2017 Annual Meeting Fiscal year 2016 in review
|
|
- Phoebe Reeves
- 6 years ago
- Views:
Transcription
1 2017 Annual Meeting Fiscal year 2016 in review
2 FORWARD-LOOKING STATEMENTS AND DISCLAIMER This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of Such statements are made in good faith by Southwest Iowa Renewable Energy, LLC ( SIRE, us or we ) and are identified by including terms such as may, will, should, expects, anticipates, estimates, plans, or similar language. In connection with these safe-harbor provisions, SIRE has identified in its annual report on Form 10-K, and in its other filings with the SEC, important factors that could cause actual results to differ materially from those contained in any forwardlooking statement made by or on behalf of SIRE, including, without limitation, the risk and nature of our business and the effects of general economic conditions on us. We may experience significant fluctuations in future operating results due to a number of economic conditions, including, but not limited to, competition in the ethanol industry, commodity market risks, financial market risks, counter-party risks, and risks associated with changes to federal policy or regulation. The cautionary statements and risk factors in this disclaimer and our Form 10-K expressly qualify all of SIRE s forward-looking statements in this presentation. The forward-looking statements contained in this presentation are included in the safe harbor protection provided by Section 27A of the Securities Act of SIRE further cautions that such factors are not exhaustive or exclusive. SIRE does not undertake to update any forward-looking statement which may be made from time to time by or on behalf of SIRE unless an update is required by applicable securities laws.
3 Focus for 2016 Return to Shareholders Operate Safely Operate Profitably Diversification Manage Risk Low Cost Ethanol Producer Energy Precondensor Yield Precondensor and an additional Fermentor Plan for 2016 thru 2020
4 Total Days Without a Lost Time Day Accident 2663 Days
5 $60.00 Net Income In Millions $ $50.00 $48.61 $40.00 $30.00 $20.00 $10.00 $13.76 $5.09 $5.63 $- FYE 9/30/14 FYE 9/30/15 FYE 9/30/16 QE 12/31/16
6 EBITDA In Millions $ $80.00 $70.00 $66.79 $60.00 $50.00 $40.00 $30.00 $20.00 $10.00 $27.29 $18.27 $8.92 $- FYE 9/30/14 FYE 9/30/15 FYE 9/30/16 QE 12/31/16
7 Ethanol Production In Millions of Gallons FYE 9/30/14 FYE 9/30/15 FYE 9/30/16 QE 12/31/16
8 $ $ $ $80.00 $60.00 $ Bank and Subdebt In Millions $ $56.71 Subdebt Bank Debt $40.00 $20.00 $30.89 $27.36 $16.50 $- 9/30/13 9/30/14 9/30/15 9/30/16 12/31/16
9 Costs In Dollars per gallon $0.70 Depreciation Interest $0.60 Operations $0.50 $0.40 $0.30 $0.20 $0.10 $- 9/30/13 9/30/14 9/30/15 9/30/16 12/31/16
10 Book Value per Share Per Unit $9,000 $8,000 $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $8,157 $7,570 $7,602 $7,734 $3,165 9/30/13 9/30/14 9/30/15 9/30/16 12/31/16
11 TRADES Number of Shares Price Per Share 11/9/ $5,200 11/3/ $5,200 11/3/ $5,200 10/11/ $5,200 10/3/ $5,200 9/26/ $5,200 9/22/ $5,200 7/5/ $5,400 5/6/ $5,400 4/4/ $5,400 2/16/ $5,600
12 OUR NEW GUARD SHACK
13 OUR NEW FERMENTER
14 Fiscal Year 2016 SIRE bought 42.9MM bushels of corn Cost of corn bought - $156.0MM ($3.64 / bu) SIRE sold 122.0MM gallons of ethanol SIRE sold 353,285 tons of DG
