Press release
Green Plains Reports Fourth Quarter and Full Year 2021 Financial Results
Results for the Fourth Quarter and Full Year 2021 Fourth quarter EPS of ($0.18) per diluted share including negative impact from an income tax valuation
About this update from Green Plains, Inc.
[{"type":"text","content":"Results for the Fourth Quarter and Full Year 2021 Fourth quarter EPS of ($0.18) per diluted share including negative impact from an income tax valuation adjustment, compared to ($1.43) per diluted share for the same period in the prior yearFull Year EPS of ($1.41) per diluted share compared to ($3.14) per diluted share for the prior yearFourth quarter Adjusted EBITDA of $32.0 million and positive free cash flow generation compared to $9.4 million for the same period in the prior yearFull year Adjusted EBITDA of $87.4 million compared to $36.7 million for the prior yearFourth quarter consolidated crush margin of $0.20 per gallon and full year consolidated crush margin of $0.17 per gallon inclusive of negative absorption from completion of plant modernization programsCash, cash equivalents, restricted cash and marketable securities of $685.8 million with $287.8 million available under committed credit facilities Business Highlights Strength in global protein and renewable corn oil markets is beneficial to our non-ethanol outlook for 2022 and beyondTransformative protein technology deployment on track, with two facilities operating Fluid Quip Technologies’ patented MSC™ system, three under construction and one expected to break ground in the second quarter. Expect early 2023 run rate of over 700 million gallons converted with over 400,000 tons of annualized Ultra-High Protein production capacity, including first turnkey project. Engineering expected to begin on additional locations in 2022Have achieved renewable corn oil yields in excess of 1.2 pounds per bushel at locations utilizing MSC™ technologyMade significant progress during the fourth quarter of 2021 in the production of low-carbon dextrose at our Innovation Center at York for use in industrial applications, culminating in successful customer product trialsExpect Fluid Quip Technologies to begin engineering a patented, first-of-its-kind commercial Clean Sugar Technology™ system during first quarter 2022, with groundbreaking anticipated in the second half of 2022Carbon sequestration plans remain on track for shipments in 2024-25 on Summit Carbon Solutions’ project, and work continues on Eastern facilities to monetize carbon production through direct injection and offtake/partnership opportunitiesOngoing substantive discussions regarding potential offtakes and partnerships in...