Benson Hill, Inc. - BHIL STOCK NEWS

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.

Treble, a tech-centric PR agency, expands its operations into San Diego, a rapidly growing startup market that attracted nearly $2 billion in venture capital in Q3 2021, reflecting a 62% growth year-over-year. The agency has facilitated 18 successful client exits since 2013, contributing to substantial shareholder valuations. Katie LeChase is appointed to lead Treble's San Diego operations, highlighting the area's diversification beyond life sciences into defense tech. Treble's scalable offerings include programs designed for startups to enhance visibility and funding success.

Benson Hill (NYSE: BHIL) announced the appointment of Linda Whitley-Taylor and Molly Montgomery to its Board of Directors, aimed at enhancing its growth as a sustainable food tech company. Whitley-Taylor, with a strong background in HR, will chair the Compensation Committee, focusing on talent retention. Montgomery, an experienced public company director, will head the Sustainability and Governance Committee, emphasizing ESG priorities. These appointments come as Benson Hill builds momentum in its supply chain for proprietary soybean ingredients to promote sustainable food options.

Benson Hill announced it will release its financial results for Q3 2021 on November 15, 2021, before market open. The company's pro forma balance sheet shows nearly $300 million in cash and marketable securities, facilitating its strategic growth. The merger with Star Peak Corp II marks a milestone, expanding its shareholder base with 160 million shares. Notable achievements include a 133% increase in proprietary soybean planted acres and the acquisition of a soy crushing facility. A webcast will follow the earnings release, featuring a discussion by CEO Matt Crisp.

Benson Hill has successfully completed its business combination with Star Peak Corp II, resulting in the company now trading under the ticker BHIL on the NYSE as of September 30, 2021. This transaction generates approximately $320 million in gross proceeds, enhancing Benson Hill's capacity for growth in the plant-based food sector. The company aims to leverage its CropOS® technology platform for innovation in sustainable food production, and has reported a 28% increase in revenue to $39.7 million for Q2 2021, indicating strong momentum.