Green Plains, Inc. · NASDAQ:GPRE
Green Plains — Q4 2021 Earnings Presentation
16 slides from Green Plains's earnings presentation, Feb 11, 2022
Slide 1: Fourth Quarter 2021 Business Update
Fourth Quarter 2021 Business Update Feb. 11, 2022
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation includes forward-looking statements that reflect management’s current views of company performance, industry conditions and future economic environment. These statements are based on assumptions and various factors that are subject to risks and uncertaint
Slide 3: Green Plains Inc.
> Green Plains Ingredients that matter Green Plains Inc.
Slide 4: Fourth Quarter Results
Fourth Quarter Results Results of Operations • Net loss of $9.6 million, or $(0.18) per diluted share • Adjusted EBITDA of $32.0 million • Cash, cash equivalents, restricted cash and marketable securities of $685.8 million and $287.8 million available under committed credit facilities Production Seg
Slide 5: Business Activity & Updates
Business Activity & Updates • Transformative protein technology deployment on track • Began operation of MSC™ technology at Green Plains Wood River • Broke ground at Green Plains Obion for construction of MSC™ technology – three locations now under construction • Signed an MOU in the pet food vertic
Slide 6: Selected Operating Data
Selected Operating Data Green Plains Inc. (in thousands ) For the three months ended Dec. 31, 2021 Dec. 31, 2020 Ethanol production Ethanol sold (gallons) 200,521 214,203 Distillers grains sold (equivalent dried tons) 518 550 Corn oil sold (pounds) 62,972 60,817 Corn consumed (bushels) 70,242 74,276
Slide 7: Consolidated Crush Margin
Consolidated Crush Margin Green Plains Inc. For the three months ended December 31, 2021 2020 2021 2020 (in millions) (per gallon produced) Ethanol production: Operating income (loss) $3.0 ($28.7) $0.01 ($0.13) Depreciation and amortization 20.3 17.4 0.10 0.08 Total ethanol production 23.3 (11.3) 0.
Slide 8: Condensed Consolidated Income Statement
Condensed Consolidated Income Statement Green Plains Inc. (in millions, except per share amounts) For the three months ended Dec. 31, 2021 Dec. 31, 2020 Revenues $802.3 $478.8 Costs and expenses (1) 794.5 513.6 Operating income (loss) 7.8 (34.8) Other expense (7.1) (10.4) Income tax benefit (expense
Slide 9: Select Balance Sheet Data
Select Balance Sheet Data Green Plains Inc. (in millions, except per share amounts) For the period ending Dec. 31, 2021 Dec. 31, 2020 Cash, cash equivalents, restricted cash & marketable securities $685.8 $274.8 Working capital 185.6 168.8 Working capital financing(1) (173.4) (140.8) Working capital
Slide 10: Green Plains Partners LP
Ins Green Plains Green Pla
Slide 11: Selected Operating Data - Green Plains Partners LP
Selected Operating Data Green Plains Partners LP (in million gallons) For the three months ended Dec. 31, 2021 Dec. 31, 2020 Product volumes Storage and throughput services 201.4 215.1 Terminal services 47.7 48.9 Railcar capacity billed (daily average) 68.3 81.1 11
Slide 12: Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet Green Plains Partners LP (in millions) Assets Dec. 31, 2021 Dec. 31, 2020 Current assets $33.0 $18.0 Property and equipment, net 28.8 32.1 Operating lease right-of-use assets 38.9 40.6 Other assets 13.8 14.6 Total assets $114.5 $105.3 Liabilities and Partners’ Ca
Slide 13: Condensed Consolidated Income Statement
Condensed Consolidated Income Statement Green Plains Partners LP (in millions, except per unit amounts) For the three months ended Dec. 31, 2021 Dec. 31, 2020 Revenues $19.1 $21.3 Operating expenses 8.1 8.8 Operating income 11.0 12.5 Interest expense (1.3) (2.3) Income tax expense (benefit) 0.1 (0.1
Slide 14: Adjusted EBITDA and DCF
Adjusted EBITDA and DCF Green Plains Partners LP (in millions, except ratios) For the three months ended LTM ended Dec. 31, 2021 Dec. 31, 2020 Dec. 31, 2021 Net income $9.9 $10.3 $40.4 Interest expense(1) 1.3 2.3 7.4 Income tax expense (0.1) 0.1 0.2 Depreciation and amortization 1.0 0.9 3.7 Unit-bas
Slide 15: Appendix
> Green Plains Ingredients that matter Appendix
Slide 16: Non-GAAP Reconciliation
Non-GAAP Reconciliation Green Plains Inc. (in millions) For the three months ended Dec. 31, 2021 Dec. 31, 2020 Net loss ($3.9) ($43.1) Interest expense 6.9 10.5 Income tax expense (benefit), net of equity 4.8 (1.9) method income tax expense Depreciation and amortization (1) 22.5 21.0 EBITDA 30.3 (13