Benson Hill, Inc. - BHIL STOCK NEWS

Benson Hill (NYSE: BHIL) hosted its 2023 Investor Day, unveiling its strategic initiatives to meet demand for plant-based products. The company highlights its CropOS® technology platform, aiming for 40-50% proprietary revenue growth in 2023 and a doubling of gross profit. A significant partnership with ADM will launch a portfolio of soy products in Q2 2023. Benson Hill signed a non-binding term sheet for a $100 million debt facility, aiming for positive cash flow by 2025. Key pipeline advancements include new Ultra High Protein varieties and enhanced soybean breeding through collaboration with Corteva Agriscience.

Benson Hill, Inc. (NYSE: BHIL) reported a remarkable 319% revenue increase to $381 million for 2022, with proprietary revenues nearly doubling to $73 million. Gross profit stood at $3.5 million, impacted by a $4.9 million loss from mark-to-market timing differences. The company anticipates proprietary revenues to grow to $100-$110 million in 2023, driving gross profit to $20-$30 million. Despite a projected net loss of $125-$135 million in 2023 and further capital expenditures, management remains committed to achieving positive Adjusted EBITDA by 2025, supported by strategic investments in high-margin products.

Benson Hill (NYSE: BHIL) reported preliminary, unaudited 2022 financial results amidst strong demand for its proprietary soy products. Consolidated revenues are estimated between $379 and $383 million, with proprietary revenues reaching $71 to $73 million. The company anticipates a net loss from continuing operations of $(98) to $(102 million). For 2023, revenues are projected between $390 and $430 million, with proprietary revenues expected at $100 to $110 million. Management highlights ongoing growth in the soy portfolio despite higher operational costs impacting gross profit.

Benson Hill, Inc. (NYSE: BHIL) has announced a significant breakthrough in CRISPR technology through a study published in Nature. The research reveals a new mechanism for CRISPR systems, focusing on Cas12a2, which has demonstrated potential for applications beyond gene editing, including cancer therapeutics and programmable microbial community shaping. This collaboration with international scientists aims to harness genetic diversity to advance food innovation. The study also demonstrates that specific sequences can enable RNA detection, enhancing CRISPR-based tools for targeted cellular activity.

Benson Hill (NYSE: BHIL) has announced the divestiture of its Fresh business in a two-part transaction totaling $21 million. The initial $18 million was received in 2022, with the remaining $3 million expected to close in Q2 2023. This move allows the company to concentrate on its Ingredients segment, meeting the increased demand for its proprietary soybean products. Management has reaffirmed its 2022 and 2025 financial guidance, projecting segment revenues between $370 million to $390 million and expects positive EBITDA and free cash flow by 2025.

Benson Hill, Inc. (NYSE: BHIL) reported a significant revenue increase of 307% year-over-year, reaching $130 million for Q3 2022, primarily driven by a 429% surge in its Ingredients segment. The company raised its 2022 revenue guidance to $430 million to $455 million, with expected gross profits of $14 million to $17 million. Despite a net loss of $30.2 million, management aims for positive EBITDA by 2025. The Fresh segment witnessed a 11% revenue decline due to adverse weather conditions. The company is also pursuing strategic options for its Fresh business.

Benson Hill, a food tech company focused on unlocking plant genetic diversity, announced that its CEO, Matt Crisp, and CFO, Dean Freeman, will participate in two significant investor conferences. The first event is the Roth Capital 2nd Annual Ag Tech Answers Conference on Nov. 15, 2022, in New York, aimed at connecting executive management with investors. The second event is the 2022 AgriFood Tech Innovation Virtual Forum on Dec. 1, 2022, where management will engage in a fireside chat at 1:30 p.m. ET. Further details are available on Benson Hill's investor relations site.