Gevo falls after Q3 revenue miss, Luverne outlook

Published 11/14/2016, 05:32 PM
Gevo falls after Q3 revenue miss, Luverne outlook
GEVO
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  • Gevo (NASDAQ:GEVO) -7.4% AH after reporting in-line Q3 earnings but lower than expected revenues and disappointing production guidance for its Luverne plant in Minnesota.
  • Gevo says it expects to produce ~500K gallons of isobutanol at Luverne for 2016, at the low end of company guidance for 500K-650K gallons, and optimization plans may result in needing to add more equipment, systems or processes in the future at the plant.
  • Gevo expects that by year-end 2016 it will have the capability for a production run rate equivalent to 1.5M gal/year at Luverne, although it sees a lower actual run rate while it scales up and tests new process improvements to further reduce costs and optimize production.

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