Sacramento’s Pacific Ethanol posts sizable quarterly loss

Sacramento’s Pacific Ethanol Inc., a producer of low-carbon renewable fuels, on Wednesday reported a net loss available to common stockholders of $15 million, or 36 cents per share, for the third quarter, which ended Sept. 30.

That compares with a profit of $3.7 million, or 15 cents a share, in the third quarter of 2014.

The company said its 2015 bottom line was affected by expenses related to its recent $192 million acquisition of Aventine Energy Holdings Inc. of Pekin, Ill. That acquisition is expected to double PEI’s production capacity.

Net third-quarter sales totaled $380.6 million, a 38 percent increase over $275.6 million in the third quarter of 2014.

This story was originally published November 4, 2015 at 8:58 PM with the headline "Sacramento’s Pacific Ethanol posts sizable quarterly loss."