Rentech (RTK) Vaults Over 50% After Reporting Record Earnings

Wow, what a week for Rentech (RTK).  The company announced late last week that their synthetic fuel was approved for use in jet fuel and this morning they’re announcing record quarterly profits of .22/share on revenues that surged 50% over the year ago quarter to $91.4 million, sending the stock soaring again over 50%.  The company is attributing the record quarter to higher product pricing and favorable weather conditions and now expects that EPS will be positive for fiscal year 2009, which would be first for the company.

Dan Cohrs, CFO of Rentech, commented, “We are pleased to report our first profitable quarter ever. The cost reductions we implemented in addition to exceptional management of our fertilizer business have provided us with a foundation from which we can continue to execute on our alternative energy strategy.  We believe Rentech is well-positioned to capture the opportunities that have resulted from the approval of our jet fuel for commercial aviation as well as from the renewable power and low carbon fuel mandates in California.”

One thought on “Rentech (RTK) Vaults Over 50% After Reporting Record Earnings”

  1. i knew it all along! i got in on aug 5 when it was in the 40 cent range. yesterday it closed at 1.30!!!!!!

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