Renewable Energy Group reports big boost in biodiesel revenues in third quarter
Monday, November 11, 2013 10:36 AM
Ames-based Renewable Energy Group Inc. reported a 24 percent increase in revenues from biodiesel sales for quarter ending Sept. 30 over the same year-ago period. Biodiesel generated $399 million in revenue in the third quarter, up from nearly $321 million in the the third quarter of 2012. Overall income from biodiesel was $458 million in the recently ended quarter, including $59 million in government incentives, according to documents filed Friday with the U.S. Securities and Exchange Commission. The company reported net income of $86.7 million after losing $6 million in the third quarter of 2012. Through the first nine month of the year, Renewable Energy Group has reported $156 million in net income, compared with $22.4 million a year ago.