AMES, Iowa (AP) _ Renewable Energy Group Inc. (REGI) on Tuesday reported a second-quarter loss of $62.1 million, after reporting a profit in the same period a year earlier.
The Ames, Iowa-based company said it had a loss of $1.64 per share. Losses, adjusted to account for discontinued operations and asset impairment costs, were $1.51 per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 59 cents per share.
The biodiesel producer posted revenue of $560.6 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $572.9 million.
Renewable Energy Group shares have dropped 51% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $12.63, a decline of 29% in the last 12 months.