FutureFuel (FF) 10-Q 8 Aug 22 2022 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 08, 2022
Document Information [Line Items]
Entity Central Index Key	0001337298
Entity Registrant Name	FUTUREFUEL CORP.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	0-52577
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-3340900
Entity Address, Address Line One	8235 Forsyth Blvd., Suite 400
Entity Address, City or Town	St Louis
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	63105
City Area Code	314
Local Phone Number	854-8352
Title of 12(b) Security	Common Stock
Trading Symbol	FF
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		43,763,243

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 129,154	$ 137,521
Accounts receivable, inclusive of the blenders' tax credit of $13,084 and $8,232, at June 30, 2022 and December 31, 2021, respectively, and net of allowances for bad debt of $87 and $67 at June 30, 2022 and December 31, 2021, respectively	37,488	29,316
Accounts receivable – related parties	78	58
Inventory	31,584	26,920
Income tax receivable	9,780	9,760
Prepaid expenses	1,815	3,588
Prepaid expenses – related parties	12	4
Marketable securities	39,426	47,190
Other current assets	3,506	1,476
Total current assets	252,843	255,833
Property, plant and equipment, net	79,145	82,901
Other assets	5,398	5,596
Total noncurrent assets	84,543	88,497
Total Assets	337,386	344,330
Liabilities and Stockholders’ Equity
Accounts payable, inclusive of the blenders' tax credit rebates due customers of $890 and $890, respectively	33,814	14,912
Accounts payable – related parties	8,237	7,911
Deferred revenue – current	8,091	6,151
Dividends payable	5,252	0
Accrued expenses and other current liabilities	5,422	6,081
Accrued expenses and other current liabilities – related parties	0	1
Total current liabilities	60,816	35,056
Deferred revenue – non-current	12,046	16,755
Noncurrent deferred income tax liability	167	1,870
Other noncurrent liabilities	1,551	1,721
Total noncurrent liabilities	13,764	20,346
Total liabilities	74,580	55,402
Commitments and contingencies:
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.0001 par value, 75,000,000 shares authorized, 43,763,243 and 43,763,243 issued and outstanding as of June 30, 2022 and December 31, 2021	4	4
Accumulated other comprehensive income	61	178
Additional paid in capital	282,443	282,443
Retained earnings (accumulated deficit)	(19,702)	6,303
Total stockholders’ equity	262,806	288,928
Total Liabilities and Stockholders’ Equity	$ 337,386	$ 344,330

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Allowance for bad debt	$ 87
Accounts receivable, tax credit	13,084	$ 8,232
Accounts payable, Blenders' Tax Credit Rebates	$ 890	$ 890
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares issued (in shares)	43,763,243	43,763,243
Common stock, shares outstanding (in shares)	43,763,243	43,763,243

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue	$ 117,796	$ 74,118	$ 160,057	$ 115,634
Gross profit (loss)	977	(43)	(6,178)	(10,779)
Selling, general, and administrative expenses
Compensation expense	701	523	1,357	1,051
Other expense	886	469	1,849	1,322
Related party expense	150	170	304	337
Research and development expenses	755	798	1,434	1,572
Total operating expenses	2,492	1,960	4,944	4,282
Loss from operations	(1,515)	(2,003)	(11,122)	(15,061)
Interest and dividend income	747	790	1,411	1,795
Interest expense	(33)	(32)	(65)	(64)
(Loss) gain on marketable securities	(3,239)	1,612	(7,366)	537
Other expense	(2)	(1,355)	(2)	(1,355)
Other (expense) income	(2,527)	1,015	(6,022)	913
Loss before taxes	(4,042)	(988)	(17,144)	(14,148)
Income tax benefit	(938)	(4,469)	(1,642)	(8,856)
Net (loss) income	$ (3,104)	$ 3,481	$ (15,502)	$ (5,292)
Earnings (loss) per common share
Basic (in dollars per share)	$ (0.07)	$ 0.08	$ (0.35)	$ (0.12)
Diluted (in dollars per share)	$ (0.07)	$ 0.08	$ (0.35)	$ (0.12)
Weighted average shares outstanding
Basic (in shares)	43,763,243	43,754,232	43,763,243	43,748,768
Diluted (in shares)	43,763,243	43,754,422	43,763,243	43,748,768
Net loss	$ (3,104)	$ 3,481	$ (15,502)	$ (5,292)
Other comprehensive (loss) income from unrealized net (losses) gains on available-for-sale debt securities	(86)	60	(148)	0
Income tax effect	18	(16)	31	0
Total other comprehensive (loss) income, net of tax	(68)	44	(117)	0
Comprehensive (loss) income	(3,172)	3,525	(15,619)	(5,292)
Non-related Parties [Member]
Revenue	117,640	73,813	159,714	114,971
Cost of goods sold	113,798	69,760	161,017	111,138
Non-related Parties [Member] | Shipping and Handling [Member]
Cost of goods sold	1,024	1,633	1,908	3,242
Related Parties [Member]
Revenue	156	305	343	663
Cost of goods sold	1,956	2,727	3,216	11,937
Related Parties [Member] | Shipping and Handling [Member]
Cost of goods sold	$ 41	$ 41	$ 94	$ 96

