Welcome to our dedicated page for Green Plains Partners LP news (Ticker: GPP), a resource for investors and traders seeking the latest updates and insights on Green Plains Partners LP stock.
Green Plains Partners LP (GPP) is a prominent service provider in the United States offering fuel storage and transportation services. Established in 2015 and headquartered in Omaha, Nebraska, the company is a subsidiary of Green Plains Inc. Green Plains Partners LP focuses on acquiring, owning, developing, and operating ethanol and fuel storage facilities, terminals, and transportation assets.
Currently, Green Plains Partners LP owns or leases 32 ethanol storage facilities and approximately 49 acres of land. They also operate 7 fuel terminals spanning across Alabama, Arkansas, Louisiana, Mississippi, Kentucky, and Oklahoma. Additionally, the company manages a fleet composed of 19 trucks and tankers for the efficient transportation of ethanol and other related products.
Green Plains Holdings LLC acts as the general partner of the company, ensuring strategic alignment and effective management. The company has made significant achievements in expanding its infrastructure and capabilities in the biofuel sector, playing a vital role in the energy supply chain.
With a solid track record of operations and continuous efforts in optimizing its facilities and logistics, Green Plains Partners LP is positioned as a reliable partner in the fuel transportation industry. The company's operations are crucial for supporting the growing demand for sustainable and efficient fuel alternatives.
Green Plains Partners LP (NASDAQ:GPP) reported its Q4 2022 results with a net income of $9.6 million ($0.41 per common unit), and full-year net income of $40.7 million ($1.72 per common unit). Adjusted EBITDA for Q4 was $12.7 million, while full-year adjusted EBITDA reached $51.2 million. Distributable cash flow for Q4 was $10.7 million, with a coverage ratio of 0.99x. The partnership declared a quarterly cash distribution of $0.455 per unit, amounting to $10.8 million. Significant increases in storage and throughput services were noted, with revenues rising by $1.9 million year-over-year.
Green Plains Inc. (NASDAQ: GPRE) reported a fourth quarter net loss of $38.6 million, or $(0.66) per share, worsening from a $9.6 million loss, or $(0.18) per share, a year earlier. Despite a revenue increase to $914 million from $802.3 million, EBITDA plummeted to $5.7 million from $30.3 million. The company achieved a positive ethanol crush margin of $0.03 per gallon, even amidst challenging conditions due to rail delays and winter storms. Protein technology operations expanded, with expected 2023 sales covering 75% of capacity. With strong cash reserves of $500.3 million, the company is well-positioned to pursue its transformation initiatives.
Green Plains Inc. (NASDAQ:GPRE) and Green Plains Partners LP (NASDAQ:GPP) will announce their fourth quarter and full year 2022 financial results before the market opens on February 8, 2023. A joint conference call will follow at 9 a.m. Eastern time to discuss the performance and outlook. Participants can dial in or access the call via the companies' websites. Green Plains Inc. specializes in biorefining technologies, producing low carbon biofuels, and animal feed products. Green Plains Partners provides fuel storage and transportation services.
Green Plains Partners LP (NASDAQ:GPP) declared a quarterly cash distribution of $0.455 per unit for Q4 2022, translating to an annualized rate of $1.82 per unit. This distribution is set for payment on February 10, 2023, to unitholders on record as of February 3, 2023. Additionally, all distributions to foreign investors will be subject to U.S. federal income tax withholding at the highest effective rate, as they relate to income connected with U.S. trade or business.
Green Plains (NASDAQ: GPRE), Tallgrass, and Osaka Gas USA have launched a joint feasibility study to produce up to 200,000 tons per year of synthetic methane in the U.S. Midwest. This project aims to utilize low-carbon hydrogen and biogenic CO2 captured from Green Plains' ethanol biorefineries, with a completion target in mid-2023. The initiative supports decarbonization efforts and aligns with Japan's goal to replace 90% of city gas with e-methane by 2050. This collaboration is expected to enhance clean energy production and CO2 reduction.
Green Plains Partners LP (NASDAQ:GPP) reported a net income of $10.2 million, or $0.43 per unit, for Q3 2022, up from $9.4 million in Q3 2021. The adjusted EBITDA was $13.0 million and distributable cash flow was $11.3 million. The quarterly cash distribution increased to $0.455 per unit, marking the fifth consecutive increase. The distribution coverage ratio stands at 1.05x. The company achieved a 90.9% production utilization rate, with ethanol throughput at 219.7 million gallons.
Green Plains Partners LP (NASDAQ:GPP) has announced a quarterly cash distribution of $0.455 per unit for Q3 2022, marking a consistent increase for the fifth consecutive quarter. This elevates the annualized distribution to $1.82 per unit, payable on November 14, 2022, to unitholders on record as of November 4, 2022. The partnership emphasizes that all distributions to foreign investors are subject to U.S. federal income tax withholding. Green Plains Partners offers storage and transportation services for fuel, operating under a fee-based model.
Green Plains Partners LP (NASDAQ:GPP) reported a net income of $10.5 million, or $0.44 per common unit, for Q2 2022, comparable to Q2 2021. Adjusted EBITDA was $12.9 million with distributable cash flow at $11.3 million.
The board increased the quarterly cash distribution to $0.45 per unit, marking the fourth consecutive increase. The distribution coverage ratio stood at 1.06x while the leverage ratio was 0.82x. Ethanol throughput reached 232.5 million gallons, exceeding commitments.
On July 21, 2022, Green Plains Partners LP (NASDAQ: GPP) declared a quarterly cash distribution of $0.45 per unit for Q2 2022, marking a 4th consecutive increase from the previous $0.445 distribution. This raises the annualized distribution to $1.80 per unit. The payment is scheduled for August 12, 2022, for unitholders on record as of August 5, 2022. This notice also informs foreign investors that distributions are subject to U.S. federal income tax withholding. Green Plains Partners is focused on fuel storage and transportation services.
Green Plains Partners LP (NASDAQ:GPP) reported a Q1 2022 net income of $10.4 million, or $0.44 per common unit, slightly down from $10.7 million in Q1 2021. Adjusted EBITDA decreased to $12.6 million from $13.8 million year-over-year. The partnership increased its cash distribution to $0.445 per unit for the third consecutive quarter, with a distribution coverage ratio of 1.06x. Total debt was reduced by $1.0 million, and leverage ratio stood at 1.15x.
Despite increased distribution, revenues declined, impacted by lower throughput and transportation services.
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