Gevo reported record third-quarter revenue of $82.953 million, nearly double year-over-year, with net income of $22.714 million. The quarter included about $29.4 million from Canadian Clean Fuel Regulation credits and $20 million in non-recurring banked carbon-credit revenue. The company also contracted $70 million in Section 45Z tax credit sales for 2026, covering most expected ethanol and RNG credits. Despite the strong quarter, Gevo's nine-month net loss widened to $175.9 million from $27.5 million, driven by asset impairments and credit loss provisions. Cash and equivalents fell to $67.6 million, while debt rose to $167.8 million. Gevo still expects adjusted EBITDA above $90 million for 2026 and above $70 million for 2027, and plans to double ethanol production and carbon capture from 2028, though financing remains in progress.
