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Jun 30, 2022
Green Plains Q2 2022 Earnings Report
Achieved strong operating results and generated significant positive free cash flow due to modernization and transformation program and non-ethanol contributions.
Key Takeaways
Green Plains Inc. reported net income of $46.4 million, or $0.73 per diluted share, compared to $9.7 million, or $0.20 per diluted share, for the same period in 2021. Revenues were $1,012.4 million compared to $724.4 million for the same period last year. The company benefited from strong plant utilization rates and non-ethanol contributions such as renewable corn oil and Ultra-High Protein.
Achieved strong operating results and generated significant positive free cash flow.
Modernization and transformation program led to strong plant utilization rates.
Benefitted from non-ethanol contributions such as renewable corn oil and Ultra-High Protein.
Received $27.7 million in COVID relief from the USDA Biofuel Producer Program.
Green Plains
Green Plains
Green Plains Revenue by Segment
Revenue by Segment
Ethanol Production Revenue
CapyFin.comAgribusiness and Energy Services Revenue
CapyFin.com Forward Guidance
Green Plains is focused on executing its transformation plan, with three MSC locations anticipated to come online in the third and fourth quarter. The company plans to break ground on its first full-scale commercial low-carbon Clean Sugar Technology deployment in Shenandoah, Iowa, during the third quarter and believes they are on track for a 2023 startup.
Positive Outlook
- MSC locations under construction are anticipated to come online in the third and fourth quarter.
- Customer engagement is growing globally as Green Plains sends more 50% and 60% corn fermented protein to new and existing customers.
- Anticipate the third quarter to be one of the strongest in new orders.
- Commercialization of 60% protein product is ongoing and Green Plains is realizing continued improvement in operating results.
- Planning to break ground on first full-scale commercial low-carbon Clean Sugar Technology deployment in Shenandoah, Iowa during the third quarter.
Challenges Ahead
- Disruption caused by health epidemics, such as the coronavirus outbreak.
- Competition in the industries in which Green Plains operates.
- Commodity market risks.
- Financial market risks.
- Counterparty risks.
Revenue & Expenses
Visualization of income flow from segment revenue to net income