Verasun (VSE) Expects To Post Unexpectedly High Third-Quarter Loss
Posted by Alison Kroulek | # |
08:25:28 am on September 17, 2008

Verasun, an ethanol producer, just filed a notice with the SEC indicating that their third quarter losses will be much higher than expected. Originally, the company was expected to post a net loss $2.4 million. However, the regulatory filing shows that that the company expects a net loss of between $63 million and $100 million. The company’s stock is expected to lose 40 to 65 cents per share as a result.

In the filing, Verasun attributes the loss to contracts that required it to purchase corn at above-market prices.

More on this topic (What's this?)
VeraSun goes stupid
Buyout value of VeraSun Energy
The Ethanol Bubble Just Popped
Read more on Verasun Energy at Wikinvest

Related posts:


Tags: , ,
 

If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.

Comments  

[...] Downgraded from Outperform to Perform by OppenheimerShares of VSE are plunging nearly 70% today on news that the company is expected to post a large loss, with no support levels in [...]

 
Leave a comment

(required)

(required)