15 $4.30 $4.10 $3.90 $3.70 $3.50 $3.30 $3.10 $2.90 $2.70 $2.50 Flat Price Corn $- $(0.10) $(0.20) $(0.30) $(0.40) $(0.50) $(0.60) Spot Corn Basis
16 DDG Price & Relationship to Corn $ $ $ $ $ $90.00 $70.00 $ % 170% 150% 130% 110% 90% 70% 50% Spot DDG Value to Corn
17 $1.90 $1.70 $1.50 $1.30 $1.10 $0.90 $0.70 $0.50 $0.30 $0.10 SIRE Margin & FOB Ethanol Values SIRE Margins FOB Ethanol Values
18 $9.00 $8.00 $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0.00 Corn, Oil & Ethanol Prices Corn/bu Crude Oil/gal SIRE Ethanol/gal
19 Financial Summary January 2017
20 Operational Information FYE 9/30/14 FYE 9/30/15 FYE 9/30/16 QE 12/31/16 Gallons Sold (millions) Average Price/Gallon $2.07 $1.53 $1.42 $1.45 Bushels Ground (millions) Net Cost of Corn Ground $189.4 $155.6 $151.3 $33.3 Yield (Ethanol/Bushel)
21 Financial Highlights (millions, except per gallon) FYE 9/30/14 FYE 9/30/15 FYE 9/30/16 QE 12/31/16 Revenue $319.4 $242.1 $223.3 $52.1 Cost of Corn $189.4 $155.6 $151.3 $33.3 Crush Margin / Gallon $1.13 $0.71 $0.56 $0.74 EBITDA $66.8 $27.3 $18.3 $8.9 Net Income $48.6 $13.8 $5.1 $5.6
22 Financial Highlights (millions ) FYE 9/30/14 FYE 9/30/15 FYE 9/30/16 QE 12/31/16 Bank Debt $30.0 $30.9 $27.4 $16.5 Bank Debt/Gallon Bank Debt- Repayment Subdebt Payments Interest Payments $0.24 $0.25 $0.22 $0.14 $38.8 $(0.9) $3.5 $10.9 $22.7 $26.7 N/A N/A $4.4 $1.9 $1.3 $0.3
23 Financial Highlights Calendar 12/31/14 (millions ) Calendar 12/31/15 Calendar 12/31/16 2/1/17 Cumulative To Date Distributions N/A $13.3 $3.3 $4.5 $22.2 Taxable Income (Loss) Tax Loss Carryforward Tax Benefit of Tax Loss 35% Tax Benefit of Tax Loss Carryforward per Unit $59.2 $9.9 $18.2 N/A ($45.9) $74.0 $64.1 $45.9 N/A N/A $25.9 $22.4 $16.1 N/A N/A $3,499 $1,945 $1,683 $1,206 N/A
24 $25.00 $20.00 $15.00 $10.00 Quarterly Crush Margin In Millions $ $22.2 $16.6 $16.0 $13.0 $16.3 $22.7 $21.2 $5.00 $- 6/30/15 9/30/15 12/31/15 3/31/16 6/30/16 9/30/16 12/31/16
25 Liquidity In Millions $ 40 $ $31.1 $32.1 $ /30/14 9/30/15 9/30/16 12/31/16
26 Ethanol Yield (gallons/bushel) FYE 9/30/14 FYE 9/30/15 FYE 9/30/16 QE 12/31/16
27 DDG Equivalent Production In Tons (000 s) FYE 9/30/14 FYE 9/30/15 FYE 9/30/16 QE 12/31/16
28 Corn Oil Production In millions of pounds Thousands FYE 9/30/14 FYE 9/30/15 FYE 9/30/16 QE 12/31/16 8.0
29 SIRE MECHANDISING TEAM Kristan Barta, Commercial Manager Morgan Sladek, Commercial Trainee Dustin Ploeger, Senior Merchandiser
30 2017 CORN REVIEW Acres Yield Usage Stocks Local Markets
31 Planted Acres (millions)
32 Yield (bushels per acre)
33 18,000 Total Supply (millions) 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0
34 8,000 Total Usage (millions) 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 Food, Alcohol & Industrial Feed & Residual Exports
35 45% Corn Acres to Ethanol Production 40% 35% 30% 25% 20% 15% 10% 5% 0%
36 $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 Stocks to Use and Corn Price Stock/Use (%), 15.9% Avg Farm Price ($/Bu), $ % 20% 15% 10% 5% 0% STOCKS TO USE Assumes billion bushels production / billion usage Carryout of 2.32 billion bushels
37 SIRE CORN Million Bushels to Buy Flat Price, Deferred pricing, Basis contracts, HTA s, Alliance Advantage, On Farm Pick-Up. Enogen / EGQS Program Competitive market for our local producers while buying the best net back for SIRE.
