Renewable Energy Group: 3Q Earnings Snapshot
AMES, Iowa (AP) _ Renewable Energy Group Inc. (REGI) on Tuesday reported a third-quarter loss of $15.9 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Ames, Iowa-based company said it had a loss of 41 cents. Losses, adjusted for asset impairment costs and to account for discontinued operations, came to 7 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The biodiesel producer posted revenue of $584.4 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $595.8 million.
Renewable Energy Group shares have declined 33% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $17.19, a decrease of 39% in the last 12 months.