This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Green Plains Reports Second Quarter 2013 Financial Results

Results for the Second Quarter of 2013

  • Net income of $6.0 million
  • Earnings per diluted share of $0.19

OMAHA, Neb., July 30, 2013 (GLOBE NEWSWIRE) -- Green Plains Renewable Energy, Inc. (Nasdaq:GPRE) announced today its financial results for the second quarter ended June 30, 2013. Net income for the quarter was $6.0 million, or $0.19 per diluted share, compared to a net loss of ($7.6) million, or ($0.25) per diluted share, for the same period in 2012. Revenues were $804.7 million for the second quarter of 2013 compared to $870.4 million for the same period in 2012.

"We are pleased to report another quarter of profitability with each of our business segments providing a positive contribution," stated Todd Becker, President and Chief Executive Officer. "Our ethanol production segment capitalized on an improved margin environment while each of our non-ethanol businesses delivered a solid performance as well. As a result, operating income improved nearly $20 million over last year's second quarter."

Green Plains' ethanol production segment produced and sold approximately 172 million gallons of ethanol, or approximately 93 percent of the Company's production capacity. Non-ethanol operating income, from the corn oil production, agribusiness, and marketing and distribution segments, was $17.3 million in the second quarter of 2013 compared to $14.6 million for the same period in 2012. For the first six months of 2013, non-ethanol operating income totaled $38.4 million.

"While ethanol margins have been steadily improving, the third quarter remains heavily dependent on the spot market. We anticipate a better second half in comparison to the first half of 2013 based on the current market structure," commented Becker.

"Our balance sheet remains strong with $227 million in cash, even after we paid off $23 million of our term debt in the second quarter and closed on the purchase of an ethanol plant in Atkinson, Nebraska. We continue to pay down debt which we believe will further position us to grow long-term shareholder value," said Becker.

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
SYM TRADE IT LAST %CHG

Markets

DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs