UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file number 001-37363 Enviva Inc. (Exact name of registrant as specified in its charter) Delaware 46-4097730 (State or other jurisdiction (I. ...

Enviva Inc. (NYSE:EVA) Q2 2022 Earnings Conference Call August 4, 2022 10:00 AM ET Company Participants Kate Walsh - Vice President-Investor Relations John Keppler - Chairman & Chief Executive Officer Shai Even - Executive Vice President & Chief Financial Officer Thomas Meth - President Conference Call Participants Jordan Levy - Truist Securities John Mackay - Goldman Sachs Elvira Scotto - RBC Capital Markets Pavel Molchanov - Raymond James Operator Good morning. And welcome to the Enviva's Inc. Second Quar ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file number 001-37363 Enviva Inc. (Exact name of registrant as specified in its charter) Delaware 46-4097730 (State or other jurisdiction (I.R.S. ...

Financial Data and Key Metrics Changes - Net revenue for Q1 2022 was $233 million, a decrease of 3% year-over-year from $241 million in Q1 2021, primarily due to a 4.6% decline in metric tons sold [24] - Adjusted EBITDA for Q1 2022 was $36.5 million, down from $46.3 million in Q1 2021, reflecting the impact of operational challenges and increased costs [28] - Net loss for Q1 2022 was $45.3 million compared to a net loss of $1.5 million in Q1 2021, influenced by Omicron-related operational impacts and costs from the war in Ukraine [27] Business Line Data and Key Metrics Changes - Adjusted gross margin for Q1 2022 was $50.7 million, up 3% from Q1 2021, with adjusted gross margin per metric ton increasing to $46.25 from $42.73, driven by contract price escalators tied to inflation [26] - The company expects the shape of adjusted EBITDA to be back half weighted, projecting that two-thirds of annual adjusted EBITDA will come from the second half of the year [30] Market Data and Key Metrics Changes - The company is experiencing strong demand for its wood pellets due to geopolitical factors and energy price volatility, leading to durable pricing increases for current and future agreements [10][22] - The contracted revenue backlog remains over $21 billion with a weighted average contract maturity of more than 14 years, indicating strong market positioning [35] Company Strategy and Development Direction - The company is revising its 2022 adjusted EBITDA guidance to a range of $230 million to $270 million, down from $275 million to $300 million, due to lower production and delayed plant startup [11] - Enviva is expanding its production capacity aggressively, with plans to add six new plants over the next five years, targeting a doubling of production capacity from 6.2 million metric tons to over 13 million metric tons per year [40][38] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about resolving operational issues related to the pandemic and supply chain disruptions, anticipating a significant improvement in the second half of 2022 [10][30] - The company highlighted the importance of energy security for customers, which is driving demand for its sustainable biomass products amid high fossil fuel prices [21][22] Other Important Information - The company declared a dividend of $0.905 per share for Q1 2022, representing a 15% increase year-over-year, and reaffirmed its 2022 dividend guidance of $3.62 per share [15] - The company is partnering with a leading logistics service provider in Germany to develop an inbound logistics supply chain, enhancing returns from the emerging market [19] Q&A Session Summary Question: Update on the potential market opportunity in Germany - Management expressed excitement about progress in Germany, driven by government policies aimed at ending coal use, and expects significant follow-on opportunities in both utility and industrial sectors [49][51] Question: Confidence in overcoming first-quarter challenges - Management highlighted the temporary nature of first-quarter challenges, citing improved staffing and logistics capabilities moving forward [88] Question: Update on MOUs and customer contracts - Management noted that the relaxation of travel restrictions has accelerated contract developments in Japan and emphasized the importance of MOUs as a first step toward long-term agreements [64][66] Question: Diesel price exposure and impact on Q1 results - Management indicated limited direct diesel exposure but acknowledged that supply chain partners faced significant cost increases, which impacted Q1 results [94] Question: CapEx implications for the Lucedale project - Management confirmed that the Lucedale plant's construction costs remain in line with expectations, with no significant changes to the CapEx guidance [96]

