Wednesday, July 27, 2011

GPRE Reports

 "Corn oil production, marketing and distribution, and agribusiness accounted for 42% of segment operating income, allowing us to record our ninth consecutive quarter of profitability during a period of compressed ethanol industry margins. We expect the contribution from corn oil production to increase further as eight of our nine plants are fully operational and the ninth plant is expected to have corn oil extraction technology deployed by the end of the third quarter. We also produced and sold a record 184 million gallons of ethanol, which is a 41% increase over the second quarter of 2010," Becker added.

"We expect our profitability to improve sequentially over the next two quarters, as ethanol margins have expanded over the last 90 days. We have been able to lock away significant portions of our ethanol margins, all corn oil production will be online and the market remains strong for each of these products. Our agribusiness segment should have a solid finish in 2011 as crops around our facilities are currently in good shape," commented Becker.
SEE HERE


SkunK


PS look at those charts on the bottom for corn oil - that is in thousands.

5 comments:

skribe said...

Produced 21.5 million gallons corn oil!

Skribe said...

I meant lbs. not gallons.
2,792,207 gallons
I'm factoring 7.7 lbs per Gallon crude corn oil, from 21.5 million lbs.
I'm figuring 20% is .95
I used a crude corn oil market price of 61.5 cents lb.
$2,652,597 GreenShifts 2nd qtr take !
That's just from GPRE.
Just trying to get an idea of GreenShift 2nd qtr take from GPRE.

If my info is off please correct me with links to the correct info.

jlglex said...

That sounds ABOUT right to me, maybe a little bit high, because the published price ($0.615/#) is usually higher (for most commodities) than the transactional price.

I think $2 Million even, from GPRE, is a safer bet.

Skribe said...

I've been doing some figuring on GPREs 672 mmgy online, last plant not on yet. And calculated a max production and sales figure. Extracting at 4.4%, I use that because it's in their reports as method 1 optimized 4.4%.
I estimate from their results they produced and sold at about 40% of their 100% maximum potential.
So apparently they ramped up another 20% from qtr 1 in production and sales of crude corn oil.
I see 7,392,000 gallons per qtr possible from 672 mmgy with 4.4% extraction. They extracted and sold? Says they produced 2,792,207 gallons corn oil in qtr 2 which I estimate at just under 40% of their max potential.

Slashnuts said...

GPRE Corn Oil Revenues Surge 143.4% In 3 Months!

Corn Oil Gets It's Own Segment! Cool!

"Corn Oil Production Segment

In the second quarter of 2011, we redefined our operating segments to include corn oil production as a reportable segment. Corn oil production, which we initiated in October 2010, was previously reported as a component of our marketing and distribution segment. By June 30, 2011, we had deployed corn oil extraction technology at eight of our nine ethanol plants with plans to implement the technology at our recently-acquired Otter Tail plant by the end of third quarter of 2011. During the three months ended June 30, 2011, we produced 21.5 million pounds of corn oil which is double the amount reported for the first quarter of 2011, or 10.1 million pounds."

Pounds of oil extracted were 7.5% higher than the 20 million expected.

Corn oil revenues increased 143.4% over last quarter.

Corn oil production revenues
$10,520,000

Gallons produced from 21,500,000 pounds, 2,803,129 (Using 7.67#'s per gallon).

Price per gallon of inedible crude corn oil $3.75

Greenshift's 20% royalty per gallon $.75

Greenshift's cut for the quarter $2,104,000

Mr. Becker commented last quarter that their was some confusion about crude corn oil prices. He said the $.615 cent price is for edible food grade crude corn oil.

The oil that's extracted under GERS' license is inedible non food grade crude corn oil that trades at a discount(about 15%) to soy oil.

At only 3% extraction rates, 2.6 billion gallons @ $.75 per gallon is over $14 million per quarter not including equipment sales or services. At 4.4% extraction, that's $21.5 million per quarter, not including equipment/construction revenues.

How much debt is left to Y/A? Less than $20 million?

"We expect our profitability to improve sequentially over the next two quarters, as ethanol margins have expanded over the last 90 days. We have been able to lock away significant portions of our ethanol margins, all corn oil production will be online and the market remains strong for each of these products. Our agribusiness segment should have a solid finish in 2011 as crops around our facilities are currently in good shape," commented Becker.

Nice, Good To Hear!

 
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