Pacific Ethanol: 2Q Earnings Snapshot
Aug. 08, 2018
SACRAMENTO, Calif. (AP) _ Pacific Ethanol Inc. (PEIX) on Wednesday reported a loss of $13.2 million in its second quarter.
On a per-share basis, the Sacramento, California-based company said it had a loss of 31 cents.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share.
The ethanol producer posted revenue of $410.5 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $434.7 million.
In the final minutes of trading on Wednesday, the company's shares hit $2.65. A year ago, they were trading at $5.35.