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Pacific Ethanol tops Street 4Q forecasts

SACRAMENTO, Calif. (AP) _ Pacific Ethanol Inc. (PEIX) on Wednesday reported fourth-quarter net income of $13.1 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Sacramento, California-based company said it had profit of 30 cents.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.

The ethanol producer posted revenue of $441.7 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $423.8 million.

For the year, the company reported net income of $1.4 million, swinging to a profit in the period. Revenue was reported as $1.62 billion.

Pacific Ethanol shares have decreased 12 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $8.35, more than doubling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PEIX at https://www.zacks.com/ap/PEIX

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Keywords: Pacific Ethanol, Earnings Report