Benson Hill Inc - BHIL STOCK NEWS

Benson Hill, Inc. (NYSE: BHIL) has announced its acquisition of ZFS Creston, LLC for approximately $102 million, primarily funded through a new debt facility. This acquisition enables Benson Hill to convert proprietary soybeans into valuable soy protein ingredients for human and pet food markets. The Creston facility boosts production capacity for soy-based ingredients, addressing the high demand in the plant-based sector. The move is expected to enhance revenue and improve operations, contributing positively to the company's financial performance.

Benson Hill (NYSE: BHIL) announced that CEO Matt Crisp and CFO DeAnn Brunts will participate in three key industry conferences in early 2022. They will attend FARMCON on January 6 in Kansas City, MO, the ICR Conference 2022 on January 11 in Orlando, FL, and the Family Farms Group Winter Conference on February 8. Discussions will focus on innovation in agribusiness, investment strategies, sustainability, and the evolving market landscape. These engagements aim to position Benson Hill as a leader in food tech and sustainable agriculture.

Benson Hill (NYSE: BHIL) has finalized its 2021 harvest of proprietary Ultra-High Protein (UHP) soybeans, achieving significant data acquisition results that align with its 2022 commercial strategy. The harvest will support the company's ingredient portfolio targeting plant-based meat, specialty cooking oil, and other markets. Notably, over 70,000 acres were planted in 2021, with strong interest from returning and new farmers. The company anticipates substantial growth in its Ingredient segment, further bolstered by its recently acquired Indiana-based soy crushing facility.

Benson Hill reported Q3 2021 results with revenues of $32.0 million, reflecting a 13% increase year-over-year and 35% growth excluding prior barley sales. Despite revenue growth, gross profit fell to $0.4 million, a decrease of $0.9 million. The net loss widened to $34.3 million compared to $16.9 million in Q3 2020. The Company anticipates achieving its 2021 revenue guidance of $127 million. Investments in a new soy crush facility and a Crop Accelerator mark strategic advancements in the plant-based market.

Benson Hill (NYSE: BHIL) announced the appointment of new senior executives as part of its strategy to enhance its soybean ingredient portfolio and explore the growing meat alternative market, projected to reach $140 billion by 2029. The new hires include Andres Martin, Trent Collins, and Ratna Mukherjea, who bring diverse expertise in agribusiness, ingredient operations, and food innovation. CEO Matt Crisp emphasized that their experience will drive execution and innovation as the company aims to capitalize on sustainability trends in food production.

Benson Hill (NYSE: BHIL) announced participation at two upcoming virtual events. CEO Matt Crisp will speak at the Roth Capital Virtual Conference on November 16, 2021, focusing on agricultural innovation. CFO DeAnn Brunts will join him at the Canaccord Genuity Virtual Forum on December 2, 2021. These forums will feature discussions around technology and innovation in agriculture, aimed at enhancing the food supply chain.

Benson Hill (NYSE: BHIL) announces a seven-day Q&A forum for retail and other investors, allowing them to submit questions until November 8, 2021. The top questions will be addressed during a live Q&A session on November 15, 2021, at 8:30 am ET, coinciding with the company's third-quarter earnings webcast. This initiative aims to enhance transparency and engagement, facilitated by a partnership with Say Technologies, enabling easier communication for investors. For participation details, registered investors can visit the Say Connect platform.

Benson Hill has opened its new Crop Accelerator, a state-of-the-art research facility located near its St. Louis headquarters, ahead of schedule and under budget. This facility enhances its CropOS® technology platform by providing a twenty-fold increase in testing capacity. The first crops, soybean and yellow pea seeds, were planted on September 17, enabling rapid testing and selection of genetic targets. The Crop Accelerator is a crucial step in meeting the growing demand for alternative meat products, projected to reach $140 billion by 2029.