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	AOCI Attributable to Parent [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2020	43,743,243
Balance at Dec. 31, 2020	$ 4	$ 208	$ 282,215	$ 89,456	$ 371,883
Other comprehensive income (loss)	0	(60)	0	0	(60)
Net loss	$ 0	0	0	(8,773)	(8,773)
Balance (in shares) at Mar. 31, 2021	43,743,243
Balance at Mar. 31, 2021	$ 4	148	282,215	80,683	363,050
Balance (in shares) at Dec. 31, 2020	43,743,243
Balance at Dec. 31, 2020	$ 4	208	282,215	89,456	371,883
Net loss					(5,292)
Balance (in shares) at Jun. 30, 2021	43,763,243
Balance at Jun. 30, 2021	$ 4	208	282,446	(25,244)	257,414
Balance (in shares) at Mar. 31, 2021	43,743,243
Balance at Mar. 31, 2021	$ 4	148	282,215	80,683	363,050
Cash dividends declared	0	0	0	(109,408)	(109,408)
Other comprehensive income (loss)	0	60	0	0	60
Net loss	$ 0	0	0	3,481	3,481
Proceeds for the issuance of stock (in shares)	20,000
Proceeds for the issuance of stock	$ 0	0	231	0	231
Balance (in shares) at Jun. 30, 2021	43,763,243
Balance at Jun. 30, 2021	$ 4	208	282,446	(25,244)	257,414
Balance (in shares) at Dec. 31, 2021	43,763,243
Balance at Dec. 31, 2021	$ 4	178	282,443	6,303	288,928
Cash dividends declared	0	0	0	(10,503)	(10,503)
Other comprehensive income (loss)	0	(49)	0	0	(49)
Net loss	$ 0	0	0	(12,398)	(12,398)
Balance (in shares) at Mar. 31, 2022	43,763,243
Balance at Mar. 31, 2022	$ 4	129	282,443	(16,598)	265,978
Balance (in shares) at Dec. 31, 2021	43,763,243
Balance at Dec. 31, 2021	$ 4	178	282,443	6,303	288,928
Net loss					(15,502)
Balance (in shares) at Jun. 30, 2022	43,763,243
Balance at Jun. 30, 2022	$ 4	61	282,443	(19,702)	262,806
Balance (in shares) at Mar. 31, 2022	43,763,243
Balance at Mar. 31, 2022	$ 4	129	282,443	(16,598)	265,978
Other comprehensive income (loss)	0	(68)	0	0	(68)
Net loss	$ 0	0	0	(3,104)	(3,104)
Balance (in shares) at Jun. 30, 2022	43,763,243
Balance at Jun. 30, 2022	$ 4	$ 61	$ 282,443	$ (19,702)	$ 262,806

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Mar. 31, 2022	Jun. 30, 2021
Dividends declared, per share (in dollars per share)	$ 0.24	$ 2.50

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net loss	$ (15,502)	$ (5,292)
Adjustments to reconcile net income to net cash from operating activities:
Depreciation	5,276	5,231
Amortization of deferred financing costs	48	47
Benefit for deferred income taxes	(1,672)	(8,881)
Change in fair value of equity securities	7,339	222
Change in fair value of derivative instruments	(2,388)	1,136
(Gain) loss on the sale of investments	27	(758)
Loss on disposal of property and equipment	50	0
Impairment of intangible asset	0	1,315
Noncash interest expense	17	16
Changes in operating assets and liabilities:
Accounts receivable	(8,172)	(9,946)
Accounts receivable – related parties	(20)	1,405
Inventory	(4,664)	(19,625)
Income tax receivable	(20)	801
Prepaid expenses	1,773	1,977
Prepaid expenses – related parties	(8)	(12)
Other assets	125	635
Accounts payable	19,171	23,074
Accounts payable - related parties	326	7,959
Accrued expenses and other current liabilities	(659)	7
Accrued expenses and other current liabilities – related parties	(1)	0
Deferred revenue	(2,769)	(1,318)
Other noncurrent liabilities	(187)	(342)
Net cash used in operating activities	(1,910)	(2,349)
Cash flows from investing activities
Collateralization of derivative instruments	383	(2,060)
Purchase of marketable securities	0	(19,170)
Proceeds from the sale of marketable securities	250	37,873
Proceeds from the sale of property and equipment	56	0
Proceeds from the sale of intangible asset	0	93
Capital expenditures	(1,895)	(488)
Net cash (used in) provided by investing activities	(1,206)	16,248
Cash flows from financing activities
Proceeds from the issuance of stock	0	231
Payment of dividends	(5,251)	(114,658)
Net cash used in financing activities	(5,251)	(114,427)
Net change in cash and cash equivalents	(8,367)	(100,528)
Cash and cash equivalents at beginning of period	137,521	198,122
Cash and cash equivalents at end of period	129,154	97,594
Cash paid for interest	0	43
Cash paid for income taxes	276	79
Noncash investing and financing activities:
Noncash capital expenditures	95	51
Noncash operating leases	$ 0	$ 269