PART I—FINANCIAL INFORMATION [Item 1. Financial Statements](index=6&type=section&id=Item%201.%20Financial%20Statements) The unaudited condensed consolidated financial statements show a net loss of $45.3 million for Q1 2022 [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets remained stable at approximately $1.9 billion while total equity increased significantly to $501.3 million Condensed Consolidated Balance Sheet Highlights (in thousands) | Metric | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | Total Current Assets | $168,445 | $198,730 | | **Total Assets** | **$1,929,012** | **$1,924,147** | | Total Current Liabilities | $212,395 | $257,006 | | Long-term Debt and Finance Lease Obligations | $1,058,246 | $1,232,441 | | **Total Liabilities** | **$1,427,743** | **$1,653,483** | | **Total Equity** | **$501,269** | **$270,664** | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The company reported a net loss of $45.3 million in Q1 2022, a significant increase from the prior year's loss Condensed Consolidated Statements of Operations (in thousands) | Metric | Q1 2022 | Q1 2021 (Recast) | | :--- | :--- | :--- | | Net Revenue | $232,982 | $241,621 | | Total operating costs and expenses | $268,187 | $252,209 | | Loss from operations | ($35,205) | ($10,588) | | **Net loss** | **($45,307)** | **($23,175)** | | Net loss per share (Basic and diluted) | ($0.71) | ($0.99) | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operations increased significantly while financing activities provided $87.8 million in cash Summary of Cash Flows (in thousands) | Cash Flow Activity | Q1 2022 | Q1 2021 (Recast) | | :--- | :--- | :--- | | Net cash used in operating activities | ($42,923) | ($1,569) | | Net cash used in investing activities | ($58,051) | ($77,662) | | Net cash provided by financing activities | $87,784 | $176,414 | | **Net (decrease) increase in cash** | **($13,190)** | **$97,183** | [Notes to Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail the company's conversion to a C-Corporation, accounting policies, and significant equity transactions - Effective December 31, 2021, Enviva converted from a Delaware limited partnership to a Delaware corporation named "Enviva Inc"[40](index=40&type=chunk) - The Simplification Transaction in October 2021 was treated as a business combination of entities under common control, requiring historical financial statements to be retroactively recast[50](index=50&type=chunk) - As of March 31, 2022, the aggregate value of unsatisfied or partially satisfied performance obligations from customer contracts was approximately **$19.9 billion**, with contracts extending through 2045[56](index=56&type=chunk) - In January 2022, the company issued 4,945,000 shares of common stock for net proceeds of **$333.2 million**, which were used to fund capital expenditures and repay debt[83](index=83&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a Q1 2022 net loss of $45.3 million, impacted by COVID-19 and the war in Ukraine [Business Overview and Recent Developments](index=22&type=section&id=Business%20Overview%20and%20Recent%20Developments) Enviva operates ten plants with a 6.2 million MTPY capacity and a product sales backlog of $21.3 billion - The company owns and operates ten plants with a combined production capacity of approximately **6.2 million metric tons per year (MTPY)**[102](index=102&type=chunk) - As of April 1, 2022, the product sales backlog from firm and contingent long-term contracts stood at **$21.3 billion**, with a weighted-average remaining term of 14.5 years[105](index=105&type=chunk) [How We Evaluate Our Operations (Non-GAAP Measures)](index=25&type=section&id=How%20We%20Evaluate%20Our%20Operations%20(Non-GAAP%20Measures)) Management utilizes non-GAAP measures like Adjusted EBITDA to evaluate underlying operational performance - The company utilizes non-GAAP financial measures to assess performance, including **Adjusted Net Income (Loss)**, **Adjusted Gross Margin**, **Adjusted EBITDA**, and **Distributable Cash