Pacific Ethanol, Inc. (NASDAQ: PEIX) was a soaring eagle today ahead of earnings with a 16% gain to $1.61. It is giving it all back now. The ethanol player turned in its fourth quarter earnings report showing $241.8 million in revenues (representing about 80% in total sales growth) and it reported a loss of -$0.03 in earnings per share. Total gallons sold (of ethanol) were 116.3 million and that represents growth of 53%.
The headwinds were lower gasoline demand (causing lower ethanol demand) as well as lower ethanol prices and lower ethanol margins.
Operating income was listed as being up to $3.7 million in the quarter and $4.0 million for the year but those figures did have some items in the reported figures.
What is interesting is the reaction. With such a small market cap and small share price, there are hardly an analyst estimates. The 16% gain to $1.61 is now being shown to be a 27% loss in the after-hours to $1.17.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
