Company Quick10K Filing
Pacific Ethanol
S-1 2020-01-21 Public Filing
10-K 2019-12-31 Filed 2020-03-30
10-Q 2019-09-30 Filed 2019-11-12
10-Q 2019-06-30 Filed 2019-08-07
10-Q 2019-03-31 Filed 2019-05-03
10-K 2018-12-31 Filed 2019-03-18
10-Q 2018-09-30 Filed 2018-11-02
10-Q 2018-06-30 Filed 2018-08-09
10-Q 2018-03-31 Filed 2018-05-10
10-K 2017-12-31 Filed 2018-03-15
10-Q 2017-09-30 Filed 2017-11-09
10-Q 2017-06-30 Filed 2017-08-09
10-Q 2017-03-31 Filed 2017-05-10
10-K 2016-12-31 Filed 2017-03-15
10-Q 2016-09-30 Filed 2016-11-08
10-Q 2016-06-30 Filed 2016-08-05
10-Q 2016-03-31 Filed 2016-05-09
10-K 2015-12-31 Filed 2016-03-15
10-Q 2015-09-30 Filed 2015-11-06
10-Q 2015-06-30 Filed 2015-08-10
10-Q 2015-03-31 Filed 2015-05-11
10-K 2014-12-31 Filed 2015-03-16
10-Q 2014-09-30 Filed 2014-11-12
10-Q 2014-06-30 Filed 2014-08-14
10-Q 2014-03-31 Filed 2014-05-09
10-K 2013-12-31 Filed 2014-03-31
10-Q 2013-09-30 Filed 2013-11-12
10-Q 2013-06-30 Filed 2013-08-07
10-Q 2013-03-31 Filed 2013-05-15
10-K 2012-12-31 Filed 2013-04-01
10-Q 2012-09-30 Filed 2012-11-14
10-Q 2012-06-30 Filed 2012-08-14
10-Q 2012-03-31 Filed 2012-05-11
10-K 2011-12-31 Filed 2012-03-08
10-Q 2011-09-30 Filed 2011-11-04
10-Q 2011-06-30 Filed 2011-08-11
10-Q 2011-03-31 Filed 2011-05-13
10-K 2010-12-31 Filed 2011-03-31
10-Q 2010-09-30 Filed 2010-11-15
10-Q 2010-06-30 Filed 2010-08-16
10-Q 2010-03-31 Filed 2010-05-14
10-K 2009-12-31 Filed 2010-03-31
8-K 2020-05-12 Earnings, Exhibits
8-K 2020-05-05 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2020-05-04 Off-BS Arrangement, Exhibits
8-K 2020-04-17
8-K 2020-04-15 Enter Agreement, Exhibits
8-K 2020-03-16 Enter Agreement, Earnings, Off-BS Arrangement, Officers, Exhibits
8-K 2020-03-10 Officers
8-K 2020-02-28 Enter Agreement, Exhibits
8-K 2020-01-15
8-K 2019-12-29 Enter Agreement, Off-BS Arrangement
8-K 2019-12-20 Enter Agreement, Off-BS Arrangement, Sale of Shares, Exhibits
8-K 2019-12-16 Enter Agreement, Exhibits
8-K 2019-11-15 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-11-07 Earnings, Shareholder Vote, Exhibits
8-K 2019-09-19 Enter Agreement, Exhibits
8-K 2019-07-31 Earnings, Exhibits
8-K 2019-07-31 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-07-17
8-K 2019-07-15 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-06-20 Other Events
8-K 2019-05-01 Earnings, Exhibits
8-K 2019-03-21 Enter Agreement, Off-BS Arrangement
8-K 2019-03-12 Earnings, Exhibits
8-K 2018-10-31 Earnings, Exhibits
8-K 2018-08-08 Earnings, Exhibits
8-K 2018-06-14 Shareholder Vote
8-K 2018-05-08 Earnings, Exhibits
8-K 2018-03-30 Enter Agreement, Leave Agreement, Off-BS Arrangement, Other Events, Exhibits
8-K 2018-02-28 Earnings, Exhibits

