Green Plains, Inc. · NASDAQ:GPRE
Green Plains — Q3 2021 Earnings Presentation
16 slides from Green Plains's earnings presentation, Nov 4, 2021
Slide 1: Third Quarter 2021 Business Update
Third Quarter 2021 Business Update Nov. 4, 2021
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation includes forward-looking statements that reflect management’s current views of company performance, industry c onditions and future economic environment. These statements are based on assumptions and various factors that are subject to risks and uncertain
Slide 3: Green Plains Inc.
B= Green Plains Ingredients that matter Green Plains Inc.
Slide 4: Third Quarter Results
Third Quarter Results Results of Operations • Net loss of $59.6 million, or $(1.18) per diluted share • Adjusted EBITDA of $(14.8) million • Cash, cash equivalents and restricted cash of $720.9 million and $312.6 million available under under committed credit facilities Production Segment • Processe
Slide 5: Business Activity & Updates
Business Activity & Updates • Began operations at Green Plains Wood River LLC’s MSC™ protein system • Broke ground at Green Plains’ Mount Vernon and Obion locations for construction of MSC™ protein technology • Signed an MOU in the pet food vertical for sales of Ultra-High Protein through 2023, with
Slide 6: Selected Operating Data
Selected Operating Data Green Plains Inc. (in thousands ) For the three months ended Sept. 30, 2021 Sept. 30, 2020 Ethanol production Ethanol sold (gallons) 181,214 189,202 Distillers grains sold (equivalent dried tons) 492 479 Corn oil sold (pounds) 55,397 50,953 Corn consumed (bushels) 62,524 65,2
Slide 7: Consolidated Crush Margin
Consolidated Crush Margin Green Plains Inc. For the three months ended Sept. 30, 2021 2020 2021 2020 (in millions) (per gallon produced) Ethanol production: Operating loss ($44.2) ($21.4) ($0.24) ($0.11) Depreciation and amortization 25.6 17.5 0.14 0.09 Total adjusted ethanol production ($18.6) ($3.
Slide 8: Condensed Consolidated Income Statement
Condensed Consolidated Income Statement Green Plains Inc. (in millions, except per share amounts) For the three months ended Sept. 30, 2021 Sept. 30, 2020 Revenues $746.8 $424.1 Costs and expenses 791.5 438.3 Operating loss (44.7) (14.2) Other expense (9.9) (10.1) Income tax expense - (7.3) Income f
Slide 9: Select Balance Sheet Data
Select Balance Sheet Data Green Plains Inc. (in millions, except per share amounts) For the period ending Sept. 30, 2021 Dec. 31, 2020 Cash, cash equivalents and restricted cash $720.9 $274.8 Working capital 206.0 168.8 Working capital financing(1) (162.5) (140.8) Working capital, net 43.5 28.0 Net
Slide 10: Green Plains Partners LP
B= Green Plains Green Plains Pa
Slide 11: Selected Operating Data - Green Plains Partners LP
Selected Operating Data Green Plains Partners LP (in million gallons) For the three months ended Sept. 30, 2021 Sept. 30, 2020 Product volumes Storage and throughput services 182.3 189.6 Terminal services 48.3 52.2 Railcar capacity billed (daily average) 68.6 81.5 11
Slide 12: Condensed Consolidated Balance Sheet - Green Plains Partners LP
Condensed Consolidated Balance Sheet Green Plains Partners LP Assets Sept. 30, 2021 Dec. 31, 2020 Current assets $28.7 $18.0 Property and equipment, net 29.6 32.1 Operating lease right-of-use assets 41.9 40.6 Other assets 15.1 14.6 Total assets $115.3 $105.3 Liabilities and Partners’ Deficit Current
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 Sept. 30, 2021 Sept. 30, 2020 Revenues $19.2 $21.4 Operating expenses 7.1 8.7 Operating income 12.1 12.7 Interest expense (2.8) (2.5) Income tax expense (0.1) - Income f
Slide 14: Adjusted EBITDA and DCF
Adjusted EBITDA and DCF Green Plains Partners LP (in millions) For the three months ended LTM ended Sept. 30, 2021 Sept. 30, 2020 Sept. 30, 2021 Net income $9.4 $10.3 $40.7 Interest expense(1) 2.8 2.5 8.5 Income tax expense 0.1 - 0.3 Depreciation and amortization 1.1 0.9 3.7 Unit-based compensation
Slide 15: Appendix
B= Green Plains Ingredients that matter Appendix
Slide 16: Non-GAAP Reconciliation
Non-GAAP Reconciliation Green Plains Inc. (in millions) For the three months ended Sept. 30, 2021 Sept. 30, 2020 Net loss ($54.4) ($30.7) Interest expense 9.5 10.2 Income tax expense, net of equity method - 7.5 income tax expense Depreciation and amortization (1) 28.3 19.7 EBITDA (16.6) 6.7 Loss (ga