Arkansas-based Company in Four-Way Tie for Small Caps Category ($250M-$1B)
Batesville, AR -- (SBWIRE) -- 05/04/2016 -- Each year, Forbes releases a list of the most trustworthy companies, determining their trustworthiness on their accounting and governance practices. FutureFuel Corporation, based in Batesville, Arkansas, not only made the list, but did so while achieving the highest rating in its category. The biofuel company was part of a four-way tie for highest Aggressive Accounting and Governance Risk, or AGR. Other companies sharing the top spot, whom all received an AGR of 99: Computer Programs & Systems, Gorman-Rupp Co., and M/I Homes.
The selection is based on MSCI ESG Research's evaluation of the accounting and governance practices of publicly traded non-financial American companies. Companies were divided into three categories:
- Large Cap companies – market caps of $5 billion or above
- Mid Cap companies – market caps between $1 and $5 billion
- Small Cap companies – market caps between $250 million and $1 billion
According to Forbes, the companies on the list have the strongest AGRs—"Aggressive Accounting and Governance Risk"—the composite scores by which organizations are judged. Factors considered include high risk behaviors like regulatory actions, amended filings, revenue and expense recognition methods, and bankruptcy risk. Companies are scored on a 1 to 100 point scale, with 72 being the lowest score to crack this year's list.
"It is an honor to be recognized as a Top 100 Most Trustworthy Company in acknowledgement of our efforts on financial reporting and corporate governance," stated CFO Rose Sparks. "We pledge to continue our commitment for the benefit of our current and future stakeholders."
About FutureFuel Corp.
FutureFuel Corp. was created in 2005 as a special purpose acquisition vehicle to acquire companies that they believe can make a notable impact in the biofuel and fuel industries. In the summer of 2006, they found just that in FutureFuel Chemical Company (formerly named "Eastman SE, Inc.") near Batesville, Arkansas. On October 31, 2006 they completed the acquisition and since then have worked to become a leader in the U.S. biofuel industry, while maintaining the facility's status as a world-class specialty chemical manufacturer.