Gevo, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023 at 04:20 pm EST
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Gevo, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 4.53 million compared to USD 0.309 million a year ago. Net loss was USD 15.7 million compared to USD 43.79 million a year ago. Basic loss per share from continuing operations was USD 0.07 compared to USD 0.19 a year ago.
For the nine months, sales was USD 12.83 million compared to USD 0.63 million a year ago. Net loss was USD 47.74 million compared to USD 72.62 million a year ago. Basic loss per share from continuing operations was USD 0.2 compared to USD 0.34 a year ago.
Gevo, Inc. is a carbon abatement company focused on transforming renewable energy into energy-dense liquid hydrocarbons that can be used as renewable fuels, such as sustainable aviation fuel. The Company operates in three segments. The Gevo segment is focused on research and development activities related to the production of SAF, commercial opportunities for other renewable hydrocarbon products, such as renewable natural gas, hydrocarbons for gasoline blendstocks and diesel fuel, and plastics, materials, and other chemicals. Gevo segment also develops, maintains, and protects its intellectual property portfolio, provides corporate oversight services, and is responsible for development and construction of its Net-Zero Projects. The Agri-Energy segment is engaged in the operation of its Luverne facility and the development of the production of isobutanol, ethanol and related products. The Renewable Natural Gas segment produces-pipeline quality methane gas captured from dairy cow manure.