Note 1 - Nature of Operations a

Note 1 - Nature of Operations and Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Nature of Operations [Text Block]	1 ) NATURE OF OPERATIONS AND BASIS OF PRESENTATION Organization FutureFuel Corp. (“FutureFuel” or “the Company”), through its wholly-owned subsidiary, FutureFuel Chemical Company (“FutureFuel Chemical”), owns and operates a chemical production facility located on approximately 2,200 acres of land six two The chemical segment manufactures a diversified portfolio of chemical products that are sold to third The biofuels segment primarily produces and sells biodiesel. FutureFuel Chemical also sells petrodiesel in blends with the Company’s biodiesel and, from time to time, with no Basis of Presentation The unaudited consolidated financial statements have been prepared by FutureFuel in accordance and consistent with the accounting policies stated in FutureFuel’s 2021 In the opinion of FutureFuel, all normal recurring adjustments necessary for a fair presentation have been included in the unaudited consolidated financial statements. The unaudited consolidated financial statements have been prepared in compliance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with instructions to Form 10 not

Note 2 - Government Tax Credits

Note 2 - Government Tax Credits	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Other Income and Other Expense Disclosure [Text Block]	2 ) GOVERNMENT TAX CREDITS BIODIESEL BLENDERS TAX CREDIT AND SMALL AGRI-BIODIESEL PRODUCER TAX CREDIT The biodiesel Blenders’ Tax Credit (“BTC”) provides a one 0.1% December 31, 2022 Within the law of the BTC, small agri-biodiesel producers with production capacity not 60 $0.10 first 15 CARES ACT EMPLOYEE RETENTION TAX CREDIT The Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"), was enacted on March 27, 2020, January 1, 2021

Note 3 - Revenue Recognition

Note 3 - Revenue Recognition	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	1-year arrangements $ 6,148 $ 5,771 $ 16,290 $ 10,877 Contract revenue from customers with < 1-year arrangements 111,592 68,291 143,656 104,646 Revenue from non-contractual arrangements 56 56 111 111 Total revenue $ 117,796 $ 74,118 $ 160,057 $ 115,634 Timing of revenue : Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Bill-and-hold revenue $ 7,971 $ 7,878 $ 17,247 $ 15,427 Non-bill-and-hold revenue 109,825 66,240 142,810 100,207 Total revenue $ 117,796 $ 74,118 $ 160,057 $ 115,634 As of June 30, 2022, not June 30, 2021 not " id="sjs-B4" xml:space="preserve">3 REVENUE RECOGNITION FutureFuel recognizes revenue when performance obligations of the customer contract are satisfied. FutureFuel sells to customers through master sales agreements or standalone purchase orders. The majority of FutureFuel's terms of sale have a single performance obligation to transfer products. Accordingly, FutureFuel recognizes revenue when control has been transferred to the customer, generally at the time of shipment or delivery of products. For certain contracts, this occurs upon delivery of the material to a FutureFuel storage location, ready for customer pickup and separated from other FutureFuel inventory. Revenue is measured as the amount of consideration FutureFuel expects to receive in exchange for transferring products and is generally based upon a negotiated price. FutureFuel sells its products directly to customers generally under agreements with payment terms of 30 75 2 10 Certain of FutureFuel custom chemical contracts within the chemical segment contain a material right as defined by ASU 2014 09, Revenue from Contracts with Customers 606" 30 606. Contract Assets and Liabilities: Contract assets consist of unbilled amounts typically resulting from revenue recognized through bill-and-hold arrangements. The contract assets at June 30, 2022 December 31, 2021 one three six June 30, 2022 2021, three six June 30, 2022 2021, The following table provides the balances of receivables, contract assets, and contract liabilities from contracts with customers. Contract Assets and Liability Balances June 30, 2022 December 31, 2021 Trade receivables, included in accounts receivable* $ 23,756 $ 20,780 Contract assets, included in accounts receivable $ 726 $ 362 Contract liabilities, included in deferred revenue - short-term $ 7,368 $ 5,944 Contract liabilities, included in deferred revenue - long-term $ 8,461 $ 13,059 * Exclusive of the BTC of $13,084 and $8,232 , respectively, and net of allowances for bad debt of $87 and $67, respectively, as of the dates noted. Transaction price allocated to the remaining performance obligations: At June 30, 2022, two four The Company applies the practical expedient in ASC 606 10 50 14 one The following tables provide revenue from customers disaggregated by the type of arrangement and by the timing of the recognized revenue. Disaggregation of revenue - contractual and non-contractual : Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Contract revenue from customers with > 1-year arrangements $ 6,148 $ 5,771 $ 16,290 $ 10,877 Contract revenue from customers with < 1-year arrangements 111,592 68,291 143,656 104,646 Revenue from non-contractual arrangements 56 56 111 111 Total revenue $ 117,796 $ 74,118 $ 160,057 $ 115,634 Timing of revenue : Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Bill-and-hold revenue $ 7,971 $ 7,878 $ 17,247 $ 15,427 Non-bill-and-hold revenue 109,825 66,240 142,810 100,207 Total revenue $ 117,796 $ 74,118 $ 160,057 $ 115,634 As of June 30, 2022, not June 30, 2021 not

Note 4 - Inventory

Note 4 - Inventory	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Inventory Disclosure [Text Block]	4 INVENTORY The carrying values of inventory were as follows as of: June 30, 2022 December 31, 2021 At average cost (approximates current cost) Finished goods $ 22,435 $ 12,132 Work in process 942 462 Raw materials and supplies 28,822 30,117 52,200 42,711 LIFO reserve (20,616) (15,791 ) Total inventory $ 31,584 $ 26,920 For the six June 30, 2022, six June 30, 2021.

