Green Plains, Inc. · NASDAQ:GPRE
Green Plains — Q2 2021 Earnings Presentation
16 slides from Green Plains's earnings presentation, Aug 2, 2021
Slide 1: Second Quarter 2021 Business Update
Second Quarter 2021 Business Update August 2, 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 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: Second Quarter Results
Second Quarter Results Results of Operations • Net income of $9.7 million, or $0.20 per diluted share • Adjusted EBITDA of $54.8 million • Cash, cash equivalents and restricted cash of $615.4 million and $294.2 million available under under committed credit facilities Production Segment • Processed
Slide 5: Business Activity & Updates
Business Activity & Updates • Announced Fagen, Inc. as exclusive construction partner for Ultra-High Protein buildout • Announced ground breaking at Green Plains Central City LLC for construction of MSC™ Ultra-High Protein • Began operations for the clean sugar project at Innovation Center at York,
Slide 6: Selected Operating Data
Selected Operating Data Green Plains Inc. (in thousands ) For the three months ended Jun 30, 2021 Jun 30, 2020 Ethanol production Ethanol sold (gallons) 190,913 149,872 Distillers grains sold (equivalent dried tons) 494 383 Corn oil sold (pounds) 54,875 39,496 Corn consumed (bushels) 65,424 51,908 A
Slide 7: Consolidated Crush Margin
Consolidated Crush Margin Green Plains Inc. For the three months ended June 30, 2021 2020 2021 2020 (in millions) (per gallon produced) Ethanol production: Operating income (loss) $33.5 ($18.8) $0.18 ($0.13) Depreciation and amortization 18.5 17.2 0.10 0.12 Total adjusted ethanol production 52.0 (1.
Slide 8: Condensed Consolidated Income Statement
Condensed Consolidated Income Statement Green Plains Inc. (in millions, except per share amounts) For the three months ended Jun 30, 2021 Jun 30, 2020 Revenues $724.4 $388.0 Costs and expenses 693.4 407.4 Operating income (loss) 31.0 (19.4) Other expense (1) (19.9) (9.6) Income tax benefit 4.8 11.5
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, 2021 Dec 31, 2020 Cash, cash equivalents and restricted cash $615.4 $274.8 Working capital 237.0 168.8 Working capital financing(1) (174.0) (140.8) Working capital, net 63.0 28.0 Net inv
Slide 10: Green Plains Partners LP
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Slide 11: Selected Operating Data - Green Plains Partners LP
Selected Operating Data Green Plains Partners LP (in million gallons) For the three months ended Jun 30, 2021 Jun 30, 2020 Product volumes Storage and throughput services 191.8 150.1 Terminal services 48.7 46.4 Railcar capacity billed (daily average) 69.4 80.9 11
Slide 12: Condensed Consolidated Balance Sheet - Green Plains Partners LP
Condensed Consolidated Balance Sheet Green Plains Partners LP Assets Jun 30, 2021 Dec 31, 2020 Current assets $13.3 $18.0 Property and equipment, net 30.6 32.1 Operating lease right-of-use assets 43.7 40.6 Other assets 14.9 14.6 Total assets $102.5 $105.3 Liabilities and Partners’ Deficit Current 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 Jun 30, 2021 Jun 30, 2020 Revenues $19.7 $20.4 Operating expenses 8.1 8.5 Operating income 11.6 11.9 Interest expense (1.4) (1.8) Income tax expense (0.1) (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 Jun 30, 2021 Jun 30, 2020 Jun 30, 2021 Net income $10.3 $10.2 $41.6 Interest expense 1.4 1.8 8.2 Income tax expense 0.1 0.1 0.2 Depreciation and amortization 0.8 1.0 3.6 Unit-based compensation expens
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 Jun 30, 2021 Jun 30, 2020 Net income (loss) $16.1 ($5.5) Interest expense (1) 19.1 9.7 Income tax benefit, net of equity method income (4.8) (7.7) tax expense Depreciation and amortization (2) 20.5 19.4 EBITDA 50.9 15