AMTX - Earnings call transcript Q2 2024

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Operator

Greetings, and welcome to the Aemetis Second Quarter 2024 Earnings Review Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Todd Waltz, Executive Vice President and Chief Financial Officer of Aemetis Inc. Mr. begin. may you Wolf,

Todd Waltz

Welcome Call. Aemetis' Ali. Earnings Quarter Review Conference to you, Second the XXXX Thank

for earnings call Foster, Securities with us at the CEO press America. Joining Aemetis the recent suggest and aemetis.com of conference Chairman McAfee, We and Investor earnings releases Aemetis Exchange and to Founder, Corporate review Commission, and press our and the Andy visiting President calls. today's North today of previous website is release, Eric filings Presentation,

like I'd today, read discussion the statement. our begin we disclaimer to following Before

call, we'll that conjunction statements business expectations our and today's the with in plans, future be During activity including, making cautionary of in filings. SEC our and without with stock plans. disclosures and forward-looking These limitation, with opportunities appear our financing execution statements, respect statements to respect warnings must to the considered performance, be

made that the call that events may statements Investors differ uncertainties are risks forward-looking and from on cautioned and made. future this materially all involve statements

please company's SEC's EDGAR to information, the our company own For the and on Exchange website. Securities Commission which posted system additional refer filings, are and

call as in our sources of because financial A or is which release believe the Our GAAP XXXX, non-GAAP measures based X the for a our for reconciliation to the months is supplement earnings our discussion June most on a non-GAAP to XX, cash. of include measures results non-GAAP of measures these website. measures and the in we directly a comparable on included GAAP available will proxy serve as ended review uses company's X

expense, extent amortization net income to intangible net as such plus expense, income is interest expense expense, depreciation share-based accretion tax calculating in other and compensation expense, the Adjusted EBITDA and income, deducted loss expense. defined or

during quarter the million the XXXX. review results were Revenue quarter million compared quarter $XX.X second for the XXXX for to $XX.X second financial of XXXX. Let's second

second cycle quarter of during Our to maintenance extended entire his the a quarter keys plant of operated portion compared during XXXX. the

and natural digester reported dairy producing XX,XXX the at produced operating biogas digesters our quarter. ninth gas from dairy of and MMBtus revenue began second end segment Our of million $X.X the

of biodiesel sales India $XX.X primarily revenue oil India business the companies. marketing Our recognized to million from

compared million XXXX, loss XXXX during million. by Gross loss was during the from administrative million million second on the profit quarter a recognition XXXX. period Selling, and driven $X second quarter asset primarily of $X.X $X.X second expenses $X.X the million in XXXX, of $XX.X to of quarter of for of a the same general during the disposal were

second of LLC Biogas to units XXXX, in of was loss expense, A of second $X.X quarter the subsidiary compared $XX.X the Interest quarter including million during quarter to of the increased loss the of Series an for second $XX.X million XXXX for to the million in preferred period Operating operating million during accretion compared $X.X XXXX. same Aemetis XXXX.

recognized the of second for $XX.X accretion quarter fourth second Net of Cash end of during Biogas during second XXXX. second $XXX,XXX the quarter of A million compared second XXXX. of Series Aemetis million $X.X Additionally, loss million $X.X quarter of quarter units XXXX the of was the to for quarter XXXX preferred of million at XXXX $XX.X quarter close the of $X.X and to compared to the at compared XXXX. million was the the

the XXXX. dairy intensity million related Aemetis for of second We carbon of quarter digesters recorded the of $X.X projects and investments in of capital reduction of ethanol to construction

introduce Eric Officer update. to and the like Eric? for Aemetis, Chief McAfee, I'd Now a Chairman business Executive Founder, of

Eric McAfee

of to guaranteed Department X-year executing lower plan is our on flow across of by each U.S. rate, expanded and cash from a cash are Aemetis from you, that we all flow as Agriculture will businesses. currently review includes units positive our We interest growth. operating long-term operations, of financing solid X business combined Thank positive finance Todd. see today progress with operations debt X the in

are events have before a let's regulatory projects, our significant expected to review positive and our discussing businesses. operations However, that impact on

