On Aug. 8, Pacific Ethanol
- Revenues surged drastically, the result of an increase in volumes by 122% to 43.9 million gallons of ethanol.
- The company's acquisition of a 42% interest in Front Range Energy is in line with its strategic vision of buying local plants to cut the transportation costs of supplying ethanol.
- Management thinks recent regulations enacted in both California and Oregon will create an additional 1 billion gallons of demand for ethanol.
-
Motley Fool CAPS participants seem skeptical about this industry. Pacific Ethanol, along with other players Aventine Renewable Energy Holdings
(NYSE:AVR) and Green Plains Renewable Energy(NASDAQ:GPRE) , all have a Motley Fool CAPS rating of one star (out of a possible five).
(Figures in millions, except per-share data.)
Income Statement Highlights
|
Q2 2007 |
Q2 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$113.8 |
$46.5 |
144.9% |
|
Net Profit |
$2.2 |
($0.2) |
N/A |
|
EPS |
$0.03 |
($2.56) |
N/A |
|
Diluted Shares |
40.3 |
33.2 |
21.2% |
Get back to basics with the income statement.
Margin Checkup
|
Q2 2007 |
Q2 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
9.8% |
7.1% |
2.7 |
|
Operating Margin |
2.5% |
(3.1%) |
5.6 |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q2 2007 |
Q2 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$50.4 |
$140.0 |
(64%) |
|
Accounts Rec. |
$19.2 |
$12.8 |
50.3% |
|
Inventory |
$19.8 |
$3.0 |
565.6% |
|
Liabilities |
Q2 2007 |
Q2 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$11.8 |
$10.9 |
7.9% |
|
Long-Term Debt |
$104.2 |
$0.0 |
N/A |
The balance sheet reflects the company's health.
Related Foolishness:
- Biofuels Buzz: Buyouts, Bovines, and Brits
- Ethanol's Production Problem
- Quick Take: Lyondell Goes Dutch
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