Web exclusive posted Oct. 23, 2008 at 10:24 a.m. CST 
 
 Publicly traded Omaha, Neb.-based <a href="http://www.gpreinc.com/">Green Plains Renewable Energy Inc. </a>reported a net loss of $900,000 for the three months ending Aug. 31 and a net income of $13.7 million for the nine months ending before the same date. 

 
 In a statement, GPRE said that the decline in its earnings reflected the seasonal nature of the agri-business segment, where the bulk of its business activity occurs during spring planting and fall harvest. Additionally, GPRE's results include operating costs incurred without corresponding revenues prior to the July start-up of its operating 55 MMgy ethanol plant in Superior, Iowa, and net hedging losses totaling approximately $1.2 million. However, the hedging losses were more than offset by gains of approximately $2 million from sales of corn not used for ethanol production as a result of the Superior plant's delayed start-up, according to GPRE.
 
 "In recent months, there have been extreme fluctuations in commodity markets," said Wayne Hoovestol, chief executive officer of GPRE. "While our third quarter results reflect a modest lost, we believe that our risk management practices, which focus on managing margins, have proven effective this quarter."
 
 Additionally, GPRE established an internal marketing program for its ethanol and distillers' grains on Sept. 30. The company began marketing ethanol produced at its 50 MMgy ethanol plant located in Shenandoah, Iowa. 
 
 Meanwhile, GPRE and VBV LLC completed a merger deal that creates one of the nation's largest publicly-traded ethanol companies, with complementary grain, agronomy, feed, fuel and ethanol marketing and distributions operations. 
 
 Post-merger, GPRE had four ethanol plants and eight grain elevators, with a potential annual operating capacity of 330 MMGy of ethanol and grain storage capacity of 22 million bushels. As part of the merger, GPRE inherited both of VBV's ethanol plants: an operating 100 MMgy ethanol plant in Bluffton, Ind., and a 100 MMgy plant under construction in Obion, Tenn., that's expected to come on line later this year. 
 
 "We welcome our new employees from VBV and its subsidiaries," Hoovestol said. "Green Plains is now larger, more diversified, better capitalized and in a stronger position to take advantage of opportunities, which we believe will enhance long-term shareholder value."
 
 The deal between GPRE and VBV was treated as a reverse merger on the NASDAQ in which the combined entity will be kept under the GPRE publicly traded ticker symbol after Nov. 10.

GPRE posts slight net loss for third quarter

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GPRE posts slight net loss for third quarter.css-7jxktu{position:absolute;bottom:0px;left:0px;right:0px;height:3px;border-radius:3px;background-color:var(--chakra-colors-brandBlack);}

Upcoming Events

2025 International Fuel Ethanol Workshop & Expo

Carbon Capture & Storage Summit

Sustainable Fuels Summit: Sustainable Aviation Fuel & Renewable Diesel

North American SAF Conference & Expo

GPRE posts slight net loss for third quarter