In incentives we week that hosted USDA Chief staff fuels for the of ethanol of Senate plant and visited meetings Economist representative Board, Air for for a for recently hearings Secretary, for the approval. USDA site week ethanol in EXX directly in Reduction and Office a blending addition top California. Resources impact and a and California EPA Regan; various May, the and with committees senators again meetings last D.C. to of biogas Washington, officials, tour I inflation Michael plant Act also renewable SAF the with

that production meetings the showing XXz and quarters Federal support Aemetis of Section credit Board important can as begins X over business Resources occur calculation a of legal of inflation January to highlight Air year the approval X guidance ethanol From the are discussions. years low-carbon to XX% And the the permanent for by XX Reduction increased these is sources blend states. which California part scheduled has the been demand on in next The energy that of November plan. approve early slated that IRS tax the XXXX. settlement the strongly EPA, events that with other Midwestern I scheduled X external transportation, Act and renewable for the X regulatory fuels vote next next for

expected are increased per biogas in flow starting significantly cash of products as LCFS as increase to the XXXX. January generate the to increased digesters strongly X value continue and cash $XX of our Combined, year additional are flow is expected built. and events Positive than grow regulatory of more to positive these million credits value

already quarter, biodiesel. ethanol should and of we operating X in XXXX, positive our quarter of third showing production, cash businesses, flow current that are natural renewable including the each gas from the I dairy note India

regulatory the strong EPA and additional cash by LCFS for credit production are on We but XXXX future EXX have the profitability. key of elements X under adoption tax X events and flow November digesters the January construction, XXz for the of

million we in We loans USDA million for that USDA loans per loan completed $XX next In the An loans new digester have $XX close already of funding guaranteed and $XX this received total in of expect this or biogas Aemetis the pipeline approval conditional to process the closed for guaranteed of construction recently construction million past the America digesters XX-year to month. is closing and funding digesters from this dairy Biogas construction. USDA renewable additional for a and biogas year business $XX over year. commitment to later million build to so, the convert term year energy long-term financing for later

in generate earned almost of under continue RNG the XX% renewable to rate provisional XX% we'll later credits throughout XXXX intensity. significant number year. inventory Cashing expect of amount than QX until XXX LCFS pathway increase to portion higher we instead credits natural the the the price and production this more stored carbon more a July, We our dispensed QX of that provisional in the the on storage a In we credits gas approval production order pathway in QX. of of an spend at expected LCFS default negative later

transition emission that hydrogen production We feedstock Board allowing is trucks the engines future to has and an carbon stated Aemetis renewable California, to important and for cars renewable California trucks The enabling natural the X negative X fuel. renewable be natural light-duty believe supply future below intensity. well to the using in intensity for is truck X positioned renewable to gas, and hydrogen vehicles. that of and supply emission gas carbon-negative power a Resources Heavy-duty carbon electricity

diesel fuel to during authority first air construct In diesel our gallons SAF. to renewable quarter, renewable the capacity per sustainable in the year for we of the about be in received produce plant million-gallon of sustainable business, Riverbank, million California. development aviation When of the Aemetis plant planned XX design built the is XX sustainable to year aviation and permits per operated only fuel,

future for for need to seeks carbon fuel global the jet billion-gallon sustainable rapidly year industry to per foreseeable expected aviation fuel The fuel reduce as XX fuel. emissions increase replace petroleum using to is renewal aviation the

the to with financing our operation accelerate now demand of SAF supply, innovative the and strong the we and pricing construction the for With limited with are customers SAF plant. airline structures discussing of use

the the airline production large-scale As to of facilities biodiesel fuel with delivery marketing is companies intensity building aviation In to production key carbon very needed companies in goals operations. that construct transitioning of announced expected the lower India one currently is in performance. X-year received Aemetis renewable India market all biofuels SAF that allocation X to business, an of meet States, late a supply a permits $XXX the OEMs we its United facility to oil few sales to or ambitious the to XXXX, we million not for

