Aemetis Inc (NASDAQ: AMTX) released a key report this morning. In a press release, the company provided its financial results from the first quarter, showing some serious growth. Today, we’ll talk about:
- The financial results;
- what we’re seeing from AMTX;
- and what we’ll be watching for ahead
AMTX Reports Financial Results
As mentioned above, Aemetis released its earnings for the first quarter early this morning. The report showed some incredible growth at the company. Here’s what we saw from the report:
- Revenue – In terms of revenue, AMTX did overwhelmingly well. During the first quarter, the company generated revenue in the amount of $43.0 million. That’s a massive 36% year over year increase. The company said that North America revenues rose by 24%, primarily as a result of strengthening in feed business and increasing demand for ethanol. Also, the company saw revenue growth in the amount of 262% in India with stronger domestic demand.
- Gross Profit – In terms of gross profit, the company did not disappoint. During the quarter, the company generated gross profit in the amount of $1.9 million. That proved to be growth in the amount of $2.5 million year over year with a loss of $0.6 million being reported in the first quarter of 2017.
- Operating Loss – Also, operating losses at AMTX are shrinking. During the first quarter, the operating loss came to $2 million. That’s half of the $4 million operating loss seen in the same quarter one year ago.
- Cash – Finally, the company said that at the end of the first quarter, its cash on hand came to a total of $393,000.
In a statement, Eric McAfee, Chairman and CEO at AMTX, had the following to offer:
We were pleased to see positive revenue growth in both segments of our business in the first quarter of 2018… We’re optimistic that our North America and India businesses are poised to show continued growth for the remainder of this year.
What We’re Seeing From The Stock
While the earnings report was overwhelmingly positive, we’re seeing a bit of an adverse reaction in the market. We believe that the declines on Aemetis represent a potential opportunity to get in on future growth at a discount. Of course, our partners at Trade Ideas were the first to alert us to the declines. At the moment (10:44), AMTX is trading at $1.80 per share after a loss of $0.039 per share or 2.13% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on AMTX. In particular, we’re interested in following the continued growth of the company as it continues to hit key milestones. Nonetheless, we’ll keep following the story closely and bringing the news to you as it breaks!
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