FutureFuel Profit Falls; Stock Plunges - Update

(RTTNews) - FutureFuel Corp. (FF) Thursday reported a lower first-quarter profit, hurt by an 11 percent drop in revenues. Results were impacted by flat revenue and lower profitability in biodiesel and lower volume in the chemical division, the company said.

FutureFuel shares plunged 13 percent in after-hours trade on the New York Stock Exchange.

FutureFuel makes chemical products, biofuels, and biobased specialty chemical products.

The Clayton, Missouri-based company posted first-quarter net income of $6.3 million or $0.14 per share, compared with $14 million or $0.33 per share last year.

Analysts polled by Thomson Reuters expected earnings of $0.17 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter declined to $82 million from $92 million a year ago. Analysts estimated revenues of $68.45 million for the quarter.

FutureFuel declared normal quarterly dividends of $0.12 per share for 2014.

FutureFuel stock closed Thursday at $20.31, down $0.47 or 2.26%, on a volume of 338k shares. In after hours, the stock further dropped $2.71 or 13.34%, to trade at $17.60