Aemetis Inc ( ($AMTX) ) has released its Q3 earnings. Here is a breakdown of the information Aemetis Inc presented to its investors.
Aemetis Inc., headquartered in Cupertino, California, is a renewable natural gas, renewable fuels, and biochemicals company that focuses on technologies to replace petroleum-based products and reduce greenhouse gas emissions. The company operates ethanol and biodiesel production facilities in California and India, respectively, and is expanding its biogas network and pipeline system in California.
In its latest earnings report for the third quarter of 2024, Aemetis Inc. announced revenues of $81.4 million, reflecting a 19% increase compared to the same quarter of the previous year. This growth was driven by strong performances across all operating segments, including California Ethanol, India Biodiesel, and Dairy Renewable Natural Gas. The company also highlighted anticipated revenue growth from new projects and regulatory approvals.
Key financial metrics included a gross profit of $3.9 million, an improvement from $492 thousand in the previous year, and a reduction in operating loss to $3.9 million from $8.5 million. However, the company reported a net loss of $17.9 million for the quarter, compared to a net income of $30.7 million in the third quarter of 2023. Investments in capital projects, particularly in the biogas segment, amounted to $4.5 million during the quarter.
Looking ahead, Aemetis Inc. remains focused on expanding its renewable fuels and biochemicals operations, with an emphasis on obtaining regulatory approvals and tax credits to support growth. The management anticipates continued revenue increases from both existing and new projects, aligning with global trends toward sustainable energy solutions.
