The earnings call presented a mix of positive developments and challenges. Significant revenue growth and improvements in gross profit and operating loss highlight operational progress. However, increased interest expenses, a net income decline, and low cash reserves present financial challenges. Regulatory uncertainties regarding the 45Z tax credit and LCFS approval delays add complexity to future projections.

Company Guidance

During the Aemetis Q3 2024 earnings call, the company outlined several key metrics and future guidance. Revenue increased to $81.4 million from $68.7 million in Q3 2023, with the Keyes plant generating $45 million through the production of 15.5 million gallons of ethanol. The Dairy Renewable Natural Gas segment sold 85,993 MMBtus, generating $4.2 million. India's biodiesel operations contributed $32.2 million. Gross profit rose to $3.9 million, and operating loss improved to $3.9 million from $8.5 million in 2023. Interest expenses increased to $11.7 million, while net loss was $17.9 million, compared to $30.7 million net income in 2023. The call highlighted plans to increase renewable natural gas production to 1 million MMBtus by the end of 2025, and anticipated significant revenue expansion driven by new regulatory developments and tax credits, with projections including $20 million in RNG revenue by 2025 under a $100 LCFS price scenario.

Revenue Growth

Revenue during the third quarter 2024 increased to $81.4 million compared to $68.7 million for the third quarter of 2023.

Improved Gross Profit

Gross profit for the third quarter of 2024 was $3.9 million compared to $492,000 profit during the third quarter of 2023.

Reduction in Operating Loss

Operating loss improved to $3.9 million for the third quarter of 2024 compared to an operating loss of $8.5 million for the same period of 2023.

LCFS Credit Price Increase

The price of LCFS credits has increased from $44 to $74 in recent months, with further expectations of $82 by late 2025.

RNG Production Growth

The renewable natural gas business is expected to produce more than 500,000 MMBtus per year by the end of 2024, with projections of 1 million MMBtus by the end of 2025.

India Biodiesel Business Success

Completed deliveries of $112 million during the 1-year period ending September 2024, with positive EBITDA and continued growth expectations.

USDA Loan Approvals

USDA has $75 million of Aemetis Biogas loan applications in process, expecting a closing of $25 million this quarter and additional $50 million in Q1 2025.

---

Aemetis (AMTX) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

AMTX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 06, 2025	2024 (Q4)	-0.39 / -	-0.64	―	―	―
Nov 12, 2024	2024 (Q3)	-0.38 / -0.38	0.73	-152.05% (-1.11)	―
Aug 01, 2024	2024 (Q2)	-0.43 / -0.66	-0.68	2.94% (+0.02)	―
May 09, 2024	2024 (Q1)	-0.46 / -0.58	-0.73	20.55% (+0.15)	―
Mar 07, 2024	2023 (Q4)	-0.39 / -0.64	-0.63	-1.59% (-0.01)	―
Nov 09, 2023	2023 (Q3)	-0.30 / 0.73	-0.135	640.74% (+0.86)	―
Aug 03, 2023	2023 (Q2)	-0.33 / -0.68	-0.01	-6700.00% (-0.67)	―
May 04, 2023	2023 (Q1)	-0.42 / -0.73	-0.54	-35.19% (-0.19)	―
Mar 09, 2023	2022 (Q4)	-0.30 / -0.63	-0.03	-2000.00% (-0.60)	―
Nov 03, 2022	2022 (Q3)	-0.32 / -0.14	-0.55	75.45% (+0.42)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

---

AMTX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 12, 2024	$3.59	$4.62	+28.69%
Aug 01, 2024	$3.21	$2.66	-17.13%
May 09, 2024	$4.14	$4.11	-0.72%
Mar 07, 2024	$3.32	$3.26	-1.81%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

---