Pacific Ethanol (PEIX) reported losses that were much worse than expected this morning as the ethanol companies continue to get hammered on plummeting gasoline prices.

Excluding a charge related to asset impairments, the company reported a loss of .51/share while analysts had expected a loss of .15/share.  Sales did increase 56% in the quarter but the cost of corn has risen much faster than the price of ethanol sending margins into the red. 

“We saw … Read the rest