Aemetis Q2 revenue $45.1M vs $65.9M YoY; net loss widens to $25.3M

AEMETIS, INC

2023-Q2 EPS reported -$1.40 revenue$47,263,000

Revenue of $45.1M, down 31.6% YoY; India Biodiesel contributed $33.6M, Keyes ethanol restarted in late May.
Net loss of $25.3M vs $209K loss in Q2 2022 (prior year included $14.2M USDA grant and $1.4M litigation reserve release).
Gross profit improved to $2.0M from a $0.2M gross loss; delivered corn price fell to $6.84/bushel from $10.21.
Adjusted EBITDA negative $4.3M; India plant contributed $5.3M of Adjusted EBITDA offset by Keyes restart costs.
Capital investments $9.8M in H1 2023, including $7.8M for biogas digesters and a 40-mile pipeline.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AEMETIS, INC reported the six months ended June 30, 2023 results: revenue $47.3 million, net income $51.7 million.

Period: the six months ended June 30, 2023
Revenue: $47.3 million
Net income: $51.7 million
Result: reported results

Exact text from the filing

Financial Results for the Six Months Ended June 30, 2023 Revenues were $47.3 million for the first half of 2023, compared to $118.0 million for the first half of 2022, primarily generated from India Biofuels supplying fuel under contracts with India government oil marketing companies and offset by the extended maintenance cycle which allowed for the acceleration of the implementation of several important ethanol plant efficiency upgrades at the Keyes plant during the first half of 2023. Gross profit for the first half of 2023 was $661 thousand, a significant improvement compared to a gross loss of $3.3 million during the first half of 2022. Selling, general and administrative expenses were $20.5 million during the first half of 2023, compared to $14.7 million during the first half of 2022, including $4.0 million of fixed costs of goods sold charged to selling, general and administrative during the Keyes plant maintenance period. Operating loss was $19.9 million for the first half of 20

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AEMETIS, INC reported the three months ended June 30, 2023 results: revenue $45.1 million, net income $25.3 million.

Period: the three months ended June 30, 2023
Revenue: $45.1 million
Net income: $25.3 million
Result: reported results

Exact text from the filing

Financial Results for the Three Months Ended June 30, 2023 Revenues during the second quarter of 2023 were $45.1 million compared to $65.9 million for the second quarter of 2022, principally driven by $33.6 million of sales from India Biodiesel. Our California Ethanol operations restarted after an extended maintenance cycle which allowed for the acceleration of the implementation of several important ethanol plant efficiency upgrades, allowing for the generation of $11.3 million of revenues during late May and June. Delivered corn price decreased significantly from an average price of $10.21 per bushel during the second quarter of 2022 to $6.84 per bushel during the second quarter of 2023. Gross profit for the second quarter of 2023 was $2.0 million, a significant improvement compared to a $0.2 million gross loss during the second quarter of 2022. Selling, general and administrative expenses were $9.7 million during the second quarter of 2023, compared to $7.4 million during the second

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Source: SEC EDGAR

accession 0001437749-23-021759

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