38 SIRE CORN 2017 Expecting largely uneventful basis moves but seasonal Selling outside of Harvest has been slow and predictable Watch for quick-ship opportunities based on logistics Local markets are anticipating producers carrying length into the summer months (similar to last year)
39 SIRE STRENGTHS Our greatest strength in corn merchandising comes from our shareholder base we value your business!!!
40 SIRE CO-PRODUCTS 2016 Calendar Year Sales -209,968 tons DDG s by truck -57,386 tons DDG s by rail -128,931 tons Wet Feed -16,776 tons Corn Oil LOCAL BUSINESSES DEPEND ON OUR CO-PRODUCTS
41 Focus for 2017 Operate Safely Operate Profitably Manage Risk Plan for 2017 thru 2020 Questions? Operate Plant at High Volume When Margins Allow Continue Retiring Debt Quickly
42 THANK YOU!
2018 Annual Meeting Fiscal Year 2017 In Review
2018 Annual Meeting Fiscal Year 2017 In Review FORWARD-LOOKING STATEMENTS AND DISCLAIMER This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation
More information2018 Fiscal Year Annual Meeting
SOUTHWEST IO 2018 Fiscal Year Annual Meeting Friday, February 15, 2019 Southwest Treynor Community Center Treynor, IA FORWARD-LOOKING STATEMENTS AND DISCLAIMER This presentation contains certain forward-looking
More informationAdvance Trading, Inc. Supply/Demand Summary
Corn Advance Trading, Inc. Supply/Demand Summary Planted Acres 88.0 94.0 90.2 90.2 0.0 89.1 89.1 0.0 % Harvested 91.8% 92.2% 91.7% 91.7% 91.8% 91.8% Harvested Acres 80.8 86.7 82.7 82.7 0.0 81.8 81.8 0.0
More informationDecember 6-7, Steven D. Johnson. Farm & Ag Business Management Specialist
December 6-7, 2018 Steven D. Johnson Farm & Ag Business Management Specialist (515) 957-5790 sdjohns@iastate.edu www.extension.iastate.edu/polk/farm-management 1 Learning Objectives Highlight Current Corn
More informationThe Andersons, Inc. Second Quarter Conference Call We are well-positioned to capitalize on macro trends such as
We are well-positioned to capitalize on macro trends such as» Expanding world population» Escalating global demand for protein» Increasing North American crop production which continues to drive strong
More informationThe Andersons, Inc. Third Quarter Conference Call We are well-positioned to capitalize on macro trends such as
We are well-positioned to capitalize on macro trends such as» Expanding world population» Escalating global demand for protein» Increasing North American crop production which continues to drive strong
More informationManaging Margins in 2017
Managing Margins in 2017 12 th Farming for the Future Conference Coalition to Support Iowa s Farmers Ames, Iowa Jan. 19, 2017 Alejandro Plastina Assistant Professor plastina@iastate.edu 515-294-6160 Chad
More informationTurner s Take WASDE Expectations vs. Sept WASDE report:
Published by: Craig Turner 11/4/2013 4:02:09 PM In this issue 1) CORN: USDA Friday exected to be bearish. Looking to short Corn ahead of WASDE 2) SOYBEANS: Short Bean Ideas with Long Call Protection 3)
More informationSecond Quarter Earnings Call. August 8, 2018
Second Quarter Earnings Call August 8, 2018 1 Safe Harbor and Non-GAAP Financial Measures Certain information discussed today constitutes forward-looking statements. Actual results could differ materially
More informationFourth Quarter and Full Year Earnings Call. February 14, 2019
Fourth Quarter and Full Year Earnings Call February 4, 209 Safe Harbor and Non-GAAP Financial Measures Certain information discussed today constitutes forward-looking statements. Actual results could differ
More informationStoring Unpriced Grain: Strategies & Tools
Storing Unpriced Grain: Strategies & Tools December 2013 Steven D. Johnson Farm & Ag Business Management Specialist (515) 957-5790 sdjohns@iastate.edu www.extension.iastate.edu/polk/farm-management Crop
More informationSecond Quarter 2018 Business Update. August 1, 2018
Second Quarter 2018 Business Update August 1, 2018 Forward-Looking Statements This presentation includes forward-looking statements that reflect management s current views of company performance, industry
More information2015 Third Quarter Earnings Call. November 5, 2015
2015 Third Quarter Earnings Call November 5, 2015 20 5 The Andersons, Inc. Forward Looking Statements Certain information discussed today constitutes forward-looking statements. Actual results could differ
More informationPacific Ethanol Reports First Quarter 2018 Results
