Renewable Energy Group (REGI) Misses Q1 EPS by 40c, Slight Beat on Revenues

Renewable Energy Group (NASDAQ: REGI) reported Q1 EPS of ($1.11), $0.40 worse than the analyst estimate of ($0.71). Revenue for the quarter came in at $478.2 million versus the consensus estimate of $477.34 million.

• 162 million gallons sold
• 117 million gallons produced
• Revenues of $478.2 million
• Net loss from continuing operations of $41.4 million, or $1.11 per diluted share
• Net loss from discontinued operations of $2.0 million, or $0.05 per diluted share
• Adjusted EBITDA of negative $27.4 million, excluding the potential benefit of a retroactive reinstatement of the federal Biodiesel Mixture Excise Tax Credit (BTC)

"We continued our underlying performance improvement trajectory in the first quarter, increasing both sales and production volumes substantially despite severe weather conditions," said Cynthia (CJ) Warner, President and Chief Executive Officer. "As we noted in early March when we provided guidance for the first quarter, the margin environment was highly challenging, largely due to lower RIN prices."

Warner continued, "There is broad confidence across all sectors that Congress will reinstate the BTC for both 2018 and 2019, and we estimate that would add approximately $55.0 million to our first quarter net income and Adjusted EBITDA."

For earnings history and earnings-related data on Renewable Energy Group (REGI) click here.

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