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Dec 31, 2020
Aemetis Q4 2020 Earnings Report
Reported a decrease in revenue due to delays in India operations and lower ethanol production in North America, resulting in a gross loss. However, SG&A expenses were reduced.
Key Takeaways
Aemetis reported a decrease in revenue for Q4 2020, primarily due to delays in India biodiesel tender process and temporarily lower ethanol production in North America. The company faced a gross loss due to decreased ethanol prices and increased corn costs. Despite challenges, Aemetis focused on carbon intensity reduction projects and made progress towards the Carbon Zero integrated biorefinery.
Revenues for Q4 2020 were $37.3 million, compared to $52.1 million for Q4 2019.
Gross loss for Q4 2020 was $3.4 million, compared to a gross profit of $5.8 million in Q4 2019.
Operating loss was $7.7 million for Q4 2020, compared to operating income of $1.0 million in Q4 2019.
Net loss was $14.6 million for Q4 2020, compared to a net loss of $7.7 million in Q4 2019.
Aemetis
Aemetis
Forward Guidance
Aemetis looks forward to building on the success in 2021 as the company completes additional important milestones in dairy RNG, Renewable Jet and Diesel Fuel, India biodiesel government contracts, and Ethanol margin improvements from carbon intensity reduction, and continue to implement the Five Year Plan.
Positive Outlook
- Completing additional milestones in dairy RNG projects
- Advancing Renewable Jet and Diesel Fuel initiatives
- Fulfilling India biodiesel government contracts
- Improving Ethanol margins through carbon intensity reduction
- Continuing to implement the Five Year Plan