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Aemetis Reports Third Quarter 2026 Financial Results

AMTX
  • Revenues reached $88.2 million in Q3 2026, a 49% increase from $59.2 million in Q3 2025.
  • Aemetis Biogas RNG sales volume grew 39% to 158,200 MMBtu, up from 114,000 MMBtu in Q3 2025.
  • Operating income improved by $29.4 million to $20.9 million, compared to an $8.5 million loss in Q3 2025.
  • Net income was $5.2 million ($0.07 per basic share), a $29.0 million improvement over the Q3 2025 net loss of $23.7 million.
  • Adjusted EBITDA increased by $29.8 million to $24.8 million, reversing a $5.0 million loss in the prior year quarter.
  • Section 45Z production tax credit income totaled $24.7 million, including an $11.0 million cumulative true-up for the first half of 2026 due to a DOE model update.
  • The September 8, 2026 update to the 45ZCF-GREET model increased the Section 45Z credit value for dairy RNG to approximately $62 per MMBtu.
  • Two new dairy digesters began operation in October 2026, expanding the network to 14 digesters serving 17 dairies.
  • California Ethanol segment sold 15.6 million gallons (up 6%) at an average price of $2.34 per gallon (up 10%).
  • Biodiesel sales were $7.3 million in Q3 2026, down from $13.9 million in Q3 2025, as shipments to India Oil Marketing Companies resumed in late July 2026.
  • Cash on hand was $3.4 million at the end of Q3 2026, down from $4.9 million at the end of Q4 2025.
  • Capital project investments totaled $20.2 million in Q3 2026, focused on carbon intensity reductions at the Keyes ethanol plant and dairy digester construction.
  • Aemetis received $22.4 million from the sale of Section 45Z production tax credits in September 2026.
  • The Series A Preferred Unit Purchase Agreement was amended in August 2026 to extend the redemption date to December 31, 2026, with adjusted interest rates.
  • For the nine months ended September 30, 2026, revenues were $205.5 million, with a net loss of $25.9 million, an improvement from a $71.7 million loss in the same period in 2025.
  • Nine-month Adjusted EBITDA was $33.2 million, a $54.7 million improvement over the $21.5 million loss in the prior year period.