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 5.69%.
Gevo, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.45 in the quarter versus EPS of $-0.74 in the year-earlier quarter.
Revenue: Decreased 76.46% to $3.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Gevo, Inc. reported adjusted EPS loss of $0.45 per share. By that measure, the company missed the mean analyst estimate of $-0.40. It beat the average revenue estimate of $900,000.
Quoting Management: “We continue to make progress optimizing our technology and remain on-track to restart isobutanol production at Luverne this year and begin to introduce isobutanol on a commercial basis,” said Patrick Gruber Ph.D., chief executive officer of Gevo. “Our plant modifications have gone well. Our work on reducing and eliminating contaminating bacteria is on track. Our work on the fermentation optimization has made great progress. I look forward to starting up our plant and proving out our GIFT(NYSE:R) system. In this past quarter, our team has managed to maintain focus on the plant re-start, even in the face of the litigation. We are very pleased with the outcome of the litigation regarding U.S. Patent Nos. 7,851,188 ( ’188 Patent) and 7,993,889 ( ’889 Patent). Our legal team, consultants, and Gevo employees have delivered a clear victory. Even better, this victory in defending our freedom to operate was done in an efficient manner: we received a judgment of non-infringement while avoiding the necessity and cost of a trial in the U.S. District Court for the District of Delaware. We have always maintained that we don’t infringe these patents. It is gratifying to see that Butamax and the Court agreed that we don’t infringe.”
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