Slide 1: Second Quarter 2020 Business Update
Second Quarter 2020 Business Update August 4, 2020
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 Inc. TS | . > Green Plains
Slide 4: Second Quarter 2020 Operating Results
Second Quarter 2020 Operating Results ▪ Results of Operations • Net loss of $8.2 million, or $(0.24) per diluted share • Adjusted EBITDA of $17.9 million • Cash, cash equivalents and restricted cash of $183.6 million; availability under revolving credit agreements of $289.0 million at June 30, 2020
Slide 5: Business Activity
Business Activity ▪ Sold FCC Grade alcohol to strategic commercial counterparties for the production of hand sanitizer and disinfectants ▪ Announced USP Grade alcohol upgrades at Green Plains York and Green Plains Wood River resulting in a combined capacity of 75 million gallons of USP Grade alcohol
Slide 6: Selected Operating Data
Selected Operating Data Green Plains Inc. (in thousands ) For the three months ended Jun 30, 2020 Jun 30, 2019 Ethanol production Ethanol sold (gallons) 149,872 224,023 Distillers grain sold (equivalent dried tons) 383 586 Corn oil sold (pounds) 39,496 53,040 Corn consumed (bushels) 51,908 77,963 Ag
Slide 7: Consolidated Crush Margin
Consolidated Crush Margin Green Plains Inc. For the three months ended Jun 30, 2020 2019 2020 2019 (in millions) (per gallon produced) Ethanol production: Operating loss ($18.8) ($53.8) ($0.13) ($0.24) Depreciation and amortization 17.2 15.4 0.12 0.07 Total adjusted ethanol production ($1.6) ($38.4)
Slide 8: Select Balance Sheet Data
Select Balance Sheet Data Green Plains Inc. (in millions, except per share amounts) For the period ending Jun 30, 2020 Dec 31, 2019 Cash, cash equivalents and restricted cash $183.6 $269.9 Working capital 191.2 193.2 (1) Working capital financing (131.4) (187.8) Working capital, net 59.8 5.4 Net inv
Slide 9: Condensed Consolidated Income Statement
Condensed Consolidated Income Statement Green Plains Inc. (in millions, except per share amounts) For the three months ended Jun 30, 2020 Jun 30, 2019 Revenues $418.0 $630.6 Costs and expenses 437.4 677.2 Operating loss (19.4) (46.6) Other expense (9.6) (10.8) Income tax benefit 11.5 15.3 Income fro
Slide 10: Green Plains Partners LP
Green Plains Partners LP | SWZ | . > Green Plains
Slide 11: Selected Operating Data
Selected Operating Data Green Plains Partners LP (in million gallons) For the three months ended Jun 30, 2020 Jun 30, 2019 Product volumes Storage and throughput services 150.1 225.1 Terminal services 46.4 57.0 Railcar capacity billed (daily average) 80.9 81.1 Second Quarter 2020 Business Update | A
Slide 12: Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet Green Plains Partners LP (in millions) Assets Jun 30, 2020 Dec 31, 2019 Current assets $21.2 $17.4 Property and equipment, net 36.0 37.4 Operating lease right-of-use assets 33.9 35.5 Other assets 14.2 15.4 Total assets $105.3 $105.7 Liabilities and Partners’ Defi
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 Jun 30, 2020 Jun 30, 2019 Revenues $20.4 $20.8 Operating expenses 8.5 8.0 Operating income 11.9 12.8 Interest expense and other (1.8) (2.2) Income tax expense (0.1) - In
Slide 14: Adjusted EBITDA and DCF
Adjusted EBITDA and DCF Green Plains Partners LP (in millions) For the three months ended LTM ended Jun 30, 2020 Jun 30, 2019 Jun 30, 2020 Net income $10.2 $10.7 $41.1 Interest expense 1.8 2.2 7.8 Income tax expense 0.1 - 0.2 Depreciation and amortization 1.0 0.8 3.6 Unit-based compensation expense
Slide 15: Appendix
Appendix TS | . > Green Plains
Slide 16: Non-GAAP Reconciliation
Non-GAAP Reconciliation Green Plains Inc. (in millions) For the three months ended Jun 30, 2020 Jun 30, 2019 Net loss from continuing operations including ($5.5) ($42.1) noncontrolling interest Interest expense 9.7 11.2 Income tax benefit, net of equity method income tax (7.7) (15.3) expense Depreci
Slide 17: Production and Utilization History
Production and Utilization History Green Plains Inc. (% of capacity) (mmgy) 400 100% 350 300 80% 250 60% 200 40% 150 100 20% 50 0% - Production % of Capacity Production Capacity Second Quarter 2020 Business Update | August 4, 2020 Page 17
Slide 18: Green Plains Inc. | NASDAQ: GPRE | www.gpreinc.com
Green Plains Inc. | NASDAQ: GPRE | www.gpreinc.com Green Plains Partners LP | NASDAQ: GPP | www.greenplainspartners.com