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TheStreet Open House

Green Plains Renewable Energy's CEO Discusses Q3 2011 Results - Earnings Conference Call

We have built a foundation of our business on risk management and operational excellence, while operating our facilities in a safe environment. It is our belief that the solid base we have constructed will allow us to sustain our business model for the long term, and it gives us confidence to continue to grow as opportunities come along.

Now I’ll turn the call over to Jerry to review our financials in more detail, and then I’ll come back and cover industry topics, the ethanol margin environment, and our current outlook for the company.

Jerry Peters

Thanks Todd; good morning everyone. Looking at the consolidated income statement for Q3 2011, our revenues were $957 million for the quarter, up 93% when compared to the comparable quarter in 2010. The increase was mainly due to an increase of ethanol we produced at our own plants, which was $56 million gallons higher than last year; as well as an overall increase in commodity prices. We acquired the Lakota and Riga plants in October of last year, and the Otter Tail plant in March of 2011, which accounts for most of the volume increase between the periods. Corn oil production contributed $15.5 million in revenues in Q3, based on 32.7 million pounds of production.

Read the rest of this transcript for free on seekingalpha.com

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