Note 5 - Derivative Instruments

Note 5 - Derivative Instruments	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	5 ) DERIVATIVE INSTRUMENTS The Company records all derivative instruments at fair value. Fair value is determined by using the closing prices of the derivative instruments on the New York Mercantile Exchange at the end of an accounting period. Changes in the fair value of derivative instruments are recognized at the end of each accounting period and recorded in the statement of income as a component of cost of goods sold. In order to manage commodity price risk caused by market fluctuations in biofuel prices, future purchases of feedstock used in biodiesel production, physical feedstock, finished product inventories attributed to the process, and other petroleum products purchased or sold, the Company may 815 20 25, no 2022 2021. Realized gains and losses on derivative instruments and changes in fair value of the derivative instruments are recorded in the consolidated statements of operations as a component of cost of goods sold and amounted to a loss of $17,476 and $26,605 for the three six June 30, 2022, three six June 30, 2021, The volumes and carrying values of FutureFuel’s derivative instruments were as follows at: Asset (Liability) June 30, 2022 December 31, 2021 Contract Quantity Fair Value Contract Quantity Fair Value Regulated fixed price future commitments, included in other current assets (in thousand barrels) 190 $ 1,902 142 $ (485 ) The margin account maintained with a broker to collateralize these derivative instruments carried an account balance of $1,301 and $1,684 at June 30, 2022 December 31, 2021, The estimated fair market value of the underlying physical commodity (feedstock and finished biodiesel inventory and undelivered feedstock commitments) was $5.8 million at June 30, 2022. not six June 30, 2022.

Note 6 - Marketable Securities

Note 6 - Marketable Securities	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Cash, Cash Equivalents, and Marketable Securities [Text Block]	6 ) MARKETABLE SECURITIES At June 30, 2022 December 31, 2021, The Company has designated the trust preferred securities as being available-for-sale. Accordingly, these securities were recorded at fair value of $3,754 and $3,902 at June 30, 2022 December 31, 2021, In accordance with ASC 321, three June 30, 2022 2021, six June 30, 2022 2021, The aggregate fair value of debt securities with unrealized losses totaled $335 at June 30, 2022 December 31, 2021. The Company determined an allowance for credit losses for these debt securities was not June 30, 2022. no There were no sales of debt securities in the six June 30, 2022 2021. The debt securities held at June 30, 2022, ten

Note 7 - Fair Value Measurement

Note 7 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Fair Value Disclosures [Text Block]	7 ) FAIR VALUE MEASUREMENTS Fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. Fair value accounting pronouncements also include a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability developed based on market data obtained from sources independent of FutureFuel. Unobservable inputs are inputs that reflect FutureFuel’s assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances. The hierarchy is broken down into three 1 2 not 3 The following tables provide information by level for assets and liabilities that are measured at fair value, on a recurring basis, at June 30, 2022 December 31, 2021. Asset (Liability) Fair Value Measurements Using Fair Value at Inputs Considered as: Description June 30, 2022 Level 1 Level 2 Level 3 Derivative instruments $ 1,902 $ 1,902 $ - $ - Preferred stock and other equity instruments $ 35,672 $ 35,672 $ - $ - Trust preferred stock $ 3,754 $ 3,754 $ - $ - Asset (Liability) Fair Value Measurements Using Fair Value at Inputs Considered as: Description December 31, 2021 Level 1 Level 2 Level 3 Derivative instruments $ (485 ) $ (485 ) $ - $ - Preferred stock and other equity instruments $ 43,288 $ 43,288 $ - $ - Trust preferred stock $ 3,902 $ 3,902 $ - $ -

Note 8 - Accrued Expenses and O

Note 8 - Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	8 ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consisted of the following at: June 30, 2022 December 31, 2021 Accrued employee liabilities $ 3,208 $ 3,347 Accrued property, franchise, motor fuel and other taxes 1,210 1,912 Lease liability, current 492 644 Other 512 178 Total $ 5,422 $ 6,081

Note 9 - Borrowings

Note 9 - Borrowings	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Debt Disclosure [Text Block]	9 ) BORROWINGS On March 30, 2020, April 16, 2015 ( five $100,000, March 30, 2025. The interest rate floats at the following margins over LIBOR or base rate based upon the leverage ratio from time to time: Consolidated Leverage Ratio Adjusted LIBOR Rate Loans and Letter of Credit Fee Base Rate Loans Commitment Fee < 1.00:1.0 1.00% 0.00% 0.15% ≥ 1.00:1.0 And < 1.50:1.0 1.25% 0.25% 0.15% ≥ 1.50:1.0 And < 2.00:1.0 1.50% 0.50% 0.20% ≥ 2.00:1.0 And < 2.50:1.0 1.75% 0.75% 0.20% ≥ 2.50:1.0 2.00% 1.00% 0.25% The terms of the Credit Facility contain certain negative covenants and conditions including a maximum consolidated leverage ratio and a consolidated minimum interest coverage ratio. There were no June 30, 2022 December 31, 2021.