future. our serving foreseeable to July, and own operations OMCs impact Managing of The used is and positive to GE cost expected has This to pricing being India after business business the positive Chief joint for plants. Officer now of funds as that new the the power continue the build Executive Director the joined India The is venture purchase capacity in biodiesel renewable of the India its EBITDA plus growth. company by

and We next oil work sales for the with marketing on are the busy IPO biodiesel contract to process government-owned annual companies. India

consumers. $X $X.X for in per provide XX% fuel in of by blend fuel to per year Academy XX effective approval year, permanent margins of adoption recent to and expected showed costs positive ethanol retailers EXX that blend have economists million would ethanol adopted a this statement seek A day the the study provide ethanol Naval on billion California industry a EPA's about per approval lower-cost recent in or the the next business, For states and to Berkeley XX% $X.XX on savings UC will a as for gallon is be equal Aemetis to of temporary California. consumers, a that impact a ethanol summer,

we which revenue QX, carbon through storage the battery reduction of energy. decrease improve In carbon standard Keys flow the the our with energy an by our costs generates per energy low solar to gallon more cash ethanol facility solar intensity produced fuel plant, and commissioned using of on-site

energy cash LCFS next process increased improving have efficiency the credits. and by is MVR fossil value The depending million by XX% and and to installation the million detailed forward of are now equipment. plant moving design of MVR recompression at engineering is plant The step our the reduce system completed the procurement $XX at a the system vapor of or with cash Keys on major designed in gas we flow natural and flow to annually Keys $XX usage mechanical

efficiency million for Gas tax and $XX has and rewarded cost $XX direct The Pacific of Department California a project and from and Treasury Commission Program Department. Electric grants & been the Energy Incentive million of MVR of Energy the Engine U.S. about budgeted energy is credits

drill California to Our characterization carbon well. state Aemetis the capture has approval subsidiary received

drilling expected The to is conductor in and next phase months. pipe the first of installation X occur the of

and synergistic to as what are segments business Aemetis X create we all bioeconomy. summary, In a circular refer

Our we positive making empowerment company's to to a value for include commitment stockholders, building significant our employees for and serve. contributions partners the long-term communities and values the respect and of and business

Now our let's take some questions call Ali. from participants.

Operator

that. coming from music is that Mr. for was Instructions] Our know Manav Gupta McAfee. Thank [Operator I question Apologies you, don't UBS. coming first where from. with

Manav Gupta

mean Eric is We the So million credit and night saw last XX building. bank I and team, metric in tons. the building

million do in this prices are XX it end and X% think the time needed could we But by the if We November. like XX higher. bring at now X% the at look in optimistic XXXX, to credit be or a what probably credit million, tons. bank happen like rate we rate that But something is metric will check move you

of So I'm actually prices we get if X% it X% the amount move. to even to to or rate significant carbon what with trying go understand. That's won't take time

Eric McAfee

those response going X that Gap] necessary Resources a so to goals [Audio credit as know, that's of Board funds because, the think you price continued basically for and price postpones the electrification, be this low is We California hydrogen seeking emission kind projects.

increasingly as X% required minimum more credit companies on number, to the going oil now. required, but million minimum move buying to $XX see million to is they're I basically that not realize $XX they maximum, credits forward major the the think bank the

in X% it's executives, came credit. the pretty that in so with range CARB recent we'd looking out. be had no number idea X%, that million that discussions directly is they most And or their clear at X% But $XX

the even of in discussions I've had not with the was that So possibility range them.

them it think buildup entire almost inventory. in have I a good date November we the because see to gives it's So the year that

And XXXX decision, they have March don't clarity. had think I if in we that had would

for X. by thing numbers good up a hindsight, the in actually it's So this that will those us time being decision in built have November

Manav Gupta

is in this margins much Perfect. be you're in XQ like participate ethanol and stronger my you is that And should able margins? on ethanol uptick looking so my hopefully, in follow-up to the answer business U.S. and not quickly ethanol are hedged

