Goldman Sachs und Pacific Ethanol

Schon seine Medikamente bekommen und schläft in seiner Zelle...also gut nun!

...spannender abend...die anderen haben gut vorgelegt, die Shorts und der heutige Verlauf machen es aber spannend

Kurz vor spannenden Zahlen nichts los...der eine zu jung und im bett, der andere im heim und der letzte im Osten ohne Empfang.....na toll

Opi, wink mal, die gucken jetzt alle  !


jut reicht, die denken noch du suchst Freunde !

Warte auf die Zahlen und baue nebenbei eine Dara Position auf.

....Spannung steigt, opi pass auf dein Herz auf...hier ist alles drin ..letztes Q gesehen

ein Alpirsbacher Spezial.  

Gross profit was $33.6 million, compared to $7.0 million for the second quarter of 2013. The improvement in gross profit was driven by significantly improved production margins and corn oil production.

Selling, general and administrative ("SG&A") expenses were $4.3 million, compared to $3.1 million for the second quarter of 2013. The increase in SG&A is primarily due to an increase in compensation costs tied to the company's continued profitable results and an increase in professional fees from higher corporate activity.

Operating income was $29.3 million, compared to $3.8 million for the second quarter of 2013.

Interest expense, net, was $2.9 million, which included a one-time expense of approximately $0.9 million related to accelerated amortization of deferred financing fees and debt discounts on early retired debt. Interest expense, net, was $4.0 million for the second quarter of 2013.

The company recorded a loss of $2.4 million on the early extinguishment of $14.7 million in debt during the quarter.

Net income available to common stockholders was $15.3 million, or $0.68 per diluted share, which includes an income tax provision of $7.2 million. Net income available to common stockholders for the second quarter of 2013 was $0.7 million, or $0.07 per diluted share.

Adjusted net income, which excludes fair value adjustments and warrant inducements and gain (loss) on extinguishments of debt, was $17.1 million, or $0.77 per diluted share, compared to an adjusted net loss of $0.7 million, or $0.05 per diluted share, for the second quarter of 2013.

Adjusted EBITDA was $27.8 million, compared to $6.6 million for the second quarter of 2013.

Cash at June 30, 2014 was $25.9 million, compared to $5.2 million at December 31, 2013. Cash at July 29, 2014 was $48.0 million following $19.7 million of warrant exercises in July.

Bryon McGregor, the company's CFO, stated: "During the second quarter, we made significant strides in further improving our balance sheet and liquidity to position us for continued growth. We raised net proceeds of approximately $26.0 million through an underwritten public offering, eliminated all indebtedness at the parent company level and we reduced our net consolidated plant term debt to $17.0 million. Since quarter-end, we also raised approximately $19.7 million from the exercise of warrants, leaving us with warrants outstanding to purchase only 1.6 million shares of common stock. This drop in warrants outstanding will reduce GAAP earnings volatility in future quarters."

Financial Results for the Six Months Ended June 30, 2014

Net sales were $575.7 million, compared to $459.3 million in the same period of 2013.

Net income available to common stockholders was $4.1 million, compared to loss of $5.0 million in the same period of 2013.

Adjusted net income was $41.8 million, or $2.04 per diluted share, compared to an adjusted net loss of $6.6 million, or $0.63 per diluted share, for the same period of 2013.

Adjusted EBITDA was $63.2 million, compared to $6.9 million for the same period of 2013.

Second Quarter 2014 Results Conference Call

Management will host a conference call at 8:00 a.m. PT/11:00 a.m. ET on July 31, 2014.

Neil Koehler, Chief Executive Officer, and Bryon McGregor, Chief Financial Officer, will deliver prepared remarks followed by a question and answer session. The webcast for the call can be accessed from Pacific Ethanol's website at www.pacificethanol.com. Alternatively, you may dial the following number up to ten minutes prior to the scheduled conference call time: (877) 847-6066. International callers should dial 00-1-(970) 315-0267. The pass code will be 78867900#.

If you are unable to participate on the live call, the webcast will be archived for replay on Pacific Ethanol's website for one year. In addition, a telephonic replay will be available at 2:00 p.m. Eastern Time on Thursday, July 31, 2014 through 11:59 p.m. Eastern Time on Thursday, August 7, 2014. To access the replay, please dial (855) 859-2056. International callers should dial 00-1-(404) 537-3406. The pass code will be 78867900#.

