OMAHA, Neb., May 03, 2021 per diluted share, for the same period in 2020.
Additionally, our 1.0 platform performed well, as our risk management and hedging programs were beneficial to the quarter,” said Todd Becker, president and chief executive officer.
“Moving forward, we are focused on announcing the construction sequence of MSC Ultra-High Protein deployment, finalizing our selection of a general contractor to build our Ultra-High Protein technology across our biorefinery platform, finalizing Project 24, beginning production of Ultra-High Protein at our Wood River, Nebraska biorefinery and startup of clean sugar production at our York Innovation Center.
“The potential to provide low or even zero carbon biofuels, renewable corn oil and high value protein feed ingredients aligns perfectly with the growing global demand for reduced or net zero carbon products.
The consolidated ethanol crush margin is the ethanol production segment’s operating income before depreciation and amortization, which includes corn oil and Ultra-High Protein, plus intercompany storage, transportation, nonrecurring decommissioning costs and other fees, net of related expenses.
Operating income increased $85.7 million for the three months ended March 31, 2021, compared with the same period last year primarily due to a gain on the sale of certain assets of $36.9 million in the current year quarter, $24.1 million noncash goodwill impairment in the prior year quarter and improved margins on ethanol production.
Intercompany fees charged to the ethanol production segment for storage and logistics services, grain procurement and product sales are included in the partnership and agribusiness and energy services segments and eliminated upon consolidation.
Liquidity and Capital ResourcesOn March 31, 2021, Green Plains had $654.4 million in total cash, cash equivalents and restricted cash, and $330.4 million available under committed credit facilities, which are subject to restrictions and other lending conditions.
Domestic and international participants can access the conference call by dialing 877.711.2374 and 281.542.4862, respectively, and referencing conference ID 9070109.
Adjusted EBITDA includes adjustments related to our proportional share of EBITDA adjustments of our equity method investees, gains and losses related to the sale of assets, and noncash goodwill impairment.
is a leading biorefining company focused on the development and utilization of fermentation, agricultural and biological technologies in the processing of annually renewable crops into sustainable value-added ingredients.
to provide fuel storage and transportation services by owning, operating, developing and acquiring ethanol and fuel storage terminals, transportation assets and other related assets and businesses.
Factors that could cause actual results to differ materially from those expressed or implied include: disruption caused by health epidemics, such as the coronavirus outbreak, competition in the industries in which Green Plains operates; commodity market risks, financial market risks; counterparty risks; risks associated with changes to federal policy or regulation, including changes to tax laws; risks related to closing and achieving anticipated results from acquisitions and disposals.