Eric McAfee

you to Andy, take that? want

Andrew Foster

of uptick certainly We've the for margin in definitely seen month an July.

think softer. So little is yes, a be August going I to

EIA production, much As margin which our of you industry. the noted is that advantage with probably take everybody record showed yesterday, to numbers so, Manav, which environment trying typically the is too happens

right just has now, for with no, been the But of flat most of summer. down showing to price corn the

a anticipated have very growing except expect crops. corn the Midwest good. think Nebraska, been USDA crop maybe what significant pretty belt Midwest. is We the in expecting Upper of for larger at than if you look the the But Iowa, Illinois I conditions

price next inventories going I the think month. in So we'll build probably that, just because ethanol see given some the over softening are to

in program get But ethanol a and into been year. this export robust as the fall, we there's pretty

it margin environment in be much than the for favorable the to foreseeable QX. think expecting more future, was we're I

Manav Gupta

one should understand you time we dairy to online how Okay. process. I last the take certification do one My year-end by be digesters a is quick digesters complete year-end? volumes But because many will there is, XXXX. you can think how expect many by Eric,

Eric McAfee

XX digesters, multiple be dairy giving that will approximately we guidance we're dairies. have Because some it

We operating X now. have

construction. X under We have

So pursue about sure, total for completed but to have XX are cusp. we the on have we that

expecting XX that dairies in dairy dairies be of covered more. the we're currently will number So definitely operating range. the adding X we're X operating and we The though XX have that

XX%. about So

production to to you because run on what of revenues. that MMBtu can One that of increasingly rate guidance our people the the MMBtu we're directly get annual per is is our times multiply focus looking value is

then that quarter new release either probably rate. $XXX,XXX we quarter first about And a our in and press we'll or hitting per with ago late a issued so weeks few early run update fourth a year run rate

we'd that months be approximately now. project from did $XXX,XXX We XX at

is by the we to annual And the rather be are when and RNG the from LCFS we're exactly XXz have the I $XXX,XXX. runway So scaling calculate per guidance business. to about from think what year will revenues our on from revenue easy year company $XXX,XXX later then giving what this place, at in MMBtu it

Operator

Our is coming from Truist. Jordan with question Levy next

Jordan Levy

MVR the up project commentary. for, us getting maybe side the all things, a to in been next level Eric, I now. just in the give appreciate guess, some works the of thoughts maybe? you the project just for start on I around confidence while running has year that Can and

Eric McAfee

this of level equipment fabrication high the our what million permitting confidence. design completed we right deposits for Very Engineering has already has The been $X of is need first at do now. that's been paid. phase completed, to

a we XX So the we're project. with be expect cycle. we And fabrication within months, completed would would in that

So this is a third target. quarter XXXX

toward slips we to quarter, suggest implementation. But bit have always XXXX If a be shouldn't we by hold would a it we're that surprised. certainly, operating I little third loosely. quarter a

Jordan Levy

could about segment that especially talked of you out. the the if guidance, there phone But some on of importance the talked just and and XXz my you sorry in remarks, have then cutting And opening was -- to the the around outcomes. biogas of some thinking range could impacts this in on Great. already talk

Eric McAfee

XXz of is production There based is amount pretty the a is are the fuel issues credit calculation because in simple. upon the tax biogas X calculation produced.

