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.
ALERT: Today Could Be Your Best Shot At Early Retirement (Sponsored)
If you want to retire before 65, pay attention. Study after study has shown that the longer you stay invested, the better your chances at an early retirement.
Every day that goes by without saving and investing for tomorrow means more to earn and save later. Don’t waste any more time and get started with Robinhood today. The app makes it easy to buy and sell stocks, mutual funds, trade options, and even cryptocurrencies.
Sign up today — click here to start your journey.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.