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People & Business :: Earnings/Finance
Gevo narrows loss; Luverne plant to resume operations
9:59 AM MDT | March 19, 2013 | —Rebecca Coons
Cost-cutting helped biobased isobutanol producer Gevo (Englewood, CO) narrow its fourth-quarter loss and beat analysts’ estimates despite a production setback at its first commercial-scale asset. The company reports a fourth-quarter net loss of $13.1 million (34 cts/share) compared with a net loss of $14.2 million (54 cts/share) in the year-ago quarter. Analysts expected a loss of 44 cts/share, as reported by Thomson Reuters (New York). Gevo had announced in September that it would revert its Luverne, MN, biorefinery to ethanol production while it worked to...
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