FutureFuel Corp. (NYSE: FF)

FutureFuel Corp. manufactures a diverse portfolio of inorganic chemicals, bio-based specialty chemicals, and biofuels at its integrated facility in Batesville, Arkansas. It operates primarily through its subsidiary FutureFuel Chemical Company and is publicly traded on the New York Stock Exchange under the ticker FF, with its headquarters located at the Batesville site.

For the year ended December 31, 2,025, revenue was derived from 3 main sources: custom manufacturing of specialty chemicals (54% of total), biofuels production and sales (38%), and performance chemicals sold to multiple customers (8%). Custom manufacturing involves producing unique proprietary molecules under long-term contracts, performance chemicals include items such as polymer modifiers, solvents, and glycerin, while biofuels consist of biodiesel and petrodiesel blends with co product sales of glycerin and distillation residue contributing to overall income.

The company operates through 2 primary segments: Chemicals and Biofuels.

• Chemicals: The Chemicals segment provides custom manufacturing of specialty chemicals for specific third party customers under confidentiality agreements and also produces performance chemicals such as polymer modifiers, specialty solvents, surfactants and glycerin products that are sold to multiple users based on technical specifications. It serves markets including agrochemicals and oilfield chemicals, industrial intermediaries and fabric care, and coatings and specialty polymers, leveraging its integrated infrastructure and technical expertise to deliver high volume, low cost production.

• Biofuels: The Biofuels segment produces biodiesel (fatty acid mono alkyl esters) with a nameplate capacity of approximately 59,000,000 gallons per year, utilizing flexible feedstocks such as soy oil, poultry fat, used cooking oil, beef tallow and white grease, and generates co product glycerin and distillation residue that are sold to industrial and agricultural markets, while maintaining ASTM D6751 compliance and BQ 9000 accreditation.

In the specialty chemicals sector, FutureFuel competes against large multinational producers based in India and China as well as smaller independent firms, and it distinguishes itself through scale and integrated infrastructure, technical sophistication backed by ISO 9001 and GMP capabilities, operational reliability and a strong balance sheet that supports long-term customer relationships. In the biofuels arena, it faces competition from renewable diesel producers, sustainable aviation fuel makers and the traditional petroleum industry, yet it maintains advantages in price competitiveness, reliable supply, product quality, RIN integrity and feedstock flexibility that allow it to operate effectively in a regulated market.

The company serves a diversified customer base that includes strategic third party partners in agrochemicals, oilfield, industrial intermediates, fabric care, coatings and polymers for its chemicals business, and a broad range of buyers in transportation, heating, electricity generation and agriculture for its biofuels, with no single customer disclosed as representing more than 10% of total revenue except that 3 chemical clients together accounted for 48% of sales in 2,025.