Slide 1: Second Quarter 2018 Business Update
Second Quarter 2018 Business Update August 1, 2018
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: Second Quarter Highlights
Second Quarter Highlights • Net loss of $1.0 million or $(0.02) per share; EBITDA of $41.8 million – Includes $8.3 million for R&D credits related to current and prior periods • Acquires Bartlett Cattle Company, expanding cattle feeding operations to 355,000 head • Portfolio optimization plan update
Slide 4: Green Plains Inc.
Green Plains Inc. | SWZ | . > Green Plains
Slide 5: Selected Operating Data
Selected Operating Data Green Plains Inc. (in thousands ) For the three months ended Jun 30, 2018 Jun 30, 2017 Ethanol production Ethanol (gallons) 296,282 275,539 Distillers grains (equivalent dried tons) 739 728 Corn oil (pounds) 75,556 65,685 Corn consumed (bushels) 103,147 95,680 Agribusiness an
Slide 6: Consolidated Crush Margin
Consolidated Crush Margin Green Plains Inc. For the three months ended Jun 30, 2018 2017 2018 2017 (in millions) (per gallon produced) Ethanol production: Operating loss $(17.2) $(22.4) $(0.05) $(0.08) Depreciation and amortization 20.5 20.1 0.07 0.08 Total ethanol production 3.3 (2.3) 0.02 0.00 Int
Slide 7: Condensed Balance Sheet
Condensed Balance Sheet Green Plains Inc. (in millions) Assets Jun 30, 2018 Dec 31, 2017 Current assets $1,092.8 $1,206.5 Property and equipment, net 1,139.2 1,176.7 Other assets 353.8 401.5 Total assets $2,585.8 $2,784.7 Liabilities and Stockholders’ Equity Current liabilities $725.5 $886.3 Long-te
Slide 8: Condensed Income Statement
Condensed Income Statement Green Plains Inc. (in millions, except per share amounts) For the three months ended Jun 30, 2018 Jun 30, 2017 Revenues $986.8 $886.2 Costs and expenses 975.0 890.0 Operating income (loss) 11.8 (3.8) Interest expense and other (18.8) (17.7) Income tax benefit 10.8 9.7 Net
Slide 9: Segment Operations
Segment Operations Green Plains Inc. (in millions) For the three months ended Jun 30, 2018 Jun 30, 2017 Operating income (loss) Ethanol production (17.2) (22.5) Agribusiness and energy services 12.2 3.1 Food and ingredients 13.0 10.7 Partnership 16.1 14.8 Corporate activities (12.3) (9.9) 11.8 (3.8)
Slide 10: Liquidity and Capital Structure
Liquidity and Capital Structure Green Plains Inc. (in millions, except per share and per gallon amounts) For the three months ended Jun 30, 2018 Mar 31, 2018 Jun 30, 2017 Gross debt $1,295.3 $1,370.4 $1,081.4 Working capital financing 457.5 533.7 341.5 Term and convertible debt 837.8 836.7 739.9 Cas
Slide 11: Green Plains Partners LP
Green Plains Partners LP | SWZ | . > Green Plains
Slide 12: Selected Operating Data
Selected Operating Data Green Plains Partners LP (in million gallons) For the three months ended Jun 30, 2018 Jun 30, 2017 Product volumes Storage and throughput services 314.3 284.5 Terminal services 67.0 77.5 Railcar capacity billed (daily average) 98.6 91.4 | Page 12
Slide 13: Condensed Balance Sheet
Condensed Balance Sheet Green Plains Partners LP (in millions) Assets Jun 30, 2018 Dec 31, 2017 Current assets $21.5 $21.6 Property and equipment, net 47.2 48.3 Other assets 23.5 22.4 Total assets $92.2 $92.3 Liabilities and Partners’ Capital Current liabilities $17.5 $16.0 Long-term debt 136.9 134.
Slide 14: Consolidated Income Statement
Consolidated Income Statement Green Plains Partners LP (in millions, except per unit amounts) For the three months ended Jun 30, 2018 Jun 30, 2017 Revenues $25.8 $25.1 Operating expenses 10.2 10.7 Operating income 15.6 14.4 Interest expense and other (1.8) (1.3) Income tax expense - - Loss from equi
Slide 15: Adjusted EBITDA and DCF
Adjusted EBITDA and DCF Green Plains Partners LP (in millions) For the three months ended LTM ended Jun 30, 2018 Jun 30, 2017 Jun 30, 2018 Net income $13.7 $13.1 $57.9 Interest expense 1.8 1.3 6.3 Income tax expense - - 0.1 Depreciation and amortization 1.1 1.2 4.9 Minimum volume commitment adjustme
Slide 16: Appendix
Appendix | SWZ | . > Green Plains
Slide 17: Production and Utilization History
Production and Utilization History Green Plains Inc. (% of capacity) (mmgy) 110% 400 100% 350 90% 300 80% 70% 250 60% 200 50% 40% 150 30% 100 20% 50 10% 0% - Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16 Q1-17 Q2-17 Q3-17 Q4-17 Q1-18 Q2-18 Production
Slide 18: Non-GAAP Reconciliation
Non-GAAP Reconciliation Green Plains Inc. (in millions) For the three months ended Jun 30, 2018 Jun 30, 2017 Net income (loss) $3.8 $(11.8) Interest expense 22.0 19.4 Income tax benefit (10.8) (9.7) Depreciation and amortization 26.8 26.2 EBITDA $41.8 $24.1 | Page 18
Slide 19: 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