Press release
Green Plains Reports Third Quarter 2021 Financial Results
Results for the Third Quarter of 2021: Net loss attributable to the company of $59.6 million, or ($1.18) per diluted shareAdjusted EBITDA of ($14.8)
About this update from Green Plains, Inc.
[{"type":"text","content":"Results for the Third Quarter of 2021: Net loss attributable to the company of $59.6 million, or ($1.18) per diluted shareAdjusted EBITDA of ($14.8) millionConsolidated crush margin of $0.01 per gallon for the third quarter and $0.16 per gallon year-to-dateCash, cash equivalents and restricted cash of $720.9 million with $312.6 million available under committed credit facilities Highlights and Recent Developments Green Plains Wood River LLC’s MSC™ Ultra-High Protein system is operational, with shipments expected in NovemberBroke ground on 4th MSC™ Ultra-High Protein facility, at Green Plains Mount Vernon, and anticipate breaking ground at Obion, Green Plains’ 5th MSC™ location in the coming weeksExtended sales commitments to our pet food vertical with higher volumes through 2022 with a signed MOU for additional sales through 2023 and expect to expand our customer base near termAnnounced a turnkey solution for MSC™ protein technology, and inaugural project partner, Tharaldson Ethanol, a 175 million gallon facility in Casselton, N.D.Completed offering of 5,462,500 shares of common stock at $32.00 per shareAnnounced governance updates, including appointing a lead independent director, ongoing refreshment of the Board with two new board members, rotating committee chairs and various amendments enhancing the Board’s oversight and strengthening shareholder rights OMAHA, Neb., Nov. 04, 2021 (GLOBE NEWSWIRE) -- Green Plains Inc. (NASDAQ:GPRE) today announced financial results for the third quarter of 2021. Net loss attributable to the company was $59.6 million, or ($1.18) per diluted share compared to a net loss of $34.5 million or ($1.00) per diluted share, for the same period in 2020. Revenues were $746.8 million for the third quarter of 2021 compared with $424.1 million for the same period last year. Commenting on the results, Green Plains’ President and Chief Executive Officer Todd Becker said, “The third quarter results of $0.01 per gallon consolidated crush margin were impacted by the near-record physical corn basis levels, accelerated completion of maintenance shutdowns and previously announced MTM timing reversals. Our year-to-date margin averaged $0.16 per gallon, and we anticipate full year to finish strong and above our long-term view of the Green Plains 1.0 platform. While we have experienced volatility between quarters due ...