Pacific Ethanol Reports Third Quarter 2018 Results

In California, Pacific Ethanol, Inc., a leading producer and marketer of low-carbon renewable fuels and high-quality alcohol products, reported its financial results for the three and nine months ended September 30, 2018 which included an increase in cash and cash equivalents over 2017 but a decline net sales from $445.4 million to $370.4 million for the three months ending in September 30, 2018.

Neil Koehler, Pacific Ethanol’s president and CEO, stated: “We are encouraged by President Trump’s direction to the Environmental Protection Agency to extend E15 availability year-round, nationwide, as this creates a significant growth opportunity for the ethanol industry. The compelling cost, octane and carbon advantages of ethanol provide strong incentives for both increased demand from higher blends and exports. This will tighten existing supply and demand balances and improve production margins. In the current challenging market environment, we are supported by a solid balance sheet and a continued focus on product diversification, cost reductions and carbon advantages.”