FutureFuel Stock Jumps On Strong Q4 Results - Update

(RTTNews) - Shares of FutureFuel Corp. (FF) surged 23 percent in extended trade on Monday, after the chemicals and biofuels company reported a better-than-expected jump in fourth-quarter profit.

"FutureFuel enjoyed strong performance in both our chemical and biodiesel business lines. Market conditions combined with superior execution resulted in record revenue and profits for 2013," said Company President Lee Mikles.

FutureFuel shares stock touched a new high in a year, gaining about 23 percent, at $21.55 in after-hours trade on the NYSE.

Clayton, Missouri-based FutureFuel reported fourth-quarter net income of $26.5 million or $0.61 per share, compared with $6.2 million or $0.15 per share last year.

Analysts polled by Thomson Reuters expected earnings of $0.23 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter jumped 68 percent to $125.6 million from $74.6 million in the prior year.

FutureFuel declared quarterly dividends of $0.12 per share for 2014, an increase of one cent from the prior year.

Dividends in 2013 totaled $0.69 per share, including an additional $0.25 per share special dividend.

The company's stock closed Monday at $17.56, up $0.18 or 1.04%, on a volume of 392k shares. In after hours, the stock gained $3.99 or 22.72% at $21.55.