Gevo, Inc. (NASDAQ:GEVO) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 4.08%.
Gevo, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.35 in the quarter versus EPS of $-0.62 in the year-earlier quarter.
Revenue: Decreased 72.97% to $1.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Gevo, Inc. reported adjusted EPS loss of $0.35 per share. By that measure, the company missed the mean analyst estimate of $-0.34. It beat the average revenue estimate of $0.
Quoting Management: “Resuming production of isobutanol at our Luverne plant and being able to see firsthand the processing advantages from the use of our proprietary Gevo Integrated Fermentation Technology(NYSE:R) (GIFT(R)) system are the most significant events of the second quarter,” said Patrick Gruber Ph.D., chief executive officer of Gevo. “I am pleased to report that our initial single train production runs have shown that our GIFT(NYSE:R) systems work well and that we can manage microbial contamination at the plant. We’ve brought up another million-liter fermenter and GIFT(NYSE:R) system that serves to further validate our technology and plant know-how. We plan to bring the final fermenters and GIFT(NYSE:R) system online at Luverne in the second half of 2013, testing run rates with all the fermenters and GIFT(NYSE:R) systems, then settling into an ongoing production mode, and ramping up production and sales over the balance of 2013 and into 2014. The task at hand is to bring the whole plant up and begin supplying customers on a reliable basis.”
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