PEIX share of the Madera plant is 20%. That's 8million gallons at a margin of at most 25 cents per gallon. Optimistically might bring $2 million to the bottom line ... About 3 cents per share.
Doesn't matter how well ethanol does....PEIX doesn't own enough of it to create meaningful earnings after the huge dilution this year to the floorless convert holders.
Plus, today's ethanol margins are about as high as they can go. Any higher and lots of idled plants will be brought back on line. Too much capacity was built in 2005 - 2007.
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