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Green Plains(GPRE) - 2024 Q4 - Earnings Call Transcript
2025-02-08 02:40
Financial Data and Key Metrics Changes - Green Plains reported consolidated revenues of $584 million for Q4 2024, which is approximately 18% lower than the same period a year ago, primarily due to lower market prices for ethanol, dried distillers grains, and renewable corn oil [26][28] - The company experienced a net loss of $54.9 million or negative $0.86 per share, compared to a net income of $7.2 million or $0.12 per share for the same period in 2023 [10][28] - EBITDA for Q4 was negative $18.9 million, a significant decline from $44.7 million in the prior year [11][28] - SG&A costs were $25.6 million, which is $7.2 million lower than the prior year due to reduced personnel costs and adjustments to incentive accruals [29] Business Line Data and Key Metrics Changes - The plant utilization rate was 92% during Q4, down from 95% in the same period last year, with an average utilization rate of 94% over the trailing four quarters [27] - The company shut down a 120 million gallon facility in Fairmont due to market conditions and flooding issues, which is expected to remain in cold idle for the foreseeable future [9][10] - The overall protein complex is under pressure from oversupply, but there are bright spots in the aquaculture market, with significant sales to major customers [19][20] Market Data and Key Metrics Changes - Strong exports are anticipated, with the company on pace to set a new record of approximately 1.9 billion gallons, expected to exceed that in 2025 [14] - The global market remains tight on corn, which could lead to higher prices if planting intentions do not increase [16] - The company noted that the soybean oil market is tight globally, which could benefit their corn oil products [95] Company Strategy and Development Direction - The company is focusing on cost savings and margin expansion, identifying up to $50 million in annualized cost savings, with $30 million already implemented [7][57] - A strategic shift from innovation to commercialization is underway, with a focus on rationalizing costs and improving profitability [6][54] - The company is optimistic about the potential of carbon capture initiatives, expecting significant cash flow contributions starting later this year [22][41] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment over the negative EBITDA for Q4 but highlighted a positive EBITDA of $44.7 million for the full year 2024 [11][28] - The management is closely monitoring planting intentions and believes favorable industry fundamentals are in place, despite current market pressures [16] - The company is optimistic about the future contributions from carbon capture and the potential for significant rerating of the company's valuation [24][54] Other Important Information - The company has made significant progress in its clean sugar initiative, receiving necessary certifications and approvals [46][85] - The company anticipates capital expenditures for 2025 to be in the range of $20 million to $35 million, excluding carbon capture equipment [34] Q&A Session Summary Question: Can you provide details on the $50 million cost savings initiative? - Management indicated that the initiative aims to increase overall profitability by rationalizing costs and focusing on commercializing products rather than further innovation [60][61] Question: What is the status of the aquaculture projects in South America? - Management confirmed successful penetration into the market, with significant sales achieved and ongoing interest from customers [66][68] Question: Can you discuss the timeline for carbon capture projects? - Management expects the first carbon capture contributions to begin in late Q3 or early Q4 2025, with construction of necessary infrastructure already underway [73][74] Question: How is the company addressing the sugar initiative and its market development? - Management stated that they are awaiting food safety certifications and are optimistic about future sales once these are obtained [81][84] Question: What is the expected impact of the restructuring on cash flow? - Management anticipates minimal cash impact from the restructuring, estimating charges to be under $10 million, with some potentially being non-cash [192][193] Question: How does the company view the current ethanol market and future demand? - Management believes that increased demand during the summer driving season could help improve margins, but challenges remain due to elevated stocks and production levels [204][206] Question: What is the outlook for corn oil demand and pricing? - Management is optimistic about strong demand for corn oil, particularly in renewable diesel markets, and expects pricing to improve as contracts are secured [210][212]
Green Plains(GPRE) - 2024 Q4 - Annual Report
2025-02-07 20:20
Table of Contents For the transition period from ____ to _____ Commission file number 001-32924 GREEN PLAINS INC. (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 1811 Aksarben Drive, Omaha, NE 68106 ...
Green Plains Renewable Energy (GPRE) Reports Q4 Loss, Misses Revenue Estimates
ZACKS· 2025-02-07 14:05
Company Performance - Green Plains Renewable Energy (GPRE) reported a quarterly loss of $0.86 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.28, and compared to earnings of $0.12 per share a year ago [1] - The earnings surprise for this quarter was -207.14%, following a previous quarter where the company exceeded expectations with earnings of $0.35 per share against an estimate of $0.11, resulting in a surprise of 218.18% [2] - The company posted revenues of $584.02 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 6.59%, and down from $712.39 million in the same quarter last year [3] Stock Performance and Outlook - Green Plains shares have declined approximately 12.6% since the beginning of the year, while the S&P 500 has gained 3.4% [4] - The current consensus EPS estimate for the upcoming quarter is -$0.27 on revenues of $651.6 million, and for the current fiscal year, it is $0.07 on revenues of $2.75 billion [8] Industry Context - The Chemical - Specialty industry, to which Green Plains belongs, is currently ranked in the bottom 20% of over 250 Zacks industries, indicating potential challenges for stock performance [9] - The performance of Green Plains may also be influenced by the overall outlook for the industry, as historical data shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [9]
Green Plains(GPRE) - 2024 Q4 - Annual Results
2025-02-07 11:56
Exhibit 99.1 FOR IMMEDIATE RELEASE Green Plains Reports Fourth Quarter and Full Year 2024 Financial Results Results for the Fourth Quarter 2024 and Future Outlook: OMAHA, Neb., Feb 7, 2025 (BUSINESS WIRE) - Green Plains Inc. (NASDAQ:GPRE) ("Green Plains" or the "company") today announced financial results for the fourth quarter and full year 2024. Net loss attributable to the company was $54.9 million, or $(0.86) per diluted share for the fourth quarter compared to net income attributable to the company of ...
