There are few bright spots in the world of green energy these days and while Green Plains Renewable Energy (GPRE) can’t be called a green energy pure play and I’m not a big fan of ethanol, they are profitable and seeing significant growth.  So there ya go.. we’ll take the positives in the green energy space when we can get it. 

===> Click Here For Your FREE Daily Green Plains Technical Analysis

The company beat analyst estimates tonight reporting an EPS of .32/share on revenues of $957 million which compares with the analyst estimates of .28/share on revenues of $873 million.  That represents quarter over quarter growth of 39% and 93% respectively so indeed an impressive quarter.  Traders like the report and are bidding the stock up nearly 7% in after hours trading. 

Here are some highlights of comments made by CEO Todd Becker:

– all segments performed well

– non ethanol operating income was 40% of the total as company strives to diversify away from ethanol production (smart move)

– ethanol margins more robust than expected which resulted in highest level of operating income for ethanol segment this year

– continuing to invest in algae production for human nutrition, animal feed and biofuels

Technically, shares of GPRE are still in a downtrend but recently held critical support around the $8.40 level and have moved up 25% off that level in just a few weeks.