Gevo (NASDAQ: GEVO) reported Q3 EPS of ($0.08), $0.02 better than the analyst estimate of ($0.10).

2020 Third Quarter Financial Highlights

• Ended the quarter with cash and cash equivalents of $80.6 million compared to $6.3 as of the end of Q2 2020
• Revenue totaled $0.2 million for the quarter compared to $6.1 million in Q3 2019
• Hydrocarbon revenue decreased to $0.1 million for the quarter compared to $0.6 million in Q3 2019
• Loss from operations of ($6.1) million for the quarter compared to ($8.0) million in Q3 2019
• Non-GAAP cash EBITDA loss1 of ($4.0) million for the quarter compared to ($5.8) million in Q3 2019
• Net loss per share of ($0.09) based on 77,049,896 weighted average shares outstanding for the quarter compared to ($0.66) based on 12,968,265 weighted average shares outstanding for the quarter in Q3 2019
• Non-GAAP adjusted net loss per share2 of ($0.08) based on 77,049,896 weighted average shares outstanding for the quarter compared to ($0.66) based on 12,968,265 weighted average shares outstanding for the quarter in Q3 2019

Commenting on the third quarter of 2020 and recent corporate events, Dr. Patrick R. Gruber, Gevo’s Chief Executive Officer, said, “This past quarter marked a turning point for Gevo. We secured the blockbuster deal with Trafigura, a major energy player. This offtake agreement brought our total off-take tally to about 48MGPY, collectively representing about $1.5 billion of revenue across the life of the contracts. With customers pinned down and enough money in the bank to complete the engineering and project development work needed to bring projects to financial close next year, and because we have several interested project equity investors engaged in detailed due diligence, I believe that our project financing activity with Citigroup is going well, so far. We continue to work on securing more customer agreements and expect to announce one or more in the coming months. Overall, we are progressing well. We need to continue to make progress and keep on track”.

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