Note 10 - Income Tax Provision

Note 10 - Income Tax Provision	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	10 ) INCOME TAX PROVISION The following table summarizes the income tax provision. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Income tax benefit $ (938 ) $ (4,469 ) $ (1,642 ) $ (8,856 ) Effective tax rate 23.2 % 452.3 % 9.6 % 62.6 % The Company’s effective tax rate for the six June 30, 2022 2022 not not 740. The Company evaluates its deferred tax assets quarterly and records a valuation allowance to reduce these assets to the amount that is more likely than not first 2022, ten not not. second first In the three six June 30, 2021, three six June 30, 2021 2022,

Note 11 - Earnings Per Share

Note 11 - Earnings Per Share	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Earnings Per Share [Text Block]	11 ) EARNINGS PER SHARE In the three six June 30, 2022 2021, Basic and diluted (losses) earnings per common share were computed as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Numerator: Net (loss) income $ (3,104) $ 3,481 $ (15,502) $ (5,292 ) Denominator: Weighted average shares outstanding – basic 43,763,243 43,754,232 43,763,243 43,748,768 Effect of dilutive securities: Stock options and other awards - 190 - - Weighted average shares outstanding – diluted 43,763,243 43,754,422 43,763,243 43,748,768 Basic (loss) earnings per share $ (0.07) $ 0.08 $ (0.35) $ (0.12 ) Diluted (loss) earnings per share $ (0.07) $ 0.08 $ (0.35) $ (0.12 ) In the three six June 30, 2022, three six June 30, 2021,

Note 12 - Related Party Transac

Note 12 - Related Party Transactions	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	12 ) RELATED PARTY TRANSACTIONS FutureFuel enters into transactions with companies affiliated with or controlled by a director and significant shareholder. Revenues, expenses, prepaid amounts, and unpaid amounts related to these transactions are captured in the accompanying consolidated financial statements as related party line items. Related party revenues are the result of sales of biodiesel, petrodiesel, blends, other petroleum products, and other similar or related products to these related parties. Related party cost of goods sold and distribution are the result of sales of biodiesel, petrodiesel, blends, and other petroleum products to these related parties along with the associated expense from the purchase of natural gas, storage and terminalling services by FutureFuel from these related parties. During 2021, 15, not

Note 13 - Segment Information

Note 13 - Segment Information	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	13 ) SEGMENT INFORMATION FutureFuel has two reportable segments organized along similar product groups – chemicals and biofuels. Chemicals FutureFuel’s chemical segment manufactures diversified chemical products that are sold externally to third Biofuels FutureFuel’s biofuels segment primarily manufactures and markets biodiesel. Biodiesel revenues are generated through the sale of biodiesel to customers through FutureFuel’s distribution network at the Batesville Plant, through distribution facilities available at leased oil storage facilities, and through a network of remotely located tanks. Biofuels revenues also include the sale of biodiesel blends with petrodiesel; petrodiesel with no not not may FutureFuel employs derivative instruments to manage biofuel commodity trading risk. See Note 5 June 30, 2022. Summary of business by segment Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenue Custom chemicals $ 12,266 $ 12,260 $ 27,981 $ 22,935 Performance chemicals 5,928 3,287 11,774 8,722 Chemicals revenue 18,194 15,547 39,755 31,657 Biofuels revenue 99,602 58,571 120,302 83,977 Total Revenue $ 117,796 $ 74,118 $ 160,057 $ 115,634 Segment gross (loss) profit Chemicals $ 4,196 $ 4,285 $ 9,614 $ 2,984 Biofuels (3,219 ) (4,328 ) (15,792 ) (13,763 ) Total gross (loss) profit $ 977 $ (43 ) $ (6,178) $ (10,779 ) Depreciation is allocated to segment cost of goods sold based on plant usage. The total assets and capital expenditures of FutureFuel have not Notes to Consolidated Financial Statements of FutureFuel Corp. (Dollars in thousands, except per share amounts) (Unaudited)

Note 14 - Recently Issued Accou

Note 14 - Recently Issued Accounting Standards	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	14 ) RECENTLY ISSUED ACCOUNTING STA NDARDS Recently Issued Accounting Standards Adopted Reference Rate Reform (ASU No. 2020 04 In March 2020, January 1, 2020 December 31, 2022. may

Note 15 - Legal Matters

Note 15 - Legal Matters	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	15 ) LEGAL MATTERS From time to time, FutureFuel and its operations are parties to, or targets of, lawsuits, claims, investigations, regulatory matters, and proceedings, which are being handled and defended in the ordinary course of business. While FutureFuel is unable to predict the outcomes of these matters, it does not As a result of the ext 2021. February 2021 The natural gas expense was a component of Cost of goods sold-related parties in the Consolidated Statements of Operations and Comprehensive Income in the six June 30, 2021. 12, not

