Gevo (NASDAQ: GEVO) reported Q2 EPS of ($1.36), $0.55 worse than the analyst estimate of ($0.81). Revenue for the quarter came in at $8.9 million versus the consensus estimate of $10.5 million.

"Our balance sheet is in its strongest position since the end of 2013 and this will support us in meeting the important milestones that we established earlier in the year, namely signing our first binding license agreement, securing ASTM certification for our alcohol-to-jet fuel and developing further strategic partnerships to propel our alcohol-to-hydrocarbons business," said Dr. Patrick Gruber, Gevo's Chief Executive Officer. "These are all targets that we still expect to achieve in 2015.

"We are also excited by the progress we are beginning to make in selling isobutanol as a gasoline blendstock into specialty markets such as for marine and off-road applications. The National Marine Manufacturers Association's endorsement of isobutanol for use in the marine fuel markets has given a boost to Gevo's efforts to penetrate the marina market here in the United States, which we estimate has a total addressable market of $1 billion. In addition, we are really excited to have announced the first U.S. service station to sell gasoline blended with Gevo's renewable isobutanol at the pump. The Express Lube in Frederickson, Texas, is focused on selling to owners of boats, outdoor equipment and off-road vehicles, all very important markets to Gevo," added Gruber.

"Lastly, I am pleased that the cost-cutting initiatives that we took in the first quarter are bearing fruit. Our monthly EBITDA burn rate (excluding stock-based compensation) was $1.5 million in the second quarter, which is at the low end of the range we targeted when we undertook those initiatives in January," added Gruber.

For earnings history and earnings-related data on Gevo (GEVO) click here.