Our comments today will contain forward-looking statements, which are any statements made that are not historical facts. These forward-looking statements are based on the current expectations of Green Plains’ management team and there can be no assurance that such expectations will prove to be correct. Because forward-looking statements involve risks and uncertainties, Green Plains’ actual results could differ materially from management’s expectations.
Please refer to page two of our website presentation, and our 10-K and other periodic SEC filings for information about factors that could cause different outcomes. The information presented today is time sensitive and is accurate only at this time. If any portion of this presentation is rebroadcast, retransmitted or redistributed at a later date, Green Plains will not be reviewing or updating this material.
Now, I would like to turn the call over to Todd Becker.
Todd BeckerThanks Jim and thanks for everybody joining our call this morning. In a short period of time we have built a large diversified enterprise. Our success includes generating 11 consecutive quarters of profitability and we owe this accomplishment to the execution of our strategy, the risk management, operational excellence in running our facilities in a safe manner. These are the fundamental reasons we continue to produce the results that we do. Over the last three years we have generated in total over $345 million in EBITDA and have grown our company from 330 million gallons of productions at the start of 2009 to 740 million gallons of capacity by the end of 2011. One of the benefits of this performance is a stronger balance sheet with cash reserve at lower debt levels per gallon, which gives our stake holders comfort and our ability to sustain ourselves during times of margin compression. Jerry will talk later in the call specifically on our balance sheet but we ended the year with an average of $0.60 per gallon of debt or plant related subsidiary debt compared to just over three years ago, when we built our plants with nearly $1 per gallon worth of debt. Our financial results for 2011 were strong from an EBITDA standpoint the company generated nearly $150 million for the year. We had a significant contribution from non-ethanol operating income again this quarter accounting for 48% or $19.1 million of our total segment operating profit. This was a result of our efforts that we have outlined for you as we have focused on building other income strains.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV