BenchMark Energy Corporation (OTC Pink:BMRK) began providing earnings guidance for its third and fourth quarter earnings based upon contractual agreements for glycerin purchase and delivery.
“BenchMark [Energy Corporation's] revenue has recovered significantly from the second quarter, reflecting management’s efforts to build a solid operational foundation. We transacted purchases and sales for 160,000 gallons in the third quarter and 1,500,000 gallons for the fourth quarter, equating to 4.5% of the expected domestic U.S. glycerin supply of 130 million gallons,” said BenchMark Energy Corporation’s CEO Mark Bateman.
***Including the previously announced Chinese contract, the Company has contractual commitments to sell at least 504,000 gallons monthly starting in the fourth quarter 2013 and continuing throughout 2014. This means that the Company would account for 6 million gallons of the domestic U.S. glycerin supply, or approximately five percent (5%) of the supply using expected 2013 domestic output.***
Forecasted transaction volume based upon signed and scheduled contractual deliveries are:
2013 Q3 160,000 gallons
2013 Q4 1,500,000 gallons
The Company’s historical transaction volumes are:
2012 FY 480,000 gallons (annual)
2013 Q1 36,000 gallons
2013 Q2 84,000 gallons
Revenues – Anticipated to be $250,000 to $300,000 for the third quarter, and $1,000,000 to $1,100,000 for the fourth quarter 2013.
Earnings per share - Anticipated loss of $0.01 to $0.02 per share for the third quarter, and a profit of $0.01 per share for the fourth quarter 2013
Capitalization – 24,297,121 Common Stock undiluted shares outstanding per its second quarter disclosure on OTC Markets’ website.
For more information, visit http://benchmarkenergy.com/.