Green Plains, Inc. · NASDAQ:GPRE
Green Plains — Q2 2022 Earnings Presentation
16 slides from Green Plains's earnings presentation, Aug 1, 2022
Slide 1: Second Quarter 2022 Business Update
Second Quarter 2022 Business Update August 2, 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.
B= Green Plains Ingredients that matter Green Plains Inc.
Slide 4: Second Quarter Results
Second Quarter Results Results of Operations • Net income attributable to Green Plains of $46.4 million, or $0.73 per diluted share • EBITDA of $84.4 million, inclusive of a USDA COVID-19 relief payment of $27.7 million • Cash, cash equivalents, restricted cash and marketable securities of $604.2 mi
Slide 5: Business Activity & Updates
Business Activity & Updates • Announced aquafeed partnership with Riverence to expand trout and salmon feed production in Idaho • Converted the remaining balance of $64.0 million of the 4.00% Convertible Senior Notes due 2024 into common stock • Broke ground on MSC™ at Tharaldson Ethanol in Casselto
Slide 6: Selected Operating Data
Selected Operating Data Green Plains Inc. (in thousands) For the three months ended June 30, 2022 2021 Ethanol production Ethanol sold (gallons) 231,413 190,913 Distillers grains sold (equivalent dried tons) 593 494 Corn oil sold (pounds) 72,232 54,875 Corn consumed (bushels) 80,218 65,424 Agribusin
Slide 7: Consolidated Crush Margin
Consolidated Crush Margin Green Plains Inc. For the three months ended June 30, 2022 2021 2022 2021 (in millions) (per gallon produced) Ethanol production: Operating income $ 27.5 $ 33.5 $ 0.12 $ 0.18 Depreciation and amortization 19.1 18.5 0.08 0.10 Total adjusted ethanol production $ 46.6 $ 52.0 $
Slide 8: Condensed Consolidated Income Statement
Condensed Consolidated Income Statement Green Plains Inc. (in millions, except per share amounts) For the three months ended June 30, 2022 2021 Revenues $ 1,012.4 $ 724.4 Costs and expenses 978.6 693.4 Operating income $ 33.8 $ 31.0 Other income (expense) 21.2 (19.9) Income tax benefit (expense) (2.
Slide 9: Select Balance Sheet Data
Select Balance Sheet Data Green Plains Inc. (in millions, except per share amounts) For the period ending Jun. 30, 2022 Dec. 31, 2021 Cash, cash equivalents and restricted cash and marketable securities $ 604.2 $ 685.8 Working capital 333.3 185.6 Working capital financing (1) (308.4) (173.4) Working
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 June 30, 2022 2021 Product volumes Storage and throughput services 232.5 191.8 Terminal services 51.4 48.7 Railcar capacity billed (daily average) 74.5 69.4 11
Slide 12: Condensed Consolidated Balance Sheet - Green Plains Partners LP
Condensed Consolidated Balance Sheet Green Plains Partners LP (in millions) For the period ending Jun. 30, 2022 Dec. 31, 2021 Assets Current assets $ 34.2 $ 33.0 Property and equipment, net 27.7 28.8 Operating lease right-of-use assets 40.1 38.9 Other assets 14.2 13.8 Total assets $ 116.2 $ 114.5 Li
Slide 13: Condensed Consolidated Income Statement - Green Plains Partners LP
Condensed Consolidated Income Statement Green Plains Partners LP (in millions, except per unit amounts) For the three months ended June 30, 2022 2021 Revenues $ 19.6 $ 19.7 Operating expenses 7.9 8.1 Operating income $ 11.7 $ 11.6 Interest expense (1.4) (1.4) Income tax expense — (0.1) Income from e
Slide 14: Adjusted EBITDA and DCF
Adjusted EBITDA and DCF Green Plains Partners LP (in millions, except ratios) Three Months Ended LTM Ended June 30, June 30, 2022 2021 2022 Net income $ 10.5 $ 10.3 $ 40.2 Interest expense (1) 1.4 1.4 6.7 Income tax expense 0.1 0.1 0.1 Depreciation and amortization 0.8 0.8 3.8 Unit-based compensatio
Slide 15: Appendix
INS Green Pla Appendix =m ~s
Slide 16: Non-GAAP Reconciliation
Non-GAAP Reconciliation Green Plains Inc. (in millions) For the three months ended June 30, 2022 2021 Net income $ 52.7 $ 16.1 Interest expense (1) 7.8 19.1 Income tax expense (benefit) 2.9 (4.8) Depreciation and amortization (2) 21.0 20.5 EBITDA $ 84.4 $ 50.9 Other income (3) (27.7) — Loss on sale