Categories Earnings, Industrials

Gevo (NASDAQ: GEVO): Q3 2019 Earnings Snapshot

— Gevo Inc. (NASDAQ: GEVO) reported a third-quarter 2019 adjusted loss of $0.66 per share versus a loss of $0.55 per share expected.

— Total revenues fell by 29% to $6.11 million versus $4.77 million expected. The results were hurt by lower ethanol sales.

Earnings Update by AlphaStreet

— Revenues derived at the Luverne Facility related to ethanol sales and related products fell by 31% due to reduced production of ethanol and distiller grains as a result of unfavorable commodity environment.

— Hydrocarbon revenues increased by 9% helped by higher production volumes at the South Hampton Resources Inc. facility in Silsbee, Texas.

— Research and development expenses declined by 4% due primarily to a decrease in costs associated with its South Hampton Facility partially offset by an increase in personnel and consultant expenses.

— Gevo believes it can become profitable, or close to it, as a company by the end of 2021 if Gevo can successfully improve the carbon footprint of its Luverne Facility.

— Gevo expects one or more of its renewable natural gas projects that are under development to come on-line by the end of 2020 or early 2021, adding to its EBITDA in 2021.

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