![]() Īdjusted EBITDA and distributable cash flow are supplemental financial measures used to assess the partnership’s financial performance. Alternatively, the conference call will be accessible on Green Plains Partners’ website at. All registrants will receive dial-in information and a unique PIN. To participate in the live call, please pre-register here. Central time) to discuss third quarter 2022 financial and operating results for each company. will host a joint conference call at 9 a.m. On November 3, 2022, Green Plains Partners LP and Green Plains Inc. Total debt outstanding was $58.5 million, net of debt issuance costs of $0.5 million. Total liquidity as of September 30, 2022 consisted of $15.7 million in cash and cash equivalents. ![]() These credits have been recognized in revenue by the partnership, and as such, future volumes throughput by Green Plains Trade in excess of the quarterly minimum volume commitment, up to the amount of these credits, will not be recognized in revenue in future periods prior to expiration. If these credits are unused by Green Plains Trade, $0.8 million will expire on December 31, 2022, and $1.1 million will expire on March 31, 2023. ![]() Prior year credits of $1.8 million expired unused, leaving a cumulative balance of minimum volume deficiency credits available to Green Plains Trade as of Septemof $1.9 million. As a result, a prior period deficiency credit of $0.1 million was utilized toward the excess volume. ![]() Ethanol throughput was 219.7 million gallons, which exceeded the contracted minimum volume commitment. Operations and maintenance expenses increased by $1.1 million for the three months ended September 30, 2022, compared with the same period for 2021.ĭuring the third quarter of 2022, Green Plains Inc.’s average production utilization rate was approximately 90.9% of capacity. The distribution is payable on November 14, 2022, to unitholders of record at the close of business on November 4, 2022.Ĭonsolidated revenues for the three months ended September 30, 2022 increased by $0.8 million compared with the same period for 2021. On October 20, 2022, the board of directors of the partnership’s general partner increased the quarterly cash distribution to $0.455 per unit, or approximately $10.8 million, for the third quarter of 2022.Third Quarter Highlights and Recent Developments “Strong liquidity and achieving higher year over year throughput rates resulted in stable earnings and cash flow at the partnership and higher cash distributions for our unitholders.” “We were pleased to increase the quarterly distribution for the fifth consecutive quarter,” said Todd Becker, President and Chief Executive Officer. Distribution coverage was 1.05x for the three months ended September 30, 2022. The partnership also reported adjusted EBITDA of $13.0 million and distributable cash flow of $11.3 million for the third quarter of 2022, compared with adjusted EBITDA of $13.5 million and distributable cash flow of $11.5 million for the same period in 2021. Net income attributable to the partnership was $10.2 million, or $0.43 per common unit, for the third quarter of 2022, compared with net income of $9.4 million, or $0.40 per common unit, for the same period in 2021. 03, 2022 (GLOBE NEWSWIRE) - Green Plains Partners LP (NASDAQ:GPP) today announced financial and operating results for the third quarter of 2022. Leverage ratio, net of cash 0.84x Adjusted EBITDA.Distribution coverage ratio of 1.05x LTM distribution coverage ratio of 1.06x.Quarterly cash distribution increased to $0.455 per unit.Adjusted EBITDA of $13.0 million and distributable cash flow of $11.3 million.Net income of $10.2 million, or $0.43 per common unit.
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