Green Plains ( NASDAQ: GPRE ) +9.8% to its best level since September after reporting a smaller than expected Q4 loss and a 14% rise in revenues from the year-earlier quarter to $914M.
Q4 net loss attributable to the company was $38.6M, or $0.66/share, compared to a year-ago net loss of $9.6M, or $0.18/share, for the same period in 2021.
Q4 ethanol sales increased 12% to 225.2M gallons from 200.5M gallons for the year-ago quarter, and segment revenues jumped 30% Y/Y to $760.4M; agribusiness and service revenues fell 28% to $159.6M.
Green Plains ( GPRE ) said Q4 consolidated ethanol crush margin was $0.03/gal, including the negative impact of winter storms across the platform, while utilization was 93%, "despite the challenging macro operating environment."
"We have begun to see the positive impact from Ultra-High Protein production and expanded oil yields, as they were strong contributors in a weak ethanol margin environment," President and CEO Todd Becker.
In response to the results, analysts at Truist Securities expect to see "measurable improvement" in margins through 2023 after a challenging year for ethanol in 2022, Bloomberg reported.
Green Plains ( GPRE ) shares have gained 28% so far this year and 19% during the past year .
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Green Plains pops to five-month high after Q4 revenue beat