May 8, 2018 Pacific Ethanol Reports First Quarter 2018 Results SACRAMENTO, Calif., May 08, 2018 (GLOBE NEWSWIRE) -- Pacific Ethanol, Inc. (NASDAQ:PEIX), a leading producer and marketer of low-carbon renewable
More informationBMO Farm to Market Conference. May 18, 2017
BMO Farm to Market Conference May 18, 2017 Todd Becker President & Chief Executive Officer Green Plains Inc. NASDAQ: GPRE www.gpreinc.com Green Plains Partners LP NASDAQ: GPP www.greenplainspartners.com
More informationCondensed Financial Statements
UNITED WISCONSIN GRAIN PRODUCERS LLC Condensed Financial Statements FRIESLAND, WISCONSIN 3/31/2016 UNITED WISCONSIN GRAIN PRODUCERS LLC Contents Condensed Financial Statements Page Condensed Balance Sheets
More informationThird Quarter Earnings Call. November 8, 2016
Third Quarter Earnings Call November 8, 2016 Forward Looking Statements & Non-GAAP Measures Certain information discussed today constitutes forward-looking statements. Actual results could differ materially
More informationFirst Quarter 2018 Business Update. May 7, 2018
First Quarter 2018 Business Update May 7, 2018 Forward-Looking Statements This presentation includes forward-looking statements that reflect management s current views of company performance, industry
More informationJefferies 2014 Global Industrials Conference. August 11, 2014
Jefferies 2014 Global Industrials Conference August 11, 2014 Disclaimer Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements
More informationHERON LAKE BIOENERGY, LLC
HERON LAKE BIOENERGY, LLC FORM 8-K (Current report filing) Filed 01/22/10 for the Period Ending 01/20/10 Address 91246 390TH AVENUE HERON LAKE, MN 56137-1375 Telephone 507-793-0077 CIK 0001286964 SIC Code
More informationFall 2017 Crop Outlook Webinar
Fall 2017 Crop Outlook Webinar Chris Hurt, Professor & Extension Ag. Economist James Mintert, Professor & Director, Center for Commercial Agriculture Fall 2017 Crop Outlook Webinar October 13, 2017 50%
More information2017 MLPA Investor Conference. May 31, 2017
2017 MLPA Investor Conference May 31, 2017 Jerry Peters Chief Financial Officer Green Plains Inc. NASDAQ: GPRE www.gpreinc.com Green Plains Partners LP NASDAQ: GPP www.greenplainspartners.com Forward-Looking
More informationBUSINESS AND MARKETING TOOLS FOR PROFITABLE FARMING. Summer Crossroads: Volatility and Opportunity. Bryce Knorr Farm Futures Magazine
Summer Crossroads: Volatility and Opportunity Bryce Knorr Farm Futures Magazine Don t Bury The Lead Why were soybeans up more than 50 cents despite higher acres? 2014 crop likely smaller Acreage up in
More informationMarketing Strategies for Robert Anwender Grain Merchandiser
Marketing Strategies for 2015 Robert Anwender Grain Merchandiser Marketing Tips for 2015 and Forward! Build a Knowledge Base: Stay in tune with market fundamentals Understand how a volatile dollar affects
More informationThird Quarter Fiscal 2017 Conference Call. May 2, 2017
Third Quarter Fiscal 2017 Conference Call May 2, 2017 Safe Harbor Statement Statements contained in this presentation that are not based on historical facts are "forward-looking statements" within the
More informationChapter 4 Assessing the Financial Performance and Returns of Ethanol Production: A Case Study Analysis Paul N. Ellinger 5
Chapter 4 Assessing the Financial Performance and Returns of Ethanol Production: A Case Study Analysis Paul N. Ellinger 5 This primary objective of this case study is to illustrate the factors that impact
More informationNew Generation Grain Contracts
New Generation Grain Contracts Econ 338c April 19, 2007 Steven D. Johnson Farm Management Field Specialist Presentation Objectives Highlight 7 Megatrends in the Grain Industry Identify Producer Challenges
More information2015 Full Year and Fourth Quarter Earnings Call. February 11, 2016
2015 Full Year and Fourth Quarter Earnings Call February 11, 2016 Forward Looking Statements & Non GAAP Measures Certain information discussed today constitutes forward-looking statements. Actual results
More informationINVESTOR PRESENTATION MAY 2016
INVESTOR PRESENTATION MAY 2016 Forward Looking Statements Some of the information included herein may contain forward-looking statements within the meaning of the federal securities laws. Forwardlooking
More information2012 Fourth Quarter Financial Results
2012 Fourth Quarter Financial Results February 20, 2013 NYSE: CF Safe Harbor Statement All statements in this communication, other than those relating to historical facts, are forward-looking statements.
