FutureFuel Corp (NYSE: FF) is a specialty chemicals and biofuels manufacturer that produces inorganic chemicals, bio-based specialty chemicals, and biodiesel at an integrated facility in Batesville, Arkansas. Revenue comes from transactional product sales under master sales agreements and standalone purchase orders, with title and risk transferring at shipment or delivery. The company operates two segments: Chemicals and Biofuels. For FY2025, the Chemicals segment was divided into Custom Manufacturing (54% of total revenue), Agrochemicals and Oilfield Chemicals plus Industrial Intermediates and Fabric Care plus Coatings and Specialty Polymers (collectively 38% of total revenue), and Performance Chemicals (8% of total revenue). The Biofuels segment contracted sharply in FY2025, with biofuels sales revenue falling 78% versus FY2024, driven by a 75% reduction in sales volume tied to an extended plant turnaround and a strategic decision to idle production amid regulatory uncertainty. FutureFuel paid quarterly cash dividends totaling $0.24 per share in FY2025 and declared an initial quarterly dividend of $0.06 per share for Q1 2026.

Revenue model

Transactional product sales billed under master sales agreements or standalone purchase orders, with payment terms of 30 to 75 days for chemical customers and 5 to 10 days for biofuels customers. Certain long-term chemical contracts carry upfront non-refundable payments treated as material rights. Biofuels revenue includes optional separated RIN (Renewable Identification Number) credit sales and byproduct sales of crude and refined glycerin. Custom manufacturing contracts with strategic chemical customers represent 54% of FY2025 total revenue.

Products and services

Chemicals segment: custom-manufactured specialty chemicals for strategic customers; agrochemicals and oilfield chemicals; industrial intermediates; fabric care chemicals; coatings and specialty polymers; performance chemicals including polymer modifiers for nylon and polyester, specialty solvents and surfactants, and high-purity glycerin products. Biofuels segment: biodiesel sold as neat fuel or in blends (B5, B20, up to B80), with associated D4 RINs sold attached or separated; crude glycerin sold for industrial and agricultural applications; refined glycerin sold for specialty applications; distillation residue byproducts.

Customers and end markets

Chemical segment customers are strategic third-party accounts in agrochemicals, oilfield services, fabric care, coatings, and specialty polymers industries, served under long-term custom manufacturing arrangements. In FY2025, no single customer represented more than 10% of total revenue. Historically, a portion of biodiesel output was sold to two major U.S. refiners, but that concentration did not persist into FY2025. Biofuels end markets include California's Low Carbon Fuel Standard (LCFS) program, with California historically representing a significant share of biofuels revenue.

Value-chain role

Vertically integrated manufacturer operating a 2,200-acre ISO 9001-accredited production site in Batesville, Arkansas, with on-site utilities, waste treatment handling over 97% of generated waste, and batch and continuous processing capabilities. FutureFuel sits between raw material suppliers and end-use industrial customers, performing custom synthesis, blending, refining, and byproduct processing entirely at a single integrated facility.

Geographic exposure

Primary operations and manufacturing in Batesville, Arkansas. Biofuels revenues have historically been concentrated in California due to the state's LCFS program. No international geographic breakdown disclosed in the referenced filing excerpts.

Source: SEC 10-K, filed 2026-03-16

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