Pacific Ethanol (PEIX) Tops Q4 EPS by 9c
March 1, 2017 4:16 PM
Pacific Ethanol (NASDAQ: PEIX) reported Q4 EPS of $0.30, $0.09 better than the analyst estimate of $0.21. Revenue for the quarter came in at $441.7 million versus the consensus estimate of $421.58 million.
Financial Results for the Three Months Ended December 31, 2016 Compared to 2015:
Net sales were $441.7 million, compared to $376.8 million. The increase was attributable to increases in gallons sold from both production and third party sales, as well as a higher average ethanol sales price per gallon.
Gross profit was $26.7 million, compared $9.5 million. The improvement reflects stronger production margins in the fourth quarter of 2016.
Selling, general and administrative ("SG&A") expenses were $7.9 million, compared to $7.1 million.
Operating income was $18.8 million, compared to $0.5 million.
Net income available to common stockholders was $12.6 million, or $0.30 per share, compared to a net loss of $1.1 million, or $0.03 per share.
Adjusted EBITDA was $27.4 million, compared to $11.0 million.
Cash and cash equivalents were $68.6 million at December 31, 2016, compared to $52.7 million at December 31, 2015.