Gevo boosts sales in Q2 by nearly 29% on year

In Colorado, Gevo reported that sales of its products increased by 28.9% for the three months ended June 30, 2018 compared to the same period in 2017, primarily due to increased production of ethanol and distiller grains. Gevo continued to benefit from the results of its ongoing efforts to reduce its overall cash burn, as total operating expenses for the three months ended June 30, 2018 declined approximately $0.9 million.

Revenues for the second quarter of 2018 were $9.4 million compared with $7.5 million in the same period in 2017. During the second quarter of 2018, revenues derived at the Luverne Facility related to ethanol sales and related products were $8.8 million, an increase of approximately $2.0 million from the same period in 2017. This was primarily a result of increased ethanol production and distiller grain prices in the second quarter of 2018 versus the same period in 2017.

During the second quarter of 2018, hydrocarbon revenues were $0.6 million, $0.05 million lower than the same period in 2017 primarily as a result of timing differences in shipping. Gevo’s hydrocarbon revenues are comprised of sales of ATJ, isooctane and isooctene.