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Green Plains Renewable Energy Reports Q3 Loss, But Results Better than Analysts' Forecasts; Shares Up 21%
By: MT Newswires
Shares of Green Plains Renewable Energy, ( GPRE ) have shot up 21% to $7.30 after it reported a Q3 net loss of $0.03 per diluted share, compared to earnings of $0.32 per diluted share for the same period in 2011.
Revenues were $947.4 million compared to $957.0 million for the same period in 2011. GPRE's Q3 results, although disappointing, were better than analyst estimates. According to Yahoo Finance, analysts expected a loss of $0.27 per share on revenues of $848.72 million.
GPRE shares are trading in a 52-week range of $3.57 - $12.