EarningsQ2 2026 Earnings Report
MX:GEVO Q2 2026 EPS Results
Actual EPS-$0.18
Consensus EPS-$0.38
Beat/MissBeat by +$0.20
One Year Ago EPS$0.18
MX:GEVO Q2 2026 Revenue Results
Actual Revenue$844.57M
Expected Revenue$842.73M
Beat/MissBeat by +$1.83M
YoY Revenue Growth+7.11%
Earnings Announcement Details
QuarterQ2 2026
Date08/06/2026
TimeAfter Close
Conference CallThursday, August 6, 2026
MX:GEVO Upcoming Earnings
Gevo's next earnings date is estimated for November 11, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:GEVO Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented meaningful operational and commercial progress: revenue growth, a ~70% increase in six-month gross profit, CFR pathway approval in Canada, an upgraded 2026 adjusted EBITDA outlook to >$60M (double prior guidance), and clear near-term debottlenecking and expansion plans. These positives are tempered by a large one-time $176M impairment that produced a GAAP loss, higher non-impairment operating expenses, dependency on timely monetization of 45Z tax credits, and outstanding financing/offtake execution risks for larger expansion and ATJ projects. On balance, management demonstrated execution progress and improved cash/EBITDA trajectories, while acknowledging a set of execution and timing risks that remain to be addressed.Company Guidance
Quarterly Revenue Growth
Q2 2026 revenue of $47 million versus $43 million in Q2 2025, a 7% year-over-year increase; first half 2026 revenue grew 23% to $89 million versus H1 2025.
Material Gross Profit Improvement (6-Month)
Gross profit for the first half of 2026 was $36 million versus $21 million in the same period last year, an increase of ~70% driven by a full 6 months of benefit from the Red Trail acquisition and optimization of carbon and 45Z tax credit generation.
Upgraded Adjusted EBITDA Outlook
Company now expects full-year 2026 non-GAAP adjusted EBITDA of more than $60 million, doubling the prior outlook of ~$30 million; Q2 adjusted EBITDA was $11 million.
Canada CFR Pathway Approval and Banked Credits
Received Canadian Clean Fuel Regulations (CFR) pathway approval for low-carbon ethanol with carbon capture and sequestration, providing access to a >1 billion gallon/year compliance market; approval applies retroactively and ~17 million banked CFR credits have already been sold to be recognized in Q3.
Carbon Business Run Rate and 45Z Tax Credit Generation
Management believes the carbon business can deliver over $30 million per year on a run-rate basis (excluding banked CFR sales); expects to generate >$70 million of 45Z tax credits in 2026 versus $52 million in 2025, and has already closed $20 million of 45Z sales post-quarter with ~$50 million targeted to be monetized by year-end.
Near-Term Debottlenecking Progress
Debottlenecking at Gevo North Dakota remains on track and on budget to increase low-carbon ethanol capacity to ~75 million gallons/year by end of 2026 (from ~67M), representing a ~10-15% near-term uplift; debottlenecking CapEx cited ~ $24 million.
Planned Doubling of North Dakota Capacity
Stage 2 targets doubling Gevo North Dakota to ~150 million gallons/year with associated carbon capture and tax incentive opportunities; financing efforts are on track and targeted to be completed in H2 2026 with expected completion of the expansion in 2028 after construction.
ATJ-30 (Project Northstar) Engineering Progress
FEL-3 engineering for ATJ-30 delivered on schedule with an updated capital estimate of $600 million (within FEL-2 expected range); core alcohol-to-jet process modules were within 2% of prior estimates, improving confidence in process repeatability.
Improving Cash Generation and Liquidity
Ended Q2 with $58 million in cash, cash equivalents, and restricted cash; additionally reported ~$16 million of 45Z monetization proceeds collected since quarter-end; management expects operating cash flow to be neutral to positive for full-year 2026 with meaningful positive cash flow in H2.
Operational Execution and EBITDA Improvement Initiatives
Management reported implementation of an 'EBITDA challenge' program identifying over three dozen opportunities (about half low-hanging fruit) with ~50% implemented to date; these operational improvements contribute to expected Q3/Q4 financial benefits.
MX:GEVO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed