Green Plains (GPRE) Misses Q3 EPS by 3c

November 1, 2016 8:39 AM EDT

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Green Plains (NASDAQ: GPRE) reported Q3 EPS of $0.20, $0.03 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $841.9 million versus the consensus estimate of $852.37 million.

“We generated $42 million of segment operating income for the third quarter of 2016, which is our best performance since the end of 2014. Based on current markets, we expect a stronger fourth quarter,” said Todd Becker, president and chief executive officer. “We have grown significantly over the last year as we have increased our ethanol production capacity organically and through acquisitions by nearly 50 percent to approximately 1.5 billion gallons per year, and acquired Fleischmann’s Vinegar Company. We continue to focus on our core competencies as we efficiently integrate these acquisitions and aggressively grow our platform to create long-term shareholder value.”

“We experienced a stable ethanol margin environment in the third quarter as we continued to see strong ethanol demand worldwide driven by increasing consumption of gasoline and broader appetites for an efficient source of octane,” added Becker. “As we continue to expand and diversify our operations, we expect to immediately benefit from the recently acquired businesses.”

For earnings history and earnings-related data on Green Plains (GPRE) click here.

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