Pacific Ethanol Financials

PEIX Metrics, Comps, Filings

Quarterly | Annual

Business

We and the ethanol industry as a whole experienced significant adverse conditions throughout most of 2018 as a result of industry-wide record low ethanol prices due to reduced demand and high industry inventory levels. These factors resulted in prolonged negative operating margins, significantly lower cash flow from operations and substantial net losses. In response to these adverse conditions, we have initiated and expect to complete over the next six months a strategic realignment of our business. Our primary focus is the potential sale of certain production assets, a reduction of our debt levels, a strengthening of our cash and liquidity, and opportunities for strategic partnerships and capital raising activities, positioning us to optimize our business performance. We believe we have excellent production assets with values well in excess of our near term liquidity needs. We are also confident in our strong relationships with our financial and commercial partners and believe we are taking the appropriate steps to increase our shareholder value to benefit all of our stakeholders long-term and to provide greater financial flexibility to execute future strategic initiatives.

We believe our strategic realignment, if implemented timely and on suitable terms, will provide sufficient liquidity to meet our anticipated working capital, debt service and other liquidity needs through at least the next twelve months. However, if we are unable to timely implement our strategic realignment on suitable terms, if margins do not improve, or if we are unable to further defer principal and/or interest payments or extend the maturity date on our debt, we will likely have insufficient liquidity through the next twelve months, or earlier depending on margins, operating cash flows and lender forbearance. In addition, if margins do not improve from current levels, we may be forced to curtail our production at one or more of our operating facilities. See “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources”.

We are a leading producer and marketer of low-carbon renewable fuels in the United States.


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Equity

Income Statement ($MM Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($MM Quarterly)

Ops, Inv, Fin

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Advanced Emissions Solutions (ADES) 264,786 10% 4.6 19% 178,728 71,428 64,665 6,594 33,437 64,359 294,979
Venator Materials (VNTR) 264,368 12% 17.5 -3% 2,330,000 1,485,000 2,150,000 249,000 -66,000 56,000 977,368
NL Industries (NL) 198,924 31% 2.2 4% 555,348 231,887 122,009 37,939 24,388 28,401 61,282
Flotek Industries (FTK) 124,498 -5% 0.4 16% 249,357 37,646 143,276 -6,767 40,276 48,367 17,504
LSB Industries (LXU) 103,000 8% 10.4 -4% 1,129,781 846,285 385,904 29,673 -48,748 47,345 492,970
Tantech Holdings (TANH) 50,782 0% 134,194 24,208 0 0 0 0 40,912
Gevo (GEVO) 47,193 -55% -1.5 -23% 95,468 18,548 17,599 -9,707 -21,845 -16,996 26,249
Gulf Resources (GURE) 46,631 49% 36.6 -6% 287,947 21,824 10,597 5,166 -18,671 -1,600 -58,587
Flexible Solutions International (FSI) 29,344 31% 7.5 5% 33,513 12,613 26,462 8,265 1,778 3,603 26,879
Delta Technology Holdings (DELT) 13,293 0% 67,175 89,982 0 0 0 0 12,275
Synthesis Energy Systems (SES) 6,178 87% -1.0 -125% 9,010 7,748 422 369 -11,219 -9,879 9,502
Pacific Ethanol (PEIX) 28 -3% -7.4 -12% 652,860 380,345 1,067,264 -34,155 -79,872 -30,392 225,492
Aemetis (AMTX) 21 5% -15.2 -33% 96,683 243,435 149,896 6,904 -31,823 -12,871 196,229
Methanex Corporation (MEOH)
Hydrogenics (HYGS)
Green Plains Partners (GPP) 0% 3.4 26% 119,758 194,696 85,319 0 31,089 40,409 139,072
Urban Tea (MYT) 0% 10,847 1,695 0 0 0 0 -4,669
Westlake Chemical Partners (WLKP) 32% -0.0 23% 1,407,056 444,325 1,154,798 369,460 322,567 403,458 -18,647
Element Solutions (ESI) 43% 8.3 0% 4,273,100 2,152,600 1,859,600 799,200 4,200 160,000 1,321,700
Sinopec Shanghai Petrochemical (SHI) 0% 44,385,897 13,923,456 0 0 0 0 -8,719,811

