Renewable Energy Group, Inc. - REGI STOCK NEWS

Renewable Energy Group (NASDAQ:REGI) will participate in several virtual investor conferences. On May 13, 2021, the team will attend the Credit Suisse Renewables and Utilities Conference, with one-on-one meetings available. On May 19, 2021, at 10:00 AM ET, they will present during a Fireside Chat at the BMO Farm to Market Conference, also offering individual meetings. Finally, on June 9, 2021, at 2:35 PM ET, REGI will present at the Baird 2021 Global Consumer, Technology & Services Conference. REGI is a leading producer of advanced biodiesel, contributing to lower carbon emissions.

Renewable Energy Group (REGI) announced plans to offer $500 million in senior secured notes due in 2028 through a private placement. Estimated net proceeds of approximately $489 million will finance or refinance eligible green projects, such as the expansion of REG's Geismar, Louisiana biorefinery. The offering will comply with regulations, being available only to qualified institutional buyers. REG is a leader in cleaner fuels, aiming to meet global demand for lower carbon options, with significant production in 2020 resulting in a 4.2 million metric tons carbon reduction.

Renewable Energy Group (NASDAQ: REGI) reported Q1 2021 revenues of $540 million, a 14.1% increase from Q1 2020. However, net income was $39 million, down 47.3% year-over-year. Adjusted EBITDA also fell 36.8% to $56 million. The decline in earnings was driven by increased feedstock costs and a significant swing in risk management gains compared to the previous year. Despite these challenges, the company remains optimistic about growing demand for lower carbon fuels and plans to expand its Geismar facility. Cash reserves increased to $611 million, bolstered by a recent equity raise.

Renewable Energy Group (NASDAQ:REGI) will announce its Q1 2021 financial results on May 3, 2021, after market close. A conference call will be held at 4:30 p.m. ET, featuring insights from CEO Cynthia Warner and CFO Craig Bealmear. Investors can join by phone or listen via a live webcast available on the company's Investor Relations page. REGI is a leader in transforming renewable resources into cleaner fuels and produced 519 million gallons of biodiesel in 2020, reducing over 4.2 million metric tons of carbon emissions.

Renewable Energy Group (NASDAQ: REGI) has appointed R. Craig Bealmear as Chief Financial Officer, effective April 19, 2021. Bealmear brings over 28 years of experience in finance and strategy from the oil and gas sector, previously serving as CFO for North America Fuels at BP. His expertise aligns with REG's growth strategy in low-carbon fuels. Todd Robinson, the Interim CFO, will take on the role of Deputy CFO while retaining Treasurer duties. REG aims to enhance its global presence and continues to lead in sustainable fuel production, achieving significant carbon reductions.

Renewable Energy Group (NASDAQ: REGI) announced the redemption of its 4.00% Convertible Senior Notes due 2036 on June 15, 2021. The redemption price will equal 100% of the principal amount, and holders as of June 1, 2021, will receive unpaid interest. Approximately $31.4 million of these notes are outstanding. The notes can be converted into cash and shares until June 11, 2021. Post-redemption, interest will cease, and holders will need to surrender their notes to receive the redemption price. Wilmington Trust is notifying all registered noteholders.

Renewable Energy Group (NASDAQ: REGI) announced a public offering of 5,000,000 shares of common stock priced at $67.00 each, raising approximately $335 million. The offering, increased from 4,500,000 shares, is set to close around March 19, 2021. Proceeds will support working capital, existing debt repayment, and potential capital expenditures, particularly expansion of the Geismar, Louisiana biorefinery. Additionally, underwriters have a 30-day option to purchase up to 750,000 more shares. REG is the largest biodiesel producer in North America, focusing on sustainability.

Renewable Energy Group (NASDAQ: REGI) has announced a public offering of 4,500,000 shares of its common stock, with an option for underwriters to purchase an additional 675,000 shares. The proceeds will be used for working capital, repayment of debt, and capital expenditures, including expansion of its Geismar, Louisiana biorefinery. The offering, managed by Credit Suisse, BofA Securities, and Guggenheim Securities, is subject to market conditions with no guarantees regarding its completion or terms.

Renewable Energy Group (NASDAQ:REGI) announced its financial results for Q4 2020 and full-year 2020. The company is restating financial statements for 2018-2020, acknowledging a $38.2 million adjustment due to improper biodiesel tax credit claims. Despite challenges, REG reported net income of $120 million for 2020, with record production. Q4 revenues declined 45% to $548 million, driven by prior year BTC benefits and lower ULSD prices. Challenges included increased operational costs and market volatility, though strong demand for renewable diesel is expected in 2021.