Aemetis Q1 2020 Earnings Report
Key Takeaways
Aemetis reported revenues of $39.5 million and a net loss of $12.1 million for the first quarter of 2020. The company continued to make progress on carbon reduction and revenue expansion projects despite challenges related to Covid-19 restrictions.
Revenues were $39.5 million, compared to $41.9 million for the first quarter of 2019.
North America volume of ethanol sold during the first quarter was 15.7 million gallons at an average price of $1.56 per gallon.
Net loss increased to $12.1 million, compared to net loss of $10.7 million for the first quarter of 2019.
Cash at the end of the first quarter of 2020 was $303 thousand compared to $656 thousand at the close of the fourth quarter of 2019.
Aemetis
Aemetis
Aemetis Revenue by Segment
Forward Guidance
Aemetis is focused on carbon reduction and revenue expansion projects to drive significant revenue increases and positive earnings.
Positive Outlook
- Completed and tested the first two dairy digesters.
- Began constructing the four mile pipeline to connect the two dairies to the Keyes ethanol plant.
- Completed the construction and began commercial operation of the carbon dioxide capture system at our Keyes plant under a long term contract.
- Made progress toward commencing construction of our below zero carbon content California waste wood ethanol biorefinery.
- All of the EB-5 investors in our current offering were granted National Interest Expedite approval to process their applications at the USCIS in approximately 90 days instead of up to three years which has significantly increased the number of interested investors.
Revenue & Expenses
Visualization of income flow from segment revenue to net income