this. number a you some up You and the essentially, whatever X take But intensity to fuel times its methods multiply it are of with carbon gallon you There's credits. is, variables. end of one those tax get

renewable one gas is years gallon consistent a originally with should standard meetings which renewable of Washington, the of the there pretty standard a May. is, gallon gallon gallon of the I for a the policy XX first tour D.C. one Number the natural did be ethanol. clear has the renewable fuel energy of Identification and from the XXXX. is RIN, density passed in The focus last density of of question what energy Renewable reference us energy a fuel to It's that in in This density in been ethanol, week is the of

should else. reference say, of joke, going to butter. we gallon whale X that And you throw And last arbitrary other be And oil to gallon change we're What as gallon meeting one ethanol. are in of be Michael of something I it EPA to melted I there XX I've use in if senators and that's had week, years don't et with every Regan because and USDA been rejecting single administrator, federal persuasive cetera. law should

the So meeting treasury department. with we of are members all are that the advising the committee of

it And for I'm units natural -- British is should consistent exited And they've approximately gallon. with Ethanol I've Thermal one million it MMBTUs BTUs, be XX,XXX defined as X that policy agreed, so Units. the thermal all far, sorry, should meeting ethanol. gas be British is prior way every

it's So a math. very simple

by -- the of you is. X subtract get XX what MMBtu $X divide You XX,XXX, density is about energy gallons million

are to might but pretty investors, simple That sound complicated you together. multiplying it's numbers because remember X

XX.XX. background being number music in first me? Yes. The Difficulty] here. guys you [Technical getting hear Hello? Can We're the some

in It's calculation carbon for years. model. second GREET California. been We've is the doing XX the rather simple. using intensity So just this It's

so And we model the has you from that XXth come is GREET LCFS year, this recent saying carbon We of just do our pathways treasury, what June guidance calculate know of biogas. your all for most because intensity. twice that

from XXX negative ranges to XXX. negative it So

up you XXX includes when our And or intensity $XX XX.XXx with MMBtu multiply XXX about negative carbon So more. a negative even with value intensity again, our intensity. of carbon calculation, carbon end per that we is at

going will it's carbon will describe simply GREET federal is. that's that I a that model be the IRS have intensity which GREET And the there's for are that be. twice prior different But be we issued ethanol table will to said that and the fuels what So to model, be confirms that what guidance law. waiting consistent with

lot, carbon range always that talking a to I and between $X.XX. is a the down that for to because investors there's describe of Now XXX we're $XX of values range intensity a negative values

range negative very cap IRS carbon the some though the carbon would intensity $X worst-case legislation that a a I the think change even in allow diesel XXX that. of not they intensity, $X.XX gallon per negative And wide to what it's itself that to personally a $X.XX. on it, be be scenario is and So could there determine. of has consider we discussion do

is the that what's be molecule, and So legislation. ethanol the the that's should expecting consensus that spend $X the decision-makers that's are this MMBtu. it be case, model, the value. will it if GREET much and of per that's the that so in just one have is be we XXz should implementation already reasons with the we time it And Remember, will only everybody

Indian to is the addition have MMBtu, Federal is of [ RIN, $X.XX top which that, net per dollars. RIN you DX RINs $XX would XX.XXX the roughly price In and on current ] the for of DX times be that

low provisional And range, we runs then standard credit add approval and intensity carbon our the at roughly the value the but in quadruple carbon which price would by fuel $XX doubling. the

will mandates year they LCFS position give IRS with then certainty and investors increased to that number the quarter calculate Is solid put can guidance that plus have. the us I So Jordan? we have fourth will that clear, against a in the per we credit number MMBtus think in a prices,

Jordan Levy

Yes, absolutely.

Operator

question next Matthew coming is with from Our Blair TPH.

Matthew Blair

you and switch over EBITDA an PFAD second to for quarter? segment in the able you on PFAD from switch switch and -- sunflower and to overall the biodiesel. quarter the about sorry, profitability is hopefully feedstock in feedstocks or to Could away oil level India question disclose talk were First this

Eric McAfee

can temperatures. winter ones colder oils that The handle time are

winter February. is And and January us December, time so the for November,

wintertime So sunflower second not feedstock. quarter oil any include did the the of

well a can multimillion dollar various to environment disclose EBITDA Second point show in -- numbers. calculations that quarter, we're we continue the because you disclosures was but our we competitive don't see it in as in that grow would that the grow is and India, margins EBITDA revenues expect as to grow a