Note 3 - Revenue Recognition (T

Note 3 - Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	Contract Assets and Liability Balances June 30, 2022 December 31, 2021 Trade receivables, included in accounts receivable* $ 23,756 $ 20,780 Contract assets, included in accounts receivable $ 726 $ 362 Contract liabilities, included in deferred revenue - short-term $ 7,368 $ 5,944 Contract liabilities, included in deferred revenue - long-term $ 8,461 $ 13,059
Disaggregation of Revenue [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Contract revenue from customers with > 1-year arrangements $ 6,148 $ 5,771 $ 16,290 $ 10,877 Contract revenue from customers with < 1-year arrangements 111,592 68,291 143,656 104,646 Revenue from non-contractual arrangements 56 56 111 111 Total revenue $ 117,796 $ 74,118 $ 160,057 $ 115,634 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Bill-and-hold revenue $ 7,971 $ 7,878 $ 17,247 $ 15,427 Non-bill-and-hold revenue 109,825 66,240 142,810 100,207 Total revenue $ 117,796 $ 74,118 $ 160,057 $ 115,634

Note 4 - Inventory (Tables)

Note 4 - Inventory (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30, 2022 December 31, 2021 At average cost (approximates current cost) Finished goods $ 22,435 $ 12,132 Work in process 942 462 Raw materials and supplies 28,822 30,117 52,200 42,711 LIFO reserve (20,616) (15,791 ) Total inventory $ 31,584 $ 26,920

Note 5 - Derivative Instrumen_2

Note 5 - Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Derivative Instruments [Table Text Block]	Asset (Liability) June 30, 2022 December 31, 2021 Contract Quantity Fair Value Contract Quantity Fair Value Regulated fixed price future commitments, included in other current assets (in thousand barrels) 190 $ 1,902 142 $ (485 )

Note 7 - Fair Value Measureme_2

Note 7 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Asset (Liability) Fair Value Measurements Using Fair Value at Inputs Considered as: Description June 30, 2022 Level 1 Level 2 Level 3 Derivative instruments $ 1,902 $ 1,902 $ - $ - Preferred stock and other equity instruments $ 35,672 $ 35,672 $ - $ - Trust preferred stock $ 3,754 $ 3,754 $ - $ - Asset (Liability) Fair Value Measurements Using Fair Value at Inputs Considered as: Description December 31, 2021 Level 1 Level 2 Level 3 Derivative instruments $ (485 ) $ (485 ) $ - $ - Preferred stock and other equity instruments $ 43,288 $ 43,288 $ - $ - Trust preferred stock $ 3,902 $ 3,902 $ - $ -

Note 8 - Accrued Expenses and_2

Note 8 - Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	June 30, 2022 December 31, 2021 Accrued employee liabilities $ 3,208 $ 3,347 Accrued property, franchise, motor fuel and other taxes 1,210 1,912 Lease liability, current 492 644 Other 512 178 Total $ 5,422 $ 6,081

Note 9 - Borrowings (Tables)

Note 9 - Borrowings (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	Consolidated Leverage Ratio Adjusted LIBOR Rate Loans and Letter of Credit Fee Base Rate Loans Commitment Fee < 1.00:1.0 1.00% 0.00% 0.15% ≥ 1.00:1.0 And < 1.50:1.0 1.25% 0.25% 0.15% ≥ 1.50:1.0 And < 2.00:1.0 1.50% 0.50% 0.20% ≥ 2.00:1.0 And < 2.50:1.0 1.75% 0.75% 0.20% ≥ 2.50:1.0 2.00% 1.00% 0.25%

Note 10 - Income Tax Provision

Note 10 - Income Tax Provision (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Income tax benefit $ (938 ) $ (4,469 ) $ (1,642 ) $ (8,856 ) Effective tax rate 23.2 % 452.3 % 9.6 % 62.6 %

Note 11 - Earnings Per Share (T

Note 11 - Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Numerator: Net (loss) income $ (3,104) $ 3,481 $ (15,502) $ (5,292 ) Denominator: Weighted average shares outstanding – basic 43,763,243 43,754,232 43,763,243 43,748,768 Effect of dilutive securities: Stock options and other awards - 190 - - Weighted average shares outstanding – diluted 43,763,243 43,754,422 43,763,243 43,748,768 Basic (loss) earnings per share $ (0.07) $ 0.08 $ (0.35) $ (0.12 ) Diluted (loss) earnings per share $ (0.07) $ 0.08 $ (0.35) $ (0.12 )

Note 13 - Segment Information (

Note 13 - Segment Information (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenue Custom chemicals $ 12,266 $ 12,260 $ 27,981 $ 22,935 Performance chemicals 5,928 3,287 11,774 8,722 Chemicals revenue 18,194 15,547 39,755 31,657 Biofuels revenue 99,602 58,571 120,302 83,977 Total Revenue $ 117,796 $ 74,118 $ 160,057 $ 115,634 Segment gross (loss) profit Chemicals $ 4,196 $ 4,285 $ 9,614 $ 2,984 Biofuels (3,219 ) (4,328 ) (15,792 ) (13,763 ) Total gross (loss) profit $ 977 $ (43 ) $ (6,178) $ (10,779 )

Note 1 - Nature of Operations_2

Note 1 - Nature of Operations and Basis of Presentation (Details Textual)	6 Months Ended
	Jun. 30, 2022 a
Area of Land (Acre)	2,200
Number of Operating Segments	2