Flow**[110](index=110&type=chunk)[111](index=111&type=chunk)[112](index=112&type=chunk) - These non-GAAP measures exclude certain items considered unrepresentative of ongoing operations, such as acquisition costs, effects of COVID-19 and the war in Ukraine, and Support Payments[110](index=110&type=chunk)[112](index=112&type=chunk) [Results of Operations](index=26&type=section&id=Results%20of%20Operations) Net loss widened to $45.3 million, though adjusted EBITDA rose to $36.6 million due to one-time cost adjustments - The Omicron variant of COVID-19 resulted in **$15.2 million** of incremental costs in Q1 2022[107](index=107&type=chunk) - The war in Ukraine led to **$5.1 million** of incremental costs during Q1 2022, primarily from dislocations in shipping and spikes in energy prices[127](index=127&type=chunk)[128](index=128&type=chunk) Key Operational Results (in thousands) | Metric | Q1 2022 | Q1 2021 (Recast) | Change | | :--- | :--- | :--- | :--- | | Net Revenue | $232,982 | $241,621 | ($8,639) | | Loss from Operations | ($35,205) | ($10,588) | ($24,617) | | Net Loss | ($45,307) | ($23,175) | ($22,132) | | Adjusted EBITDA | $36,550 | $21,691 | $14,859 | | Distributable Cash Flow | $25,333 | $5,152 | $20,181 | [Liquidity and Capital Resources](index=30&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintained liquidity of $280.4 million and plans capital expenditures of up to $275.0 million in 2022 - Total liquidity as of March 31, 2022 was **$280.4 million**, comprising cash on hand and availability under the $570.0 million senior secured revolving credit facility[141](index=141&type=chunk) - Planned capital expenditures for 2022 are between **$255.0 million and $275.0 million**, focusing on new plant construction in Lucedale, MS, the Pascagoula terminal, and the Epes plant[147](index=147&type=chunk) - The company intends to pay cash dividends of **$3.62 per common stock** for 2022[142](index=142&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=32&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports no material changes to its market risk exposure since its 2021 Annual Report - There have been **no material changes** to the company's market risk exposure since the 2021 Form 10-K[156](index=156&type=chunk) [Item 4. Controls and Procedures](index=32&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective with no material changes in internal control - The CEO and CFO concluded that the company's disclosure controls and procedures were **effective** as of March 31, 2022[157](index=157&type=chunk) - **No material changes** were made to internal control over financial reporting during the quarter ended March 31, 2022[158](index=158&type=chunk) PART II—OTHER INFORMATION [Item 1. Legal Proceedings](index=33&type=section&id=Item%201.%20Legal%20Proceedings) The company reports no material changes regarding legal proceedings since its 2021 Annual Report - There have been **no material changes** to legal proceedings as disclosed in the 2021 Form 10-K[161](index=161&type=chunk) [Item 1A. Risk Factors](index=33&type=section&id=Item%201A.%20Risk%20Factors) The company reports no material changes to the risk factors disclosed in its 2021 Annual Report - There have been **no material changes** to risk factors as disclosed in the 2021 Form 10-K[162](index=162&type=chunk) [Item 6. Exhibits](index=33&type=section&id=Item%206.%20Exhibits) This section lists all documents filed as part of the report, including required CEO and CFO certifications - This section incorporates the Exhibit Index by reference, which lists documents such as CEO/CFO certifications pursuant to the Sarbanes-Oxley Act[163](index=163&type=chunk)[165](index=165&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file number 001-37363 Enviva Inc. (Exact name of registrant as specified in its charter) Delaware 46-4097730 (State or other jurisdiction (I.R.S. Employe ...

Enviva Partners, LP (NYSE:EVA) Q4 2021 Results Earnings Conference Call March 1, 2022 10:00 AM ET Company Participants Kate Walsh - Vice President, Investor Relations John Keppler - Chairman & Chief Executive Officer Shai Even - Executive Vice President and Chief Financial Officer Conference Call Participants John Mackay - Goldman Sachs Pavel Molchanov - Raymond James Ryan Levine - Citi Elvira Scotto - Royal Bank of Canada Jose Hernandez - JPMorgan Kevin Pollard - Pickering Energy Partners Operator Good mor ...