Analysts Estimate Green Plains Renewable Energy (GPRE) to Report a Decline in Earnings: What to Look Out for
ZACKS· 2025-01-31 16:01
Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings for Green Plains Renewable Energy (GPRE) due to lower revenues, with a focus on how actual results compare to estimates impacting stock price [1][2]. Earnings Expectations - The earnings report is expected on February 7, 2025, with a consensus estimate of a quarterly loss of $0.28 per share, reflecting a year-over-year change of -333.3% [3]. - Revenues are projected to be $625.2 million, down 12.2% from the previous year [3]. Estimate Revisions - The consensus EPS estimate has been revised 170% lower in the last 30 days, indicating a significant reassessment by analysts [4]. - The Most Accurate Estimate for Green Plains is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -41.49% [10][11]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive or negative reading indicates the likely deviation of actual earnings from the consensus estimate, with a strong predictor for positive readings [7][8]. - Green Plains currently holds a Zacks Rank of 3, making it challenging to predict an earnings beat conclusively [11]. Historical Performance - In the last reported quarter, Green Plains exceeded expectations with earnings of $0.35 per share against an estimate of $0.11, resulting in a surprise of +218.18% [12]. - Over the past four quarters, the company has only beaten consensus EPS estimates once [13]. Market Context - The performance of Green Plains may not solely dictate stock movement, as other factors can influence investor sentiment [14]. - Despite not appearing as a compelling earnings-beat candidate, other market factors should be considered when evaluating the stock [16]. Industry Comparison - Linde (LIN), another player in the Zacks Chemical - Specialty industry, is expected to report earnings per share of $3.93 for the same quarter, indicating a year-over-year change of +9.5% [17]. - Linde's revenues are projected at $8.36 billion, up 0.7% from the previous year, with a recent EPS estimate revision of 1.4% down [18].
Green Plains(GPRE) - 2024 Q3 - Earnings Call Transcript
2024-10-31 22:58
Green Plains Inc. (NASDAQ:GPRE) Q3 2024 Earnings Conference Call October 30, 2024 9:00 AM ET Company Participants Phil Boggs - EVP of Investor Relations and Finance Todd Becker - President and CEO Jim Stark - CFO Devin Mogler - SVP, Corporate & IR Leslie van der Meulen - EVP, Product Marketing and Innovation Conference Call Participants Jordan Levy - Truist Securities Sumara Jain - UBS Andrew Strelzik - BMO Capital Markets Salvator Tiano - Bank of America Kristen Owen - Oppenheimer Matthew Blair - TPH Craig ...
Green Plains(GPRE) - 2024 Q3 - Quarterly Report
2024-10-31 18:47
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________ FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended September 30, 2024 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 001-32924 GREEN PLAINS INC. (Exact name of registrant as specified in it ...
Green Plains Renewable Energy (GPRE) Surpasses Q3 Earnings Estimates
ZACKS· 2024-10-31 13:05
Group 1: Earnings Performance - Green Plains Renewable Energy (GPRE) reported quarterly earnings of $0.35 per share, exceeding the Zacks Consensus Estimate of $0.11 per share, and matching the earnings from the same quarter last year [1] - The earnings surprise for this quarter was 218.18%, contrasting with a previous quarter where a loss of $0.16 per share was expected, but the company reported a loss of $0.38, resulting in a surprise of -137.50% [2] - Over the last four quarters, the company has only surpassed consensus EPS estimates once [2] Group 2: Revenue Performance - For the quarter ended September 2024, Green Plains posted revenues of $658.74 million, which missed the Zacks Consensus Estimate by 0.11%, and represented a decline from year-ago revenues of $892.77 million [3] - The company has not been able to beat consensus revenue estimates over the last four quarters [3] Group 3: Stock Performance and Outlook - Green Plains shares have declined approximately 53.9% since the beginning of the year, while the S&P 500 has gained 21.9% [4] - The current consensus EPS estimate for the upcoming quarter is $0.14 on revenues of $651.47 million, and for the current fiscal year, it is -$1.04 on revenues of $2.51 billion [8] - The Zacks Industry Rank indicates that the Chemical - Specialty sector is currently in the bottom 33% of over 250 Zacks industries, suggesting potential challenges for stock performance [9]
Green Plains(GPRE) - 2024 Q3 - Quarterly Results
2024-10-31 10:56
Exhibit 99.1 FOR IMMEDIATE RELEASE Green Plains Reports Third Quarter 2024 Financial Results Results for the Third Quarter of 2024 and Future Outlook: • Net income attributable to Green Plains of $48.2 million, or EPS of $0.69 per diluted share, compared to net income attributable to Green Plains of $22.3 million, or $0.35 per diluted share, for the same period in 2023 • EBITDA of $83.3 million, inclusive of a $30.7 million gain on sale of assets • Consolidated crush margin of $58.3 million in the third qua ...
Green Plains(GPRE) - 2024 Q2 - Quarterly Report
2024-08-06 20:35
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________ FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended June 30, 2024 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 001-32924 GREEN PLAINS INC. (Exact name of registrant as specified in its cha ...