Biofuel Energy announces $12.4m loss in Q2

August 13, 2012 |

In Colorado, Biofuel Energy has announced a loss of $12.4m on revenues of $122.8m in its Q2 results. Compared to last year, the net loss has increased by 150%. “We continued to face a challenging commodity margin environment, particularly the corn-ethanol crush spread,” said Scott H. Pearce, the Company’s President and Chief Executive Officer.

“The industry continued to overproduce well into the quarter, although we have lately seen some meaningful pull back in production. We again produced fewer gallons year over year as we pared back production to optimize the margin realized. Finally, with respect to the drought, we believe that the crops in the immediate vicinity of our locations are doing quite well in comparison to other regions in the corn belt and we do not anticipate any material interruption of supply.”

Read more here.

Category: Fuels

Thank you for visting the Digest.