Green Plains sinks into USD-1m net loss in Q3 2012
Oct 31, 2012 - US ethanol producer Green Plains Renewable Energy Inc (NASDAQ:GPRE) said Tuesday it had swung into a net loss of USD 1 million (EUR 772,000) in the third quarter from a net profit of USD 12.4 million last year.
The company lost USD 0.03 per share, compared to earnings per share of USD 0.32 for the third quarter of 2011. The loss was attributed to continuing adverse market conditions that led to tighter margins.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at USD 21.7 million, nearly half of the USD 41.6 million recorded in the third quarter of 2011.
Revenues for the three months to September 30 stood at USD 947.4 million, slightly below USD 957 million a year ago.
As a result of disciplined approach to margin management and the performance of its non-ethanol segments, the company expects to return to profitability in the fourth quarter, even before taking into account the gain it expects to make on the recent disposal of its agribusiness assets.