For the full year Pacific Ethanol posted EPS of $2.64 on revenues of $1.11 billion compared with EPS of $0.16 and revenues of $908 million in 2013. Analysts were looking for $2.57 in EPS on revenues of $1.1 billion.
Quarterly net sales were up 19% which the company attributed to an increase in total gallons sold, slightly offset by a lower average selling price. Gross profit slipped from $21.6 million a year ago to $18.4 million which the company attributed to unusually high margins last year. Operating income fell from $17.2 million in the year ago quarter to $13.6 million. On a GAAP basis, quarterly EPS totaled $0.50.
The company did not offer guidance but consensus estimates for the first quarter call for EPS of $0.26 on revenues of $243.4 million. For the full-year analysts expect EPS of $1.59 on revenues of $1.18 billion.
Ethanol production gallons sold in the fourth quarter totaled 50.4 million, up from 40.5 million in the year-ago quarter. Third-party gallons sold totaled 84.2 million, up from 66.5 million a year ago. The bad news is that the sales price fell from $2.36 a gallon to $2.15 a gallon. The average price per gallon of ethanol for the year came to $2.48, down from last year’s average price of $2.59.
Pacific Ethanol expects to complete its acquisition of Aventine this year to become the country’s fifth largest ethanol producer and marketer.
Pacific Ethanol’s shares traded up more than 10% at $10.20 in after-hours trading, in a 52-week range of $7.51 to $23.97. The consensus price target for the shares was $18.88 before today’s report.
ALSO READ: Cities with the Highest (and Lowest) Unemployment
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