Balance Sheet ($'000)2011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash9,83216,8088,9144,9815,66618,6717,5864,1946,9839,1755,1517,84625,92356,25662,08442,27449,26253,05619,20731,67340,63968,59073,73491,45456,92349,48957,38062,58156,09326,62721,75116,51318,921
Accounts Receivable34,28128,24428,14029,12224,27927,51326,05132,16936,19227,10235,29651,42643,06330,47434,61227,34228,59151,37963,41471,94668,82486,27564,01846,43872,28280,34474,21772,51867,64467,63678,40268,01469,297
Inventory20,85122,42916,13114,43716,30314,37416,24417,53619,14813,72923,38628,29727,58020,26318,55017,84018,87148,23869,26265,92864,98860,07058,04563,08771,81961,55070,26267,30554,76657,82062,73177,49062,509
PP&E164,483161,637159,617157,610155,457153,109181,093147,863150,915156,309197,241153,973155,528155,771209,645160,179160,828472,632461,275454,775452,478577,613460,192453,011509,369658,356502,545495,274488,591673,003472,735462,534442,810
Assets244,700245,443232,476221,649215,031227,662214,963221,424230,397226,469241,049260,007272,713280,132299,502275,225282,946668,034643,199665,720657,126708,238681,754684,577730,650720,296724,479723,232688,547659,981699,021685,820652,860
Accounts Payable9,8539,2345,5198,4978,2008,4845,1049,72910,5718,57911,07116,11016,61912,33813,12214,82320,30741,44727,08023,84426,79037,05132,49028,23441,17839,73844,67140,96644,77448,17650,53145,09347,068
Long-Term Debt126,57410,89694,43993,71899,769119,095121,282122,329119,593110,96799,15871,64580,13730,47534,53317,00325,559209,759205,377217,115218,986201,862199,504216,624243,921244,425248,147260,476236,805233,505241,409247,637244,385
Liabilities148,610133,314113,212116,283119,973145,565142,056153,326156,525146,314146,148150,408104,81667,94981,52061,32872,376297,323284,615302,105296,644289,977276,032288,153333,749336,596349,853362,971337,025340,616389,662384,500380,345
Stockholders' Equity11,24027,06246,97442,11439,20957,64452,56258,70165,51972,26689,218101,907158,811208,295213,507209,551210,570370,711358,584363,615360,482387,890376,200367,999368,815356,439349,021336,352329,403299,767291,032283,637256,579
Income Statement ($'000)2011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Revenue214,593271,649241,798197,719205,447215,860197,018225,459243,407233,880215,290254,543341,807275,573256,152206,176227,621380,622342,373422,860417,806441,719386,340405,202445,442395,271400,027410,522370,407355,803346,301365,160
Cost of Revenue213,310263,461234,434205,196210,347218,300201,725224,613233,156230,357193,694215,998273,209257,587237,774207,163221,367388,002341,304405,156411,442415,024392,113403,549433,377397,285396,665411,795366,639334,415358,092342,330379,976
Gross Profit1,2838,1887,364-7,477-4,900-2,440-4,70784610,2513,52321,59638,54568,59817,98618,378-9876,254-7,3801,06917,7046,36426,695-5,7731,65312,065-2,0143,362-1,2733,768-21,021-2,2893,971-14,816
R&D
SG&A4,0593,4953,6853,3783,1242,8982,7414,0054,2402,5114,3723,6705,4744,3924,7314,9053,9937,4468,3176,1485,9717,8875,4508,7628,7208,5849,3159,4938,9708,2356,7088,687
Tax000000000003,27010,4663,1631,508-2,700530-3,9254,534-2450-736305,598131680575000
Net Income7504,5697,859-4,953-2,629-5,971-5,504-5,4541,568-4,9718,593-8,81716,9664,74812,518-4,3801,052-14,663-13,2265,086-3,51813,077-12,636-8,841-202-13,285-7,841-12,908-7,514-32,010-12,890-7,646-27,326
Cash Flow ($'000)2011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash Operating6,4393,610-2,752-3,590-5,080-9,424-6,4542,7098,61822,87628,45424,92012,0827,3264,041-28,805-5,16213,92325,36812,0922,9991,5098,910-4,00421,171-15,027-10,727-1,449
Cash Investing-95-10,023-896-709-10,510-158-1,948-806-1,018-1,833-4,702-9,461-3,263-8,178-3,9888,668-4,966-6,457-4,665-4,111-2,118-9,171-4,357-2,983-3,534-1,112-424-608
Cash Financing632-1,481-2854,98428,595-1,5035,010886-5,408-18,348-5,67514,874-2,991-18,9586,93523,931-23,3771,5007,248-2,83716,8394,5593,33812,188-24,12511,2635,9134,465