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Nov. 30, 2015, 3:28 PM
- Biofuel names react favorably and refiners negatively to just-released EPA biofuel targets that come in above those proposed by the agency in May.
- Fuel suppliers will be required to mix 16.93B gallons of corn-based ethanol and other renewable fuels into gasoline this year and 18.11B gallons next year, according to the newest EPA targets.
- The final 2016 standard for advanced biofuel is nearly 1B gallons, or 35% higher than actual 2014 volumes.
- Biofuel names include: PEIX +17.7%, REGI +8.1%, AMRS +7%, GEVO +4.9%, SZYM +2.5%, GPRE +6.2%, REX +3.2%, ADM flat.
- Refiners are pulling back: VLO -0.9%, TSO -1.5%, HFC -2.6%, MPC -0.3%, PSX -0.9%, WNR -0.7%, CLMT -2.6%.
Nov. 4, 2015, 4:11 PM
- Pacific Ethanol (NASDAQ:PEIX): Q3 EPS of -$0.18 misses by $0.10.
- Revenue of $380.69M (+38.1% Y/Y) beats by $14.39M.
- Shares +0.9%.
Nov. 3, 2015, 5:35 PM
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Jul. 29, 2015, 4:16 PM
- Pacific Ethanol (NASDAQ:PEIX): Q2 EPS of $0.03 misses by $0.04.
- Revenue of $227.6M (-29.1% Y/Y) misses by $36.67M.
- Shares -1.9%.
Jul. 14, 2015, 2:41 AM
- As U.S. demand remains plagued by political uncertainty, Valero Energy (NYSE:VLO) is preparing to sell ethanol for export for the first time.
- The move will pit the company against Archer Daniels Midland (NYSE:ADM), privately-held Marquis Energy, and Pacific Ethanol (NASDAQ:PEIX).
- For now, Valero will sell the material on a freight-on-board basis for shipment overseas, although it eventually plans to sell its output and third-party production directly to buyers.
May 29, 2015, 11:15 AM
- Ethanol companies rise while refiners are off session highs after the EPA announces its renewables fuels mandate.
- The EPA proposes requiring 15.93B gallons of total renewable fuel in 2014, 16.3B gallons in 2015, and 17.4B gallons in 2016, but the proposal for the total renewable fuel requirement falls short of levels Congress mandated, which were 20.5B gallons in 2015 and 22.5B gallons in 2016.
- Also, the EPA cuts 2016 corn-ethanol quota to 14B gallons; U.S. law required 15B gallons of ethanol for 2016.
- Ethanol exposed companies are mostly higher: ADM +0.7%, GPRE +4.2%, PEIX +4.1%, REX +1%, DAR +2%, CZZ -2.2%.
- Among refiners: HFC +0.3%, TSO +1.3%, VLO +0.8%, WNR +1.9%, PBF -1%.
- Biofuel related stocks: GEVO -8.3%, SZYM -2.7%, CDTI -1%, REGI -0.7%.
May 11, 2015, 4:11 PM
- Pacific Ethanol (NASDAQ:PEIX): Q1 EPS of -$0.19 misses by $0.11.
- Revenue of $206.18M (-19.0% Y/Y) beats by $3.78M.
May 10, 2015, 5:35 PM
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Mar. 5, 2015, 12:45 PM
Mar. 5, 2015, 9:15 AM
Mar. 4, 2015, 6:58 PM
- Pacific Ethanol (NASDAQ:PEIX) +11.6% AH after Q4 earnings routed analyst expectations and revenues jumped 19% Y/Y and also beat estimates.
- PEIX's ethanol production gallons sold in Q4 totaled 50.4M, up +24% Y/Y from 40.5M gallons, while third-party gallons sold totaled 84.2M, up 26% from 66.5M; however, the average sales price in the quarter fell to $2.15/gal from $2.36/gal in the same quarter last year.
- Q4 gross profit was $18.4M vs. $21.6M in the year-ago quarter, which the company says was due to particularly strong production margins in Q4 2013.
- Expects to complete its acquisition of Aventine this year to become the fifth-largest ethanol producer and marketer in the U.S.
Mar. 4, 2015, 4:07 PM
- Pacific Ethanol (NASDAQ:PEIX): Q4 EPS of $0.41 beats by $0.26.
- Revenue of $256.2M (+19.0% Y/Y) beats by $9.83M.
- Shares +7.2%.
Mar. 3, 2015, 5:35 PM
Jan. 8, 2015, 3:58 PM
- Pacific Ethanol (PEIX -0.8%) is reiterated with a Buy rating and $16 price target at Roth Capital, which sees the Aventine acquisition as positive for PEIX shareholders, who will retain ~58% ownership in the public company with PEIX contributing 39% of the combined plant capacity.
- Roth says PEIX management confirmed in the recent conference call discussing the deal that the Canton plant is included in the transaction but is not currently operating, and could require significant capital to successfully restart.
Jan. 6, 2015, 12:45 PM
Jan. 5, 2015, 6:43 PM
- Crude oil's latest skid added more pressure on shares of ethanol producers today, reflecting concerns that cheaper gasoline prices could further depress ethanol prices following last year's big profits.
- Archer Daniels Midland (NYSE:ADM), which maintains the largest U.S. ethanol production capacity, tumbled 3.5%; Green Plains (NASDAQ:GPRE), whose plants boast production capacity of ~1B gal./year of ethanol, plunged 10.2%; and Pacific Ethanol (NASDAQ:PEIX), which just last week added to its bet on ethanol by acquiring a rival, fell 7.7%.
- Falling profit margins in the U.S. ethanol industry may cause some companies to cut production in 2015, yet some observers think ethanol demand may remain steady or even rise if cheap gasoline spurs U.S. motorists to drive more, easing the hit to earnings.
- Count Roth Capital in the latter camp, as the firm awarded Buy ratings to GPRE and PEIX (I, II), seeing incrementally improving demand on top of an already tight supply-demand balance as supporting an improving profit outlook.
Pacific Ethanol Inc is engaged in producing and marketing low-carbon renewable fuels in the Western United States. It also sells ethanol co-products, including wet distillers grain, a nutritious animal feed, and corn oil.
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