Earnings Releases·Nov 10, 2026, 4:07 PM ET

Gevo — Third Quarter 2026 Earnings Summary

**Record Financial Results:** Q3 2026 revenue reached $83 million (up from $43 million in Q3 2025), driven by $29.4 million in CFR credit sales, resulting in net income of $23 million versus a $8 million loss in the prior year period.
**Revised Guidance:** Full-year 2026 non-GAAP Adjusted EBITDA outlook raised to >$90 million and 2027 outlook to >$70 million, supported by $20 million in non-recurring credit revenue and expected 45Z tax credit growth in 2027.
**Strategic Progress & Capital Structure:** The North Dakota debottlenecking project is nearing completion to reach 75 million gallons annual ethanol capacity; the company secured long-lead equipment for a 2028 expansion and redeemed $68.2 million in bonds while increasing loans payable to $167.8 million.
**Operational Milestones:** Q3 low-carbon ethanol production hit 19 million gallons, and the company contracted $70 million in 2026 Section 45Z tax credits, with management confirming the carbon business stands on its own financially for 2026.