Gevo (NASDAQ: GEVO) reported Q1 EPS of ($0.59), $0.15 worse than the analyst estimate of ($0.44). Revenue for the quarter came in at $3.8 million versus the consensus estimate of $6.3 million.

2020 First Quarter Financial Highlights

• Ended the quarter with cash and cash equivalents of $9.3 million compared to $16.3 as of the end Q4 2019
• Revenue of $3.8 million for the quarter compared to $6.4 million in Q1 2019
• Hydrocarbon revenue decreased to $0.1 million for the quarter compared to $0.7 million in Q1 2019
• Loss from operations of ($8.0) million for the quarter compared to ($5.6) million in Q1 2019
• Non-GAAP cash EBITDA loss1 of ($6.2) million for the quarter compared to ($3.8) million in Q1 2019
• Net loss per share of ($0.64) for the quarter compared to ($0.60) in Q1 2019
• Non-GAAP adjusted net loss per share2 of ($0.59) for the quarter compared to ($0.63) in Q1 2019

Commenting on the first quarter of 2020 and recent corporate events, Dr. Patrick R. Gruber, Gevo’s Chief Executive Officer, said “We are focused on building our business for the long run. We continue to make and sell renewable premium gasoline and jet fuel. We’ve cut expenses, cut the burn. We are pleased to be working with Citigroup on our project financings. We are moving forward, and look forward to completing them. Building these projects off balance sheet, where we take the role of developer, licensor and operator, seems to make sense and is expected, once running, to provide attractive cash flows to Gevo and to project investors. Through the pandemic, we’ve seen green value hold, which is good for our business. We’ve seen interest increase in our fuels not just because they lower greenhouse gas emissions, but because they can help to lower particulate and sulfur pollution too. The air is clearing. That is all about the lack of smog from gasoline. Our technology delivers renewable isooctane for gasoline, not just jet fuel.”

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