Green Plains, Inc. · NASDAQ:GPRE
Green Plains — Q4 2023 Earnings Presentation
11 slides from Green Plains's earnings presentation, Feb 7, 2024
Slide 1: Fourth Quarter 2023 Business Update
Fourth Quarter 2023 Business Update February 7, 2024
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. 3
Slide 4: Fourth Quarter 2023 Results
Fourth Quarter 2023 Results Results of Operations • Net income attributable to Green Plains of $7.2 million, or EPS of $0.12 per diluted share • EBITDA of $44.7 million • Cash and cash equivalents, and restricted cash of $378.8 million and $251.0 million available under a committed credit facility P
Slide 5: Business Activity & Updates
Business Activity & Updates • Completed acquisition of Green Plains Partners LP, streamlining operations, improving efficiencies and improving cash flow • The Board of Directors is initiating a comprehensive strategic review process to explore all opportunities to enhance value • Continued developme
Slide 6: Selected Operating Data
Selected Operating Data Green Plains Inc. (in thousands) For the three months ended December 31, 2023 2022 Ethanol production Ethanol sold (gallons) 215,717 225,206 Distillers grains sold (equivalent dried tons) 479 563 Ultra-High Protein sold (tons) 66 22 Renewable corn oil sold (pounds) 72,934 77,
Slide 7: Consolidated Crush Margin
Consolidated Crush Margin Green Plains Inc. For the three months ended December 31, 2023 2022 (in millions) Ethanol production Operating income (loss) (1) $ 10.8 $ (29.9) Depreciation and amortization 22.4 22.4 Total adjusted ethanol production $ 33.2 $ (7.5) Intercompany fees, net Storage and logis
Slide 8: Condensed Consolidated Income Statement
Condensed Consolidated Income Statement Green Plains Inc. (in millions, except per share amounts) For the three months ended December 31, 2023 2022 Revenues $ 712.4 $ 914.0 Costs and expenses 696.1 937.0 Operating income (loss) $ 16.3 $ (23.0) Other expense (4.5) (4.6) Income tax benefit (expense) 0
Slide 9: Select Balance Sheet Data
Select Balance Sheet Data Green Plains Inc. (in millions, except per share amounts) For the period ending December 31, 2023 2022 Cash and cash equivalents, and restricted cash $ 378.8 $ 500.3 Working capital $ 99.7 $ 101.8 Working capital financing (1) (106.0) (137.7) Working capital, net $ (6.3) $
Slide 10: Appendix
Appendix as . = Green Plains a
Slide 11: Non-GAAP Reconciliation
Non-GAAP Reconciliation Green Plains Inc. (in millions) For the three months ended December 31, 2023 2022 Net income (loss) $ 11.9 $ (32.3) Interest expense 8.7 6.4 Income tax expense (benefit) (0.2) 4.9 Depreciation and amortization (1) 24.3 26.7 EBITDA $ 44.7 $ 5.7 Loss on sale of assets, net 0.4