Ethanol-Makerâs Sales Slump Shows Why It Wants to Ditch Biofuel
May 04 2021, 10:01 AM
May 03 2021, 11:09 PM
May 04 2021, 10:01 AM
(Bloomberg) Green Plains Inc.âs first-quarter revenue trailed analystsâ estimates after declines in its ethanol business, highlighting volatility thatâs prompting the company to shift away from the biofuel.
(Bloomberg) Green Plains Inc.âs first-quarter revenue trailed analystsâ estimates after declines in its ethanol business, highlighting volatility thatâs prompting the company to shift away from the biofuel.
Revenue fell 13% from a year earlier to $553.6 million, compared with the $625.3 million average of estimates compiled by Bloomberg. Ethanol sales volumes slid 26% from the year-earlier period, in part due to winter weather woes that slowed output throughout the industry.