This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Vertex Energy Completes Project Relating To Managing And Selling Large Quantity Of Distressed Diesel Fuel

Stocks in this article: VTNR

Vertex Energy, Inc. (NASDAQ: VTNR), an environmental services company that recycles industrial waste streams and off-specification commercial chemical products, announced that its Vertex Recovery division has completed the largest diesel project in the company's history.

Vertex Recovery is Vertex Energy’s generator solutions division for the proper recycling and recovery management of hydrocarbon products. It collects and recycles used oils, crude oils, petroleum products, glycols and various residual materials from large regional and national generators throughout the U.S. and Canada. Vertex Recovery removed and sold 2 million gallons of distressed fuel into a new market in the third quarter of 2013. In conjunction with fuel removal operations, Vertex Recovery also participated in the dismantling of a fuel system and the decommissioning of a facility. Given the company's position in the industry and expertise in handling distressed hydrocarbons, the company anticipates that additional similar projects will be an increasing part of its business going forward.

This project will have a beneficial impact on the third quarter 2013 results. The company expects to report revenues between $45 million and $50 million, and net income between $2.2 million and $2.5 million for the quarter ended September 30, 2013.

Benjamin P. Cowart, Chief Executive Office of Vertex Energy, said, "We continue to explore opportunities that enhance the strength and integration of our business. This most recent project demonstrates our capabilities in managing and sourcing large quantities of distressed fuels and hydrocarbons other than used motor oil. Our unique expertise in projects of this nature highlights our ability to solve a wide range of distressed hydrocarbon generator issues, including those encountered at large industrial facilities." Mr. Cowart added, “While most projects like this are smaller in scale and somewhat infrequent, we believe that our reputation, expertise and knowledge puts us in an excellent position to capture a major market share of this niche segment of the industry. We are working on finalizing contracts for additional projects that we hope to close in the next six to nine months.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,416.85 +225.48 1.31%
S&P 500 2,021.25 +19.09 0.95%
NASDAQ 4,683.4070 +45.4130 0.98%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs