Biofuel Energy (BIOF) reported terrific growth and reached a milestone in its latest quarter last night and traders are bidding up the stock more than 14% today on the news. The company reported an EPS of .21/share on revenue of $120 million. It’s the company’s first profitable quarter and a big improvement over the year ago period when they reported a loss of .43/share.
An impressive quarter, but CEO Scott Pearce warned that contractions in margins due to the narrowing of the spread between the cost of corn and the price of ethanol is presenting challenges this quarter.
BIOF is currently in the process of carving out a new base after a torrid run last year.