Gevo Stock Jumps 31% After Record Third-Quarter Results

Gevo (Nasdaq: GEVO) shares jumped 30.9% on Wednesday, Nov. 11, after the company reported record third-quarter results the previous afternoon. The stock closed at $1.82, up from a previous close of $1.39, on volume about 12.1 times its usual level, while the S&P 500 ETF (SPY) rose 1.32%.

Results the company calls its strongest yet

In an 8-K accepted at 4:07 p.m. ET on Nov. 10, Gevo furnished its earnings release for the quarter ended Sept. 30. The release reported revenue of $83 million, net income attributable to Gevo of $23 million, or $0.09 per diluted share, and non-GAAP Adjusted EBITDA of $44 million. Chief Executive Paul Bloom called it "the strongest financial performance to date." In the same quarter a year earlier, the company posted a net loss of $8 million and Adjusted EBITDA of $7 million.

Outlook raised, with one-time help

Gevo now expects full-year 2026 Adjusted EBITDA to exceed $90 million and 2027 Adjusted EBITDA to exceed $70 million. The company said the 2026 figure includes non-recurring revenue of about $20 million from banked Canadian Clean Fuel Regulation credits recognized in the third quarter. The release also cited a model update for renewable natural gas that it expects to add more than $10 million a year of Section 45Z value, subject to third-party validation.

Nine-month figures were much weaker

The longer view is less favorable. In its 10-Q, accepted at 4:56 p.m. ET on Nov. 10, Gevo reported a net loss of $172.5 million for the nine months ended Sept. 30, including a $135.8 million impairment of long-lived assets. The company ended the quarter with $67.6 million in cash and cash equivalents. Gevo also said its carbon business should generate more than $50 million of revenue in 2026.