Enviva(US:EVA)2023-08-07 14:38Financial Performance & Guidance - Enviva has a contracted backlog of approximately $23 billion with credit-worthy customers, driving strong cash flows[1] - Sold volumes of 13 million metric tons[3] - The company is executing cost improvements, targeting $100 million in savings[42] - Full-year 2023 CAPEX guidance is lowered to a range of $335 million to $365 million, representing a 10% decrease at the midpoint[57] - The company reaffirms its full-year 2023 Adjusted EBITDA guidance, with expectations for improvements in the second half of the year[40] Production & Operations - Enviva has a nameplate production capacity of approximately 62 million metric tons per year[17] - The company is investing in plant productivity and cost improvements[34] - Corporate restructuring is expected to provide $16 million in reduced cash costs on an annualized basis[42] - The company is focused on investments in the productivity and operational improvement of current assets[48] Growth & Market - The customer sales pipeline exceeds $52 billion, driven by energy transition tailwinds[17] - The company expects to expand its customer mix from 20 customers in 2022 to approximately 40 customers in 2025[77] - The company anticipates that deliveries to its largest customer will be approximately 15% of total deliveries by 2025[98]