Use of Non-GAAP Measures

Management believes that certain financial measures not in accordance with generally accepted accounting principles ("GAAP") are useful measures of operations. The company defines Adjusted Net Income (Loss) as unaudited earnings before fair value adjustments and warrant inducements and gain (loss) on extinguishments of debt. The company defines Adjusted EBITDA as unaudited earnings before interest, provision for income taxes, depreciation and amortization, fair value adjustments and warrant inducements and noncash gain (loss) on extinguishments of debt. Tables are provided at the end of this release that provide a reconciliation of Adjusted Net Income (Loss) and Adjusted EBITDA to their most directly comparable GAAP measures. Management provides these non-GAAP measures so that investors will have the same financial information that management uses, which may assist investors in properly assessing the company's performance on a period-over-period basis. Adjusted Net Income (Loss) and Adjusted EBITDA are not measures of financial performance under GAAP, and should not be considered alternatives to net income (loss) or any other measure of performance under GAAP, or to cash flows from operating, investing or financing activities as an indicator of cash flows or as a measure of liquidity. Adjusted Net Income (Loss) and Adjusted EBITDA have limitations as analytical tools and you should not consider these measures in isolation or as a substitute for analysis of the company's results as reported under GAAP.

About Pacific Ethanol, Inc.

Pacific Ethanol, Inc. (PEIX) is the leading producer and marketer of low-carbon renewable fuels in the Western United States. Pacific Ethanol also sells co-products, including wet distillers grain ("WDG"), a nutritional animal feed. Serving integrated oil companies and gasoline marketers who blend ethanol into gasoline, Pacific Ethanol provides transportation, storage and delivery of ethanol through third-party service providers in the Western United States, primarily in California, Arizona, Nevada, Utah, Oregon, Colorado, Idaho and Washington. Pacific Ethanol has a 91% ownership interest in PE Op Co., the owner of four ethanol production facilities. Pacific Ethanol operates and manages the four ethanol production facilities, which have a combined annual production capacity of 200 million gallons. These operating facilities are located in Boardman, Oregon, Burley, Idaho, Stockton, California and Madera, California. The facilities are near their respective fuel and feed customers, offering significant timing, transportation cost and logistical advantages. Pacific Ethanol's subsidiary, Kinergy Marketing LLC, markets ethanol from Pacific Ethanol's managed plants and from other third-party production facilities, and another subsidiary, Pacific Ag. Products, LLC, markets WDG. For more information please visit www.pacificethanol.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

With the exception of historical information, the matters discussed in this press release including, without limitation, the ability of Pacific Ethanol to continue as leading producer and marketer of low-carbon renewable fuels in the Western United States; the continuation of favorable market conditions; Pacific Ethanol's focus on leveraging its production and marketing advantages and expanding its market share; and reduced GAAP earnings volatility are forward-looking statements and considerations that involve a number of risks and uncertainties. The actual future results of Pacific Ethanol could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, adverse economic and market conditions; changes in governmental regulations and policies; and other events, factors and risks previously and from time to time disclosed in Pacific Ethanol's filings with the Securities and Exchange Commission including, specifically, those factors set forth in the "Risk Factors" section contained in Pacific Ethanol's Form 10-Q filed with the Securities and Exchange Commission on May 9, 2014.

   
PACIFIC ETHANOL, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited, in thousands, except per share data)
   