Matthew Blair

the in any second then that MVR for second And million your clarify the the that of came good. million $XX.X wanted is $XX.X was of of Sounds the credits any that side, cash your that tax EBITDA quarter? system, I on quarter? the to IRA in for recognized either balance ethanol And through for

Eric McAfee

million way the is a $XX.X that No. credit. the is, this Unfortunately, XXC

period, the you think So it's run a hitting you facility, demonstrating the it's the then to it's of tax efficiency get it complete that I investment credit, and tax your credit. have energy designed it -- to for construction is targets do XX-day

about So of a go actually credits. show cost we sale XX% the that all on between will not that to million, less all-in sell things the $XX.X

in would year expect being credit other million up about fourth And show to that the pocket that as quarter plan. of would things probably next we the quarter if in cash $X to go of according tax sale So current category. income

Matthew Blair

QX wrap just up, if then to on half question circling vote that even X, LCFS And X, XXXX? November interesting. back to your CARB My on I something 'XX helpful. back January would implementation which the were like comments, holds year? could That's into Okay. or Or it is, up the pretty expect thought to flip start of is the this you

Eric McAfee

of in credits. in see that the is basically it's traders much think -- because But step-down talking slip XX there's to that. credits me, to past is $XX in of major I the the XXXX see big of wouldn't company that sort first XXXX, what important to million looks reasons oil the a surprised was if X, lot react more buy XXXX, strong is a how will Manav a a million will you way To be is to LCFS that they about stepdown hurry inventory July credits it's credit be like in it about excess think. price quarter. not immediately I going to have

company I of XXXX projection in major that's affect the going to to the the mostly and what's price. so it's response happen going and think to that, And oil XXXX

Operator

you. Thank

Dayal Amit Our next from coming is HC question Wainwright. with

Amit Dayal

to we next breakdown Eric, us you you from that $XX X said the $XX segments? year. of sort how Could million get cash starting in positive operating of a million potential give flow annual

Eric McAfee

alone that an do get LCFS business plus $XXX $XX $XX we could quite million expecting there. ] the calculations $XX us entire [ $XX million biogas or we're of XXX rate the actually frankly, I average gets if mean, plus The credits, times

So MVR, at million. which million actually $XX to one will business But have spending maybe our the $XX even quarters of million $XX on is least values. X of in ethanol of excess benefits LCFS quarter,

Our should to expanding on its India of in things business some going the in be time, expanded looking because and the winter we're wintertime. have contract margins

all you cash significantly So it excess up you're flow. in and actually add of $XX positive million of

was the it $XX putting So of the million into us and calculation. taking the unknowns some

Amit Dayal

Yes. India. renewal I about the was asking in

New time, product amount contract. bigger Last or million it longer-term contract? time be think you was it renewal up. $XXX coming a a for similar could for duration X-year this even Do

Eric McAfee

For we first conservatism $XX previously we fulfilling the only reasons this. contract. contracts, because used in This large one a one was this of $XXX of of million. had plant million is capacity XX%

capacity So the plant. increased of the we have

quarter year. planning are know, expansion to also capacity, continue frankly, this the do another fourth may of you to in we As

to So expect order to utilizing in take continuing be it we and on would much of our larger capacity, larger to demand. we're contract, more existing expand a

as They're over little XXX currently Just gallons billion running about reminder, X% year. per per a is at gallons a X.XX million year. a blend

to to companies to is try and billion X X the seek gallons the So marketing that continue billion-gallon gap. market oil fulfill short

Amit Dayal

Understood.

get to the you there. sort the I plan... Just last IPO still one work this you Or mean, are formal going? process of any actually in on have started

Eric McAfee

contacted banking firms. have investment We already

years the investment place leaders company that our financial and have inside way guidance. the the the trended the results have us in makers gave We past over

to course with specifically We'll the closely Investment the in would working actively timing. determining lead guidance quarter. I this process. and bank we're on so over And narrowing of give down be Bank the that the

The expect I advice India the process right now. what just going timing Sensex earlier be, least but do that's will brilliantly or we're to and the at so through that market continues we be to think that

