Aemetis Inc (AMTX) said before open Thursday that it lost $0.59 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $68.7 million, missing estimates by $6.8 million.
In the same quarter a year ago, the company lost $0.46 per share on revenue of $71.8 million.
The stock is up 1.97% to $4.67 after the report.
The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned Aemetis Inc a Bearish Sentiment Rank from InvestorsObserver.
Aemetis Inc has performed a little below average during the past few months. Before the report, Aemetis Inc received a Long-Term Technical Rank by InvestorsObserver of 45, putting it in the bottom half of stocks. The firm set a 52-week high on July 13, 2023 at $8.99 and set a 52-week low on May 4, 2023 at $1.16.
Aemetis Inc is an international renewable fuel and biochemicals company focused on the production of renewable fuels and chemicals through the acquisition, development and commercialization of technologies that replace traditional petroleum-based products through the conversion of first-generation ethanol and biodiesel plants into advanced biorefineries. It owns and operates an approximately 65 million gallon per year ethanol production facility located in Keyes, California. In addition to low carbon renewable fuel ethanol, the Keyes Plant produces Wet Distillers Grains, Distillers Corn Oil, and Condensed Distillers Solubles, all of which are sold to local dairies and feedlots as animal feed. It operates in the reportable geographic segments of North America and India.
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Aemetis Inc Up 1.97% To $4.67 After Earnings Miss
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