Three Months Ended
June 30, Six Months Ended
June 30,
2014 2013 2014 2013
       
Net sales $ 321,144 $ 233,808 $ 575,687 $ 459,267
Cost of goods sold  287,568  226,843  503,566  451,456
Gross profit  33,576   6,965   72,121   7,811
Selling, general and administrative expenses  4,315  3,133  7,985  7,138
Income from operations  29,261   3,832     64,136     673
Fair value adjustments and warrant inducements   485  1,437  (35,359)  745
Interest expense, net  (2,886)  (3,972)  (7,237)  (7,453)
Gain (loss) on extinguishments of debt  (2,363)   (39)  (2,363)  778
Other expense, net  (335)  (128)  (562)  (215)
Income (loss) before provision for income taxes   24,162   1,130   18,615   (5,472)
Provision for income taxes    7,196  —  10,466  —
Consolidated net income (loss)   16,966   1,130  8,149  (5,472)
Net (income) loss attributed to noncontrolling interests  (1,394)  (79)  (3,403)  1,069
Net income (loss) attributed to Pacific Ethanol $15,572 $ 1,051 $ 4,746 $ (4,403)
Preferred stock dividends $ (315) $ (315) $ (627) $ (627)
Income (loss) available to common stockholders $15,257 $ 736 $ 4,119 $ (5,030)
Net income (loss) per share, basic $ 0.77 $ 0.07 $ 0.23 $ (0.48)
Net income (loss) per share, diluted $ 0.68 $ 0.07 $ 0.20 $ (0.48)
Weighted-average shares outstanding, basic  19,903  10,853  18,053  10,462
Weighted-average shares outstanding, diluted  22,276  12,135  20,514  10,462
       

PACIFIC ETHANOL, INC.
CONSOLIDATED BALANCE SHEETS
(unaudited, in thousands, except par value)
   
June 30, December 31,
    ASSETS§ 2014 2013
Current Assets:    
Cash and cash equivalents $ 25,923 $ 5,151
Accounts receivable, net 43,063 35,296
Inventories§ 27,580 23,386
Prepaid inventory 14,814 12,315
Other current assets 1,033 3,229
Total current assets 112,413 79,377
Property and equipment, net 155,528 155,194
Other Assets:    
Intangible assets, net 3,023 3,260
Other assets 1,749 3,218
Total other assets 4,772 6,478
Total Assets $ 272,713 $ 241,049
   
LIABILITIES AND STOCKHOLDERS' EQUITY    
Current Liabilities:    
Accounts payable – trade $ 16,619 $ 11,071
Accrued liabilities 10,440 5,851
Current portion – capital leases 4,802 4,830
Current portion – long-term debt — 750
Other current liabilities 1,419 5,714
Total current liabilities 33,280 28,216
   
Long-term debt, net of current portion 38,374 98,408
Accrued preferred dividends 2,194 3,657
Capital leases, net of current portion 3,710 6,041
Warrant liabilities at fair value 22,763 8,215
Other liabilities 4,495 1,611
Total Liabilities 104,816 146,148
   
Stockholders' Equity:    
Pacific Ethanol, Inc. Stockholders' Equity:    
Preferred stock, $0.001 par value; 10,000 shares authorized;
Series A: 0 shares issued and outstanding as of  June 30, 2014
and December 31, 2013 Series B: 927 shares issued and
outstanding as of June 30, 2014 and December 31, 2013 1 1
Common stock, $0.001 par value; 300,000 shares authorized;
21,235 and 16,126 shares issued and outstanding as of
June 30, 2014 and December 31, 2013, respectively 21 16
Additional paid-in capital 687,026 621,557
Accumulated deficit (528,237) (532,356)
Total Pacific Ethanol, Inc. Stockholders' Equity 158,811 89,218
Noncontrolling interests 9,086 5,683
Total Stockholders' Equity 167,897 94,901
Total Liabilities and Stockholders' Equity $ 272,713 $ 241,049
   

Reconciliation of Adjusted Net Income (Loss) to Net Income (Loss)
   

Three Months Ended
June 30, Six Months Ended
June 30,
(in thousands) (unaudited) 2014 2013 2014 2013
Net income (loss) attributed to common shareholders $ 15,257 $ 736 $ 4,119 $ (5,030)
Adjustments:§        
Fair value adjustments and warrant inducements (485) (1,437) 35,359 (745)
Extinguishments of debt  2,363  39  2,363  (778)
Total adjustments  1,878  (1,398)    37,722    (1,523)
Adjusted net income $ 17,135 $ (662) $ 41,841 $ (6,553)
Adjusted net income (loss) per share - diluted $ 0.77 $ (0.05) $ 2.04 $ (0.63)
Weighted-average shares outstanding, diluted 22,276 12,135 20,514 10,462

Reconciliation of Adjusted EBITDA to Net Income (Loss)
   

