published on July 28, 2016 - 6:53 PM
Written by The Business Journal Staff

Sacramento-based Pacific Ethanol reported a sharp rise in its second quarter profits Wednesday, attributing the increase in earnings to its 2015 acquisition of Aventine Energy Holdings Inc. of Pekin, Ill., a major Midwestern ethanol producer.


Pacific Ethanol earned $5.1 million in the second quarter compared with $1 million a year earlier. Per-share earnings jumped to 11 cents, from 3 cents and revenue grew 86 percent to a record $422.9 million as the company sold a total of 233 million gallons of the fuel additive during the quarter, compared with 141 million gallons a year earlier.

Shares of the company, which trade on the NASDAQ under the ticker PEIX, were up nearly 7 percent Thursday morning, trading at $6.90.


e-Newsletter Signup

Our weekly poll

Are you willing to travel for business again?

Loading ... Loading ...

Central Valley Biz Blogs

Popup
shares

3/5

Article views

remaining

Sign up icon

To continue website access to

TheBusinessJournal.com

please create a FREE account OR login here.

1/5

Article views

remaining

SKIP THE POP-UPS
For only $59 for one 1-year you will receive the Print edition along with EVERYTHING The Business Journal has to offer digitally, PLUS you will have unlimited 24- hour a day access to view articles at

TheBusinessJournal.com

Use Promo Code

*New Subscribers Only

Digital and Print

XX Days Remaining

until you can view 5 more free articles

Sign up icon

Want access? Subscribe now & save $20 OFF.

Use Promo Code

WEBSUB20

* NEW SUBSCRIBERS ONLY