Note 3 - Revenue Recognition 1

Note 3 - Revenue Recognition 1 (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Increase (Decrease) in Contract with Customer, Liability			$ (2,769)	$ (1,318)
Contract with Customer, Liability, Revenue Recognized	$ 961	$ 1,014	3,173	1,737
Accounts Receivable, Blenders' Tax Credit	13,084		13,084		$ 8,232
Accounts Receivable, Allowance for Credit Loss, Ending Balance	87		87		$ 67
Bill and Hold Inventory [Member] | Bill and Hold Inventory Invoiced, but not Shipped [Member]
Contract with Customer, Liability, Total	3,491	3,421	3,491	3,421
Chemicals [Member]
Increase (Decrease) in Contract with Customer, Liability	$ 0	$ 320	$ 0	$ 529

Note 3 - Revenue Recognition 2

Note 3 - Revenue Recognition 2 (Details Textual) $ in Thousands	Jun. 30, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue, Remaining Performance Obligation, Amount	$ 15,829
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	12 months
Revenue, Remaining Performance Obligation, Percentage	47%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 | Minimum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 | Maximum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	4 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	36 months
Revenue, Remaining Performance Obligation, Percentage	53%

Note 3 - Revenue Recognition -

Note 3 - Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands		Jun. 30, 2022	Dec. 31, 2021
Trade receivables, included in accounts receivable*	[1]	$ 23,756	$ 20,780
Contract assets, included in accounts receivable		726	362
Contract liabilities, included in deferred revenue - short-term		7,368	5,944
Contract liabilities, included in deferred revenue - long-term		$ 8,461	$ 13,059
[1]Exclusive of the BTC of $5,550 and $8,232, respectively, and net of allowances for bad debt of $55 and $67, respectively, as of the dates noted.

Note 3 - Revenue Recognition _2

Note 3 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue from Contract with Customer	$ 117,796	$ 74,118	$ 160,057	$ 115,634
Revenue from non-contractual arrangements	56	56	111	111
Bill and Hold Revenue [Member]
Revenue from Contract with Customer	7,971	7,878	17,247	15,427
Non-bill and Hold Revenue [Member]
Revenue from Contract with Customer	109,825	66,240	142,810	100,207
Short-Term Contract with Customer [Member]
Revenue from Contract with Customer	6,148	5,771	16,290	10,877
Long-Term Contract with Customer [Member]
Revenue from Contract with Customer	$ 111,592	$ 68,291	$ 143,656	$ 104,646

Note 4 - Inventory (Details Tex

Note 4 - Inventory (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Effect of LIFO Inventory Liquidation on Income	$ 2,124	$ 0

Note 4 - Inventory - Carrying V

Note 4 - Inventory - Carrying Values of Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Finished goods	$ 22,435	$ 12,132
Work in process	942	462
Raw materials and supplies	28,822	30,117
Inventory, gross	52,200	42,711
LIFO reserve	(20,616)	(15,791)
Total inventory	$ 31,584	$ 26,920

Note 5 - Derivative Instrumen_3

Note 5 - Derivative Instruments (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net, Total	$ (17,476)	$ (5,405)	$ (26,605)	$ (8,029)
Estimate of Fair Value Measurement [Member] | Commodity Contract [Member]
Inventory Position Estimated Market Value	5,800		5,800
Other Current Assets [Member]
Margin Deposit Assets	$ 1,301		$ 1,301		$ 1,684

Note 5 - Derivative Instrumen_4

Note 5 - Derivative Instruments - Carrying Value of Derivative Instruments (Details) - Future [Member] Pure in Thousands, $ in Thousands	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Regulated fixed price future commitments, included in other current assets (in thousand barrels)	190	142
Regulated fixed price future commitments, included in other current assets (in thousand barrels)	$ 1,902	$ (485)

Note 6 - Marketable Securities

Note 6 - Marketable Securities (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Marketable Securities, Total	$ 39,426		$ 39,426		$ 47,109
Debt Securities, Available-for-Sale, Total	3,754		3,754		3,902
Debt Securities, Available-for-Sale, Unrealized Gain (Loss), Total			77		$ 226
Equity Securities, FV-NI, Unrealized Gain (Loss), Total	$ (3,239)	$ (1,543)	(7,339)	$ (222)
Debt Securities, Available-for-Sale, Realized Gain (Loss), Total			(335)	0
Proceeds from Sale and Maturity of Debt Securities, Available-for-Sale, Total			$ 0	$ 0

Note 7 - Fair Value Measureme_3

Note 7 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Trust preferred stock	$ 3,754	$ 3,902
Fair Value, Recurring [Member]
Derivative instruments	1,902	(485)
Preferred stock and other equity instruments	35,672	43,288
Trust preferred stock	3,754	3,902
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Derivative instruments	1,902	(485)
Preferred stock and other equity instruments	35,672	43,288
Trust preferred stock	3,754	3,902
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Derivative instruments	0	0
Preferred stock and other equity instruments	0	0
Trust preferred stock	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Derivative instruments	0	0
Preferred stock and other equity instruments	0	0
Trust preferred stock	$ 0	$ 0

Note 8 - Accrued Expenses and_3

Note 8 - Accrued Expenses and Other Current Liabilities - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accrued employee liabilities	$ 3,208	$ 3,347
Accrued property, franchise, motor fuel and other taxes	1,210	1,912
Other	512	178
Total	5,422	6,081
Other Current Liabilities [Member]
Lease liability, current	$ 492	$ 644

