Press release
Green Plains Reports First Quarter 2021 Financial Results
Results for the First Quarter of 2021: Net loss attributable to the company of $6.5 million, or $(0.17) per diluted share inclusive of a $36.9 million gain
About this update from Green Plains, Inc.
[{"type":"text","content":"Results for the First Quarter of 2021: Net loss attributable to the company of $6.5 million, or $(0.17) per diluted share inclusive of a $36.9 million gain related to the sale of certain assets and a $22.1 million charge related to the extinguishment of convertible notesAdjusted EBITDA of $15.4 million, exclusive of a $36.9 million gain related to the sale of certain assetsConsolidated crush margin of $0.11 per gallon, significantly better than the prior year’s first quarterStrong liquidity position, with cash, cash equivalents and restricted cash of $654.4 million and $330.4 million available under committed credit facilitiesFully funded its Total Transformation Plan during the quarter by completing over $600.0 million in transactions while retiring over $170.0 million of debt OMAHA, Neb., May 03, 2021 (GLOBE NEWSWIRE) -- Green Plains Inc. (NASDAQ:GPRE) today announced financial results for the first quarter of 2021. Net loss attributable to the company was $6.5 million, or $(0.17) per diluted share inclusive of a gain on the sale of certain assets of $36.9 million and a $22.1 million charge related to extinguishment of convertible notes compared with a net loss of $16.4 million, or $(0.47) per diluted share, for the same period in 2020. Revenues were $553.6 million for the first quarter of 2021 compared with $632.9 million for the same period last year. First Quarter Highlights Announced the acquisition of a majority stake in Fluid Quip Technologies, along with Ospraie ManagementProduced 58% sustainable Ultra-High Protein at its Shenandoah, Iowa biorefinery through development efforts between Green Plains, Fluid Quip Technologies and other innovation partnersAnnounced construction plans for MSC Ultra-High Protein at its Obion, Tenn. and Mount Vernon, Ind. facilitiesCompleted the USP upgrade at its York, Neb. locationAnnounced a clean sugar project at its York, Neb. Innovation Center to produce dextrose to target applications in food production, renewable chemicals and synthetic biologyFunds and accounts managed by BlackRock invested in Fluid Quip Technologies and completed a $125.0 million, 5-year junior mezzanine note facilityAnnounced a partnership with Summit Carbon Solutions which is developing one of the largest carbon capture and sequestration projects in the world, capable of capturing and sequestering more than 10 mill...