Green Plains swings to loss for Q3, citing ethanol price weakness

November 1, 2012 |

In Nebraska, Green Plains Renewable Energy, Inc. announced a Q3 net loss attributable to Green Plains for the quarter was ($1.0) million, compared to net income of $12.4 million, for the same period in 2011. Revenues were $947.4 million for the three months ended September 30, 2012 compared to $957.0 million for the same period in 2011.

“Our platform performed well in the third quarter considering the difficult margin environment in the ethanol industry,” stated Todd Becker, President and Chief Executive Officer. “We achieved a record quarter for non-ethanol operating income of $20.8 million which helped offset the weakness in the ethanol segment. We expect to return to profitability in the fourth quarter.”

Revenues for the nine-month period ended September 30, 2012 were $2.6 billion, down slightly from the same period in 2011. Net loss attributable to Green Plains for the nine months ended September 30, 2012 was ($21.2) million, or ($0.70) per diluted share, compared to net income of $25.2 million, or $0.66 per diluted share, for the same period in 2011.

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