Amit Dayal

things? you're So is everything this of with into if planning a end Or it line catalyst? falls type year how of is potentially XXXX XXXX

Eric McAfee

the I public surprised an back investment already banking it would company. fast the certainly firms can XXXX, we're we be paperwork strong was if audited because with if notion, move a that came

done work the need us. much due So very be process is a And of It's investment to does basically process. the that does by bank not the diligence. quick things India, the delays

of So the yes, an fourth half is next year. but as I quarter, it's possible we could My don't do in expectation. that expectation first put

Operator

with Our coming Dave Storms next question Stonegate. from is

David Joseph Storms

the about First congratulations that. and the on the excited all, that? the can on just inclusion quarter Is Very first asset taken color give question in of any in you is RX. My on us that. disposal more there about loss

Eric McAfee

say Did asset you disposal?

David Joseph Storms

Yes. Loss on asset disposal.

Eric McAfee

Vapor it one and a Mechanical unit running should and called that had move had the the forward we do expand launched savings integrated could it's the energy the other which we goals than rather phase Yes, Compression we of Recompression, phase fabrication unit, commissioning not equipment month, because we and put X ZEBREX Vapor place the decision and Mechanical units. and that made do executive the in exactly operated

ZEBREX. we investment our against So reserve in decided to

places the to happen our took amount able a utilize but to we use in we potentially view, as is will well the of a be equipment, fuel we which then wrote entire if off operation other We in in that as jet that's plant, equipment conservative some and benefit. just that

David Joseph Storms

clear. year? half sticking the first should of in the Is you with scheduled Understood. of half aware all that most in when was there we the the of Or then upgrades be That's did handled of back ethanol. right downtime any And just XXXX?

Eric McAfee

want to you do Andy, talk?

Andrew Foster

spring. I integration downtime is move probably, off be have some last the anything do of to did It like likely a try a that as say, turn days the to won't we along. that continue had we We to going We It downtime. some our work of month. significant we we're will plant when amount for of would

things that. that. But that, month you're that be like outage and anything there's a X won't X be to likely systems dramatic long anything cutting there, anything like when but won't It or would be of be to like and over it days here

Operator

Ascendiant with Our next Capital. question from Woo is Ed coming

Edward Woo

for the oil on all you about that and relatively pricing just and Congratulations outlook prices talk the Yes. it? progress. impact margin the stable oil prices, your Can ethanol on have

Andrew Foster

suggest term, last for see because near program going was think particularly. to environment in I few I'm Gulf dented the over in the I production think, we by we'll bit numbers the August, of the and that storms large the a said, big just the Texas as weeks. The that posted export ethanol I little some margin softening

move see recover we expect that We as into September. to start to

right up I think playing now. catch they're

I quarter, think get some appear that you'll crop looks to can on is fourth It very September it disconnections right going typically Those Depending like be the strong now, see and And then we October there's a change. strong. the the look doesn't around more corn program. into as things harvest, bean in favorable. for market.

when get issues. when margins December, that's Typically, into demand of soften to just really because start we

rebound So quarter, some see end and going I to would the we're expect little going would softening, of typical and the to say that for to into fourth August, get seasonal September see of in again. I see that bit we're a as October we softening then

Edward Woo

wish guys luck. good you I

Operator

at reached have the We this end of questions time. our

for management like comments. would So back closing to to the I turn floor

Eric McAfee

opportunities Aemetis. the joining you us company of participating stockholders Thank for to the We forward on the page is presentation talking growth and the Aemetis about the review analysts, website. at in with today. home to that posted you Aemetis others Please Aemetis look

Todd Waltz

of section update. earnings a this Please and Aemetis the where Thank conference you version version of earnings the Investors visit an audio review Ali? Aemetis attending website post business we'll Aemetis written today's and for call.

Operator

Thank you. today's This concludes teleconference.

disconnect may thank and participation. at we this time, you for your You lines your

Aemetis (AMTX) 1 Aug 242024 Q2 Earnings call transcript