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Aemetis Reports Second Quarter 2026 Financial Results

AMTX
  • Aemetis reported second quarter 2026 revenues of $62.7 million, a 20% increase over the same period in 2025, driven by growth in California Ethanol & Dairy RNG segments.
  • Operating income improved to $5.8 million from an operating loss of $10.7 million in the prior year quarter, while net loss narrowed to $9.4 million from $23.4 million.
  • Adjusted EBITDA reached $9.7 million, a $15.5 million improvement compared to negative $5.8 million in the second quarter of 2025.
  • Dairy RNG sales volume grew 38% to 146,900 MMBtu, supported by $8.6 million in Section 45Z tax credits recognized as revenue.
  • California Ethanol sales volume increased 12% to 15.5 million gallons with an average selling price rise of 9% to $2.19 per gallon.
  • Biodiesel sales in India declined to $2.5 million due to a lack of new purchases by OMC customers.
  • Gross profit turned positive at $13.5 million, an improvement of $17.0 million over the prior year's gross loss, aided by lower corn costs & tax credits.
  • Ten digester cleanup skids were received, with two new biogas dairy digesters expected to commission in the third quarter of 2026.
  • Capital project investments totaled $8.6 million in the quarter, including work on the mechanical vapor recompression project at the Keyes plant.
  • Cash on hand decreased to $1.0 million from $4.9 million at the end of the fourth quarter of 2025.
  • The company is pursuing financing for the Keyes ethanol plant, Dairy RNG digester expansion, & a potential IPO of its India subsidiary, Universal Biofuels.
  • Six-month revenues for 2026 totaled $117.3 million, with a net loss of $31.1 million compared to $47.9 million in the first half of 2025.
  • Seven LCFS provisional pathways with an average negative 380 CI score are fully approved, with six additional pathways nearing approval.