrapped up the regular session at USD 2.84, a decline of 43.98%, or about USD 2.23 per share from a calculated previous close of USD 5.07 on Monday, November 9, 2026. The pre-market indication stood at USD 3.60, so the shares slipped another 21.1% during the session (calculated). With 43,863,318 shares outstanding at September 30, 2026, calculated market value shrank from roughly USD 222.4 million to USD 124.57 million, which agrees with the snapshot. Results arrived after Monday's close, followed by a call at 11:00 a.m. ET on Tuesday. Biofuel revenue climbed to USD 87.8 million from USD 7.1 million, chemical revenue reached USD 16.9 million from USD 15.6 million, and nine-month revenue totalled USD 215.4 million against USD 75.9 million, with a nine-month net loss of USD 17.6 million.

The Rationale: Third-Quarter Results Show a Loss Despite Higher Revenue

The catalyst identified is the third-quarter release. Biofuel gross loss reached USD 9.8 million versus USD 2.4 million, whereas chemical Gross Profit was USD 4.4 million. Adjusted EBITDA was negative USD 4.9 million compared with negative USD 5.3 million, and management expects roughly USD 7.0 million in the fourth quarter. Operating Cash Flow was negative USD 10.3 million, and full-year Capital spending is guided at USD 25.8 million. The release does not tie the decline to one item. For general context, bigger volumes with negative margins can frustrate holders who hoped revenue growth would turn into profit, and a management team promising a fast turnaround invites a sharp reset when the first test disappoints.

Valuation, Liquidity and Risks for FutureFuel

Trailing diluted EPS in the snapshot is USD -0.70, with growth of -15.75%, so no P/E applies. The 2.76% yield works out to about USD 0.078 per share annually (calculated), and the company keeps paying its quarterly cash dividend. Trading of 1.93 million shares compares with an ordinary day near 0.55 million (calculated). A 52-week range could not be confirmed. The principal risks are dependence on the fourth-quarter EBITDA recovery of roughly USD 7.0 million, swings in biofuel margins, policy sensitivity and cash burn, given that cash declined from USD 34.3 million at June 30, 2026. A fall of this size says nothing about further decline or recovery. Liquidity was adequate for a mid-sized name, but the revolver and cash balance leave limited cushion if the fourth quarter falls short.

Where Things Stand

FutureFuel (NYSE:FF) slumped 43.98% to USD 2.84 on Tuesday, November 10, 2026 after a quarter with USD 104.7 million of revenue yet a USD 8.4 million net loss and a USD 5.4 million gross loss. Management points to roughly USD 7.0 million of fourth-quarter adjusted EBITDA, the number investors will now test.