Stock Monitor: Ferro Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 9, 2018 /Active-Investors.com has just released a free earnings report on Green Plains Inc. (NASDAQ: GPRE). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=GPRE. Green Plains reported its fourth quarter and fiscal 2017 operating and financial results on February 07, 2018. The ethanol and fuel storage Company delivered record level of ethanol in the reported quarter. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Ferro Corporation (NYSE: FOE), which also belongs to the Basic Materials sector as the Company Green Plains. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Green Plains most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=GPRE
Earnings Highlights and Summary
Green Plains' revenues were $921.0 million for Q4 2017, down 1% compared to revenues of $932.1 million for Q4 2016. The decline in revenue was attributed to the lower average realized prices for ethanol, partially offset by an increase in revenues related to the cattle feedlot acquisitions during Q1 and Q2 2017. The Company's reported numbers lagged behind analysts' estimates by $23.22 million.
During Q4 2017, Green Plains reported operating income of $7.42 million compared to $56.07 million in Q4 2016, down 86.8% on a y-o-y basis primarily due to lower ethanol margins. The Company's earnings before interest, income taxes, depreciation and amortization (EBITDA) for the reported quarter was $36.1 million compared to $83.5 million for the year ago corresponding period, driven almost entirely by a decrease in ethanol margins slightly offset by better performance in agribusiness and energy services and lower corporate expenses.
For Q4 2017, Green Plains' net income attributable to the Company was $46.6 million, or $0.99 per diluted share, compared to net income of $18.7 million, or $0.47 per diluted share, for Q4 2016. The Company recorded a tax benefit of $63.9 million in the reported quarter, including a $52.8 million benefit related to the revaluation of deferred tax liabilities under the new US corporate tax laws.
On a non-GAAP basis, Green Plains reported net loss of $0.16 per diluted share compared to non-GAAP net income of $0.47 per diluted share in Q4 2016. The Company's reported quarter net loss was higher than Wall Street's estimates for a loss of $0.15 per share.
Green Plains' revenues attributable to the Company were $3.6 billion for the year ended December 31, 2017, compared to $3.4 billion for FY16.
For FY17, net income attributable to Green Plains was $61.1 million, or $1.47 per diluted share, compared to net income of $10.7 million, or $0.28 per diluted share, for FY16. Excluding the impact of the debt refinancing costs and R&D tax credits, reported in Q3 2017, and revaluation of deferred tax liabilities in Q4 2017, net loss attributable to Green Plains was $33.6 million, or $0.86 per diluted share, for FY17.
Operating Results
During Q4 2017, Green Plains produced record 340.8 million gallons of ethanol compared to 334.2 million gallons for Q4 2016. The Company's consolidated ethanol crush margin was $26.8 million, or $0.08 per gallon, for the reported quarter compared to $81.6 million, or $0.24 per gallon, for the year earlier same quarter. The consolidated ethanol crush margin is the ethanol production segment's operating income before depreciation and amortization (D&A), which includes corn oil production, plus intercompany storage, transportation and other fees, net of related expenses.
Cash Matters
As on December 31, 2017, Green Plains had $280.5 million in total cash and cash equivalents, and $391.9 million available under revolving credit agreements. The Company's total debt outstanding at December 31, 2017, was $1.36 billion, including $526.2 million outstanding under working capital revolvers and other short-term borrowing arrangements for the agribusiness and energy services, and the food and ingredients segments.
Stock Performance Snapshot
March 08, 2018 - At Thursday's closing bell, Green Plains' stock slightly dropped 0.82%, ending the trading session at $18.15.
Volume traded for the day: 729.33 thousand shares, which was above the 3-month average volume of 697.99 thousand shares.
Stock performance in the last month - up 8.04%; previous three-month period - up 10.00%; and year-to-date - up 7.72%
After yesterday's close, Green Plains' market cap was at $727.63 million.
Price to Earnings (P/E) ratio was at 349.04.
The stock has a dividend yield of 2.64%.
The stock is part of the Basic Materials sector, categorized under the Specialty Chemicals industry.
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