Note 9 - Borrowings (Details Te

Note 9 - Borrowings (Details Textual) - Regions Bank and PNC Bank N.A. [Member] - Revolving Credit Facility [Member] - USD ($) $ in Thousands	Mar. 30, 2020	Jun. 30, 2022	Dec. 31, 2021
Line of Credit Facility, Expiration Period (Year)	5 years
Line of Credit Facility, Maximum Borrowing Capacity	$ 100,000
Line of Credit Facility Sublimit for Letters of Credit	30,000
Line of Credit Facility Swingline Loans	15,000
Line of Credit Facility, Increase (Decrease) in Maximum Borrowing Amount	$ 65,000
Debt Instrument, Increase (Decrease) in Stated Interest Rate	(0.25%)
Long-term Line of Credit, Total		$ 0	$ 0

Note 9 - Borrowings - Leverage

Note 9 - Borrowings - Leverage Ratio (Details)	6 Months Ended
	Jun. 30, 2022
Leverage Ratio1 [Member]
Commitment Fee	0.15%
Leverage Ratio1 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Spread on variable rate	1%
Leverage Ratio1 [Member] | Base Rate [Member]
Spread on variable rate	0%
Leverage Ratio1 [Member] | Maximum [Member]
Leverage ratio	1
Leverage Ratio 2 [Member]
Commitment Fee	0.15%
Leverage Ratio 2 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Spread on variable rate	1.25%
Leverage Ratio 2 [Member] | Base Rate [Member]
Spread on variable rate	0.25%
Leverage Ratio 2 [Member] | Maximum [Member]
Leverage ratio	1.50
Leverage Ratio 2 [Member] | Minimum [Member]
Leverage ratio	1
Leverage Ratio 3 [Member]
Commitment Fee	0.20%
Leverage Ratio 3 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Spread on variable rate	1.50%
Leverage Ratio 3 [Member] | Base Rate [Member]
Spread on variable rate	0.50%
Leverage Ratio 3 [Member] | Maximum [Member]
Leverage ratio	2
Leverage Ratio 3 [Member] | Minimum [Member]
Leverage ratio	1.50
Leverage Ratio 4 [Member]
Commitment Fee	0.20%
Leverage Ratio 4 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Spread on variable rate	1.75%
Leverage Ratio 4 [Member] | Base Rate [Member]
Spread on variable rate	0.75%
Leverage Ratio 4 [Member] | Maximum [Member]
Leverage ratio	2.50
Leverage Ratio 4 [Member] | Minimum [Member]
Leverage ratio	2
Leverage Ratio 5 [Member]
Commitment Fee	0.25%
Leverage Ratio 5 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Spread on variable rate	2%
Leverage Ratio 5 [Member] | Base Rate [Member]
Spread on variable rate	1%
Leverage Ratio 5 [Member] | Minimum [Member]
Leverage ratio	2.50

Note 10 - Income Tax Provisio_2

Note 10 - Income Tax Provision - Summary of Provisions for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income tax benefit	$ (938)	$ (4,469)	$ (1,642)	$ (8,856)
Effective tax rate	23.20%	452.30%	9.60%	62.60%

Note 11 - Earnings Per Share (D

Note 11 - Earnings Per Share (Details Textual) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	12,000	11,905	24,000	33,905

Note 11 - Earnings Per Share -

Note 11 - Earnings Per Share - Computation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Net loss	$ (3,104)	$ (12,398)	$ 3,481	$ (8,773)	$ (15,502)	$ (5,292)
Weighted average shares outstanding – basic (in shares)	43,763,243		43,754,232		43,763,243	43,748,768
Stock options and other awards (in shares)	0		190		0	0
Weighted average shares outstanding – diluted (in shares)	43,763,243		43,754,422		43,763,243	43,748,768
Basic (loss) earnings per share (in dollars per share)	$ (0.07)		$ 0.08		$ (0.35)	$ (0.12)
Diluted (loss) earnings per share (in dollars per share)	$ (0.07)		$ 0.08		$ (0.35)	$ (0.12)

Note 13 - Segment Information_2

Note 13 - Segment Information (Details Textual)	6 Months Ended
	Jun. 30, 2022
Number of Reportable Segments	2
Chemicals [Member]
Number of Reportable Segments	2

Note 13 - Segment Information -

Note 13 - Segment Information - Summary of Business by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue from Contract with Customer	$ 117,796	$ 74,118	$ 160,057	$ 115,634
Total gross (loss) profit	977	(43)	(6,178)	(10,779)
Operating Segments [Member] | Chemicals [Member]
Revenue from Contract with Customer	18,194	15,547	39,755	31,657
Total gross (loss) profit	4,196	4,285	9,614	2,984
Operating Segments [Member] | Chemicals [Member] | Custom Chemicals [Member]
Revenue from Contract with Customer	12,266	12,260	27,981	22,935
Operating Segments [Member] | Chemicals [Member] | Performance Chemicals [Member]
Revenue from Contract with Customer	5,928	3,287	11,774	8,722
Operating Segments [Member] | Biofuels [Member]
Revenue from Contract with Customer	99,602	58,571	120,302	83,977
Total gross (loss) profit	$ (3,219)	$ (4,328)	$ (15,792)	$ (13,763)