Three Months Ended
June 30, Six Months Ended
June 30,
(in thousands) (unaudited) 2014 2013 2014 2013
Net income (loss) attributed to Pacific Ethanol $ 15,572 $ 1,051 $ 4,746 $ (4,403)
Adjustments:§        
Interest expense* 2,551 3,393 6,595 6,125
Provision for income taxes 7,196 — 10,466 —
Extinguishments of debt - noncash — 1,037 — 1,037
Fair value adjustments and warrant inducements (485) (1,437) 35,359 (745)
Depreciation and amortization expense*    2,989  2,529  6,052  4,915
Total adjustments     12,251  5,522    58,472    11,332
Adjusted EBITDA $ 27,823 $ 6,573 $ 63,218 $ 6,929
_____________§        
* Adjusted for noncontrolling interests.        

Commodity Price Performance
   
Three Months Ended
June 30, Six Months Ended
June 30,
(unaudited) 2014 2013 2014 2013
Ethanol production gallons sold (in millions) 46.5 36.8 86.3 72.1
Ethanol third party gallons sold (in millions)  85.7   64.4  158.6  129.9
Total ethanol gallons sold (in millions) 132.2 101.2 244.9 202.0
       
Average ethanol sales price per gallon $ 2.78 $ 2.79 $ 2.75 $ 2.69
Average CBOT ethanol price per gallon $ 2.25 $ 2.53 $ 2.23 $  2.47
       
Corn cost – CBOT equivalent $ 4.84 $ 6.55 $ 4.67 $ 6.85
Average basis  1.13  1.41  1.20  1.30
Delivered corn cost $ 5.97 $ 7.96 $ 5.87 $ 8.15
       
Total co-product tons sold (in thousands)  373.9  337.4  715.8  638.3
Co-product return % (1) 39.5% 27.6% 35.3% 27.9%
_____________§        
(1) Co-product revenue as a percentage of delivered cost of corn.      
CONTACT: Company IR Contact:
        Pacific Ethanol, Inc.
        916-403-2755
        844-403-2755
        Investorrelations@pacificethanol.com
       
        IR Agency Contact:
        Becky Herrick
        LHA
        415-433-3777
       
        Media Contact:
        Paul Koehler
        Pacific Ethanol, Inc.
        916-403-2790
        paulk@pacificethanol.com

..bereinigt eigentlich 2,04... Aber Schulden auf 17 Mio abgebaut...mal kucken ob man es nun versteht

...also erstes Halbjahr steht mit 2,04 im plus...Optionen bearbeitet und Schulden auf 17 Mio abgebaut...

...für was braucht man das?...genial...wenn die anals jetzt nicht langsam verstehen was hier läuft weiss ich auch nicht mehr...

schön! Bin mal gespannt wir es weiter geht. Jetzt kkann ich gut schlafen. Gute Nacht @all

nur noch 1,6 mio warrents übrig sind.

nen dickes Gap up geben.

passiert nicht das Gleiche wie nach den letzten Zahlen.

1,6 Mio Optionen nur noch
47 Mio Cash
17 Mio Restschulden
2,04 pro Shares im 1. HJ

Nun können die letzten 2 Quartale kommen.

...Das bereinigte EBITDA betrug $ 63.200.000

Die Frage bleibt was macht man mit dem Geld?...warum baut man die Schulden so ab das dadurch das ergebnis gemindert wird?.... Meine damit das die ca 13 Mio zum schuldenabbau das Ergebnis pro Share deutlich gedrückt haben..naja , da ist ein plan noch im Busch sonst sperrt man keine 50 Mio...holen die nun in Q 3 doch noch die letzten Anteile und bauen die Schulden komplett ab?...wäre eine Möglichkeit...


Gute nacht und zufrieden

mal schauen auf morgen


@schnnuffi

gap up sagst du!? bin mir da nicht ganz so sicher....


ca. 68k after hour handel zuletzt 18,05$ kurz nach dem Berich hoch auf 19,77$


muss ja nicht heissen, bis morgen

Eigentlich ist die Entwicklung der Hammer schlecht hin.

Sie hätten locker 1,70 pro Shares ausweisen können.
Wir hatten einen neuen Rekordumsatz.
noch kein Wort über Madera-Entwicklung
im letzten Monat allein Cash um ca. 20 Mio. erhöht