Enviva Partners, LP (NYSE:EVA) Q3 2021 Results Conference Call November 4, 2021 10:00 AM ET Company Participants Kate Walsh - Vice President and Investor Relations John Keppler - Chairman and Chief Executive Officer Shai Even - Chief Financial Officer Conference Call Participants John Mackey - Goldman Sachs Mark Strauss - JP Morgan Ryan Levine - Citi Elvira Scotto - RBC Capital Markets Operator Good day and welcome to the EnvivaÂ's Third Quarter of 2021 Earnings Conference Call. All participants will be in ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file number 001-37363 Enviva Partners, LP (Exact name of registrant as specified in its charter) Delaware 46-4097730 (State or other jurisdic ...

Financial Data and Key Metrics Changes - The company generated approximately $49 million in adjusted EBITDA for Q2 2021, representing a 31% increase compared to the same period last year [8] - Net revenue for Q2 2021 was $285 million, a 70% increase over Q2 2020, driven by incremental sales to new and existing customers [19] - Adjusted gross margins for Q2 2021 were $56.1 million, an increase of $14.1 million or 33.4% compared to Q2 2020 [20] - Net income for Q2 2021 was $2.6 million, down from $8.5 million in Q2 2020, while adjusted net income rose to $9.8 million from $8.7 million [21] - Distributable cash flow for Q2 2021 was $32.9 million, a 27% increase from the same quarter in 2020, resulting in a distribution coverage ratio of 0.61 times [23] Business Line Data and Key Metrics Changes - The company closed two significant dropdown transactions, increasing fully contracted production capacity by 14% and deep-water marine terminal throughput capacity by 38% [9] - The partnership's revenue backlog totals $16 billion with a weighted average remaining contract term of 13.2 years, expected to increase to approximately $20.4 billion with additional contracts [13][14] Market Data and Key Metrics Changes - The company is seeing increased momentum in the EU for biomass usage due to the Fit for 55 package aimed at reducing carbon emissions [30][31] - The global industrial sector is emerging as a significant market opportunity, with potential for large-scale coal to biomass switching [37][56] Company Strategy and Development Direction - The company is focused on expanding its production capacity and maintaining a fully contracted growth profile, which supports consistent distribution increases [10][12] - The company is developing a new wood pellet production plant in Epes, Alabama, with construction expected to start in winter [16] - Sustainability is central to the company's value proposition, with ongoing efforts to mitigate emissions and enhance environmental leadership [40][42] Management's Comments on Operating Environment and Future Outlook - Management reaffirmed full-year 2021 guidance for adjusted EBITDA in the range of $250 million to $270 million, and for 2022, in the range of $310 million to $330 million [12] - The company is insulated from inflationary pressures due to annual escalators in contracts and expects lower production costs in the latter half of the year [28] Other Important Information - The company declared a distribution of $0.815 per unit for Q2 2021, a 6.5% increase over the same quarter last year, marking the 24th consecutive distribution increase [11] - The company continues to target a conservative leverage ratio of 3.5 to 4 times and a distribution coverage ratio of 1.2 times on a forward-looking annual basis [24] Q&A Session Summary Question: Impact of labor shortages - Management noted minimal direct impact from labor shortages, with some challenges at entry-level positions due to unemployment benefits [47][48] Question: Update on Germany's market - Management expressed excitement about progress in Germany, highlighting the potential for a total addressable market of 5 to 7 million tons per year [54] Question: Global industrial sector opportunities - Management indicated significant opportunities in the industrial sector for decarbonization, with multiple segments and customers being explored [56][58] Question: BECCS evolution and economics - Management discussed the importance of negative emission solutions and the potential for carbon pricing to create market opportunities [59][61] Question: Netherlands market entry - Management confirmed ongoing deliveries in the Netherlands and highlighted the industrial segment as a growing market [62][64] Question: Revenue contribution from Japan - Management projected a linear growth profile for revenue from Japan, expecting it to reach about 25% by 2022 [65][66]