Aemetis Q1 2023 Earnings Report
Key Takeaways
Aemetis reported a decrease in revenue to $2.2 million due to the idling of the Keyes plant and an extended maintenance cycle. The company focused on energy efficiency upgrades and the commissioning of dairy digesters and RNG facilities. Net loss was $26.4 million, impacted by increased expenses and accretion of preference payments.
Revenues decreased to $2.2 million due to idling the Keyes plant for maintenance and upgrades.
Dairy Natural Gas segment produced 21,300 MMBtu from 6 dairy digesters.
India Biodiesel recognized $1.5 million of revenue from private customers.
Net loss was $26.4 million, compared to $18.3 million for the same period in 2022.
Aemetis
Aemetis
Forward Guidance
With natural gas now at a reasonable pricing range and the maintenance turn-around complete, Aemetis expects to restart the Keyes plant during the second quarter of 2023.