Renewable Energy Group: 2Q Earnings Snapshot
- Aug 5, 2020 12:48 pm GMTAug 5, 2020 3:09 pm GMT
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AMES, Iowa (AP) _ Renewable Energy Group Inc. (REGI) on Tuesday reported second-quarter net income of $830,000, after reporting a loss in the same period a year earlier.
The Ames, Iowa-based company said it had net income of 2 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 35 cents per share.
The biodiesel producer posted revenue of $546 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $502.9 million.
Renewable Energy Group shares have climbed slightly more than 6% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $28.68, more than doubling in the last 12 months.