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Green Plains(GPRE) - 2023 Q4 - Annual Report
2024-02-09 20:11
Table of Contents 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, 2023 or o 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 charter) Iowa 84-1652107 (State or other juri ...
Green Plains(GPRE) - 2023 Q4 - Earnings Call Presentation
2024-02-07 14:17
• Processed 74.2 million bushels of corn • Sold 479 thousand tons of distillers grains (dry equivalent) • Sold 72.9 million pounds of renewable corn oil Fourth Quarter 2023 Business Update February 7, 2024 Forward-looking statements are made in accordance with safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations which involve a number of risks and uncertainties and do not relate strictly to historical or current facts, but rather ...
Green Plains(GPRE) - 2023 Q3 - Quarterly Report
2023-10-31 20:41
Table of Contents For the Quarterly Period Ended September 30, 2023 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. _______________________ FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of registrant as specified in it ...
Green Plains(GPRE) - 2023 Q3 - Earnings Call Transcript
2023-10-31 18:05
Financial Data and Key Metrics Changes - The company reported consolidated revenues of $892.8 million for Q3 2023, which is $62.2 million or approximately 6.5% lower than the same period a year ago due to lower prices for ethanol and dry distillers grains [19] - Net income attributable to the company was $22.3 million, or $0.35 per diluted share, compared to a net loss of $73.5 million, or $1.27 loss per diluted share for the same period in 2022 [37] - EBITDA for the quarter was $52 million, a significant improvement from a negative $35.6 million in the prior year period [37] Business Line Data and Key Metrics Changes - The ethanol operating rate was reported at 93.9%, an increase from 90.9% in the same period last year and significantly improved from 81.5% in Q2 of this year [19] - The ag and energy segment recorded $12.2 million in EBITDA, showing strong performance [20] - The company achieved new record production levels for Ultra-High Protein in Q3 and is on pace to set new highs in Q4 [34] Market Data and Key Metrics Changes - The company has seen good uptake from Canada due to its low carbon fuel program and has started to see volumes from the EU and other regions [4] - The corn basis in the company's areas was $0.44 higher than the five-year average during Q3 [16] - The company has expanded its customer base by 25% to 30% during the quarter, indicating strong demand for its protein products globally [26] Company Strategy and Development Direction - The company is focused on maximizing production from corn at its biorefineries and aims to produce low carbon ingredients [42] - The company plans to dedicate 20% to 30% of its portfolio to 60% protein during 2024, with expectations of higher production in Q4 [27] - The company is pursuing decarbonization strategies, including participation in carbon capture and sequestration opportunities, which are expected to provide a competitive advantage [45][70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the completion of the carbon capture project and the anticipated benefits from the Summit Carbon Solutions Project [28] - The company expects to see improved free cash flow generation in Q4 and a stronger year-end position [35] - Management noted that the fundamentals for ethanol demand remain strong, with good export demand and production levels [63] Other Important Information - The company allocated $29 million of capital across its platform in Q3, with plans for CapEx in the range of $25 million to $45 million for the remainder of 2023 [23] - The company is working through a definitive merger agreement with Green Plains Partners, expected to simplify corporate structure and improve credit quality [96] Q&A Session Summary Question: Can you provide insights on the protein side and customer mix? - Management noted that the economics have improved with lower corn prices and increasing protein prices, leading to better competitiveness [78] Question: What is the status of the carbon capture strategy? - Management expressed confidence in the Summit project and its potential to enhance the company's capabilities in carbon initiatives [81] Question: When can guidance on 45Z be expected? - Management anticipates guidance by the end of the year, with ongoing discussions about lifecycle modeling for sustainable aviation fuel [86] Question: How is the company positioned regarding corn oil pricing? - Management indicated that corn oil prices have stabilized and the company is well-positioned to benefit from industry drivers towards advantaged feedstocks [87] Question: What are the expectations for EBITDA in 2024 and 2025? - Management reaffirmed previous guidance for 2025, emphasizing the advantages from the Summit project and expanded protein production [102]
Green Plains(GPRE) - 2023 Q3 - Earnings Call Presentation
2023-10-31 17:55
This presentation includes forward-looking statements that reflect management's current views of company performance, industry conditions and future economic environment. These statements are based on assumptions and various factors that are subject to risks and uncertainties. Green Plains has provided additional information about such risks and uncertainties that could cause actual results to differ materially from those expressed or implied in its reports filed with the Securities and Exchange Commission ...
Green Plains(GPRE) - 2023 Q2 - Quarterly Report
2023-08-04 20:06
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Table of Contents _______________________ FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 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 charter) (State or other jurisdiction of incorpo ...
Green Plains(GPRE) - 2023 Q2 - Earnings Call Transcript
2023-08-04 19:27
Green Plains Inc. (NASDAQ:GPRE) Q2 2023 Earnings Conference Call August 4, 2023 9:00 AM ET Company Participants Phil Boggs – Executive Vice President-Investor Relations Todd Becker – President and Chief Executive Officer Jim Stark – Chief Financial Officer Devin Mogler – Senior Vice President, Government Affairs, Sustainability & Communications Conference Call Participants Craig Irwin – ROTH Capital Adam Samuelson – Goldman Sachs Kristen Owen – Oppenheimer Manav Gupta – UBS Salvator Tiano – Bank of America ...
Green Plains(GPRE) - 2023 Q2 - Earnings Call Presentation
2023-08-04 13:51
Forward-Looking Statements Forward-looking statements are made in accordance with safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations which involve a number of risks and uncertainties and do not relate strictly to historical or current facts, but rather to plans and objectives for future operations. These statements include words such as "anticipate," "believe," "continue," "estimate," "expect," "intend," "outlook," "plan," "pred ...
Green Plains(GPRE) - 2023 Q1 - Earnings Call Transcript
2023-05-06 17:20
Green Plains Inc. (NASDAQ:GPRE) Q1 2023 Earnings Conference Call May 4, 2023 9:00 AM ET Company Participants Phil Boggs - Executive Vice President, Investor Relations Todd Becker - President, Chief Executive Officer and Director James Stark - Chief Financial Officer Conference Call Participants Adam Samuelson - Goldman Sachs Kristen Owen - Oppenheimer Manav Gupta - UBS Andrew Strelzik - BMO Capital Markets Aaron Spychalla - Craig-Hallum Jordan Levy - Truist Securities Operator Good morning, and welcome ...
Green Plains(GPRE) - 2023 Q1 - Quarterly Report
2023-05-04 20:14
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 1811 Aksarben Drive, Omaha, NE 68106 (402) 884-8700 (Address of principal executive offices, including zip code) (Registrant's telephone number, including area code) For the Quarterly Period Ended March 31, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Ex ...