More informationCrop Risk Management
Crop Risk Management January 28 th, 2010 Steven D. Johnson Farm & Ag Business Management Specialist (515) 957 5790 sdjohns@iastate.edu www.extension.iastate.edu/polk/farmmanagement.htm Source: Johnson,
More informationBaird 2017 Global Industrial Conference. November 7, 2017
Baird 2017 Global Industrial Conference November 7, 2017 Todd Becker President & Chief Executive Officer Forward-Looking Statements This presentation includes forward-looking statements that reflect management
More informationCrops Marketing and Management Update
Crops Marketing and Management Update Grains and Forage Center of Excellence Dr. Todd D. Davis Assistant Extension Professor Department of Agricultural Economics Vol. 2018 (3) March 11, 2018 Topics in
More informationFinancial Statement August 31, 2014 and 2013 Redfield Energy, LLC
Financial Statement August 31, 2014 and 2013 Redfield Energy, LLC www.eidebailly.com Financial Statements August 31, 2014 Page No. Balance Sheet s 1-2 Statements of Operations 3 Statements of Changes in
More informationFourth Quarter 2014 Earnings Conference Call. 26 November 2014
Fourth Quarter 2014 Earnings Conference Call 26 November 2014 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning
More informationArkalon Ethanol, LLC. For the month ending 03/31/13 ASSETS. Current Assets Cash & Equivalents $18,676, $20,972, $34,682,730.
Arkalon Ethanol, LLC For the month ending 03/31/13 Current 12/31/12 Prior Year ASSETS Current Assets Cash & Equivalents $18,676,687.57 $20,972,143.03 $34,682,730.33 Accounts Receivable - Trade 8,295,922.04
More informationCautionary Information
September 6, Cowen & Company 10 th Annual Global Transportation Conference Rob Knight CFO 1 Cautionary Information This presentation and related materials contain statements about the Company s future
More informationCrops Marketing and Management Update
Crops Marketing and Management Update Grains and Forage Center of Excellence Dr. Todd D. Davis Assistant Extension Professor Department of Agricultural Economics Vol. 2018 (2) February 14, 2018 Topics
More informationCardinal Ethanol, LLC Annual Meeting. February 14, 2017
Cardinal Ethanol, LLC Annual Meeting February 14, 2017 Why Ethanol Is Important http://ethanolrfa.org/consumers/why-is-ethanol-important/ Welcome & Call to Order Mr. Rob Davis Chairman of the Board Disclaimer
More informationUK Grain Marketing Series January 19, Todd D. Davis Assistant Extension Professor. Economics
Introduction to Basis, Cash Forward Contracts, HTA Contracts and Basis Contracts UK Grain Marketing Series January 19, 2016 Todd D. Davis Assistant Extension Professor Outline What is basis and how can
More information3nd Quarter 2017 Earnings Webcast
3nd Quarter 2017 Earnings Webcast November 15, 2017 DISCLAIMER This press release contains forward-looking statements that are based on our current expectations, assumptions, estimates and projections
More informationBasis: The price difference between the cash price at a specific location and the price of a specific futures contract.
Section I Chapter 8: Basis Learning objectives The relationship between cash and futures prices Basis patterns Basis in different regions Speculators trade price, hedgers trade basis Key terms Basis: The
More informationSecond Quarter 2016 Results
July 21, 2016 Second Quarter 2016 Earnings Release Lance Fritz Chairman, President & CEO 1 Second Quarter 2016 Results Earnings Per Share Second Quarter $1.43 $1.38 Earnings Per Share -15% Down 15% $1.17
More informationTHE HIGHTOWER REPORT
Futures Analysis & Forecasting HightowerReport.com March 21, 214 Strategies for March 31st Report: Non-standard Options New, non-standard options at the CME can be great tools for commodity traders, especially
More informationBMO Farm to Market Conference
BMO Farm to Market Conference May 21, 2015 ANDE is well-positioned to capitalize on macro trends: World population Middle class Demand for protein Leveraging deep operational experience to: Be a Partner
More informationCommodity Programs in 2014 Farm Bill. Key Provisions
Commodity Programs in 2014 Farm Bill Gary Schnitkey, Jonathan Coppess, Nick Paulson, and Carl Zulauf University of Illinois The Ohio State University (February 13, 2014) 1 Key Provisions Eliminates direct,
More information4Q 2017 Earnings Call. 22 November 2017
4Q 2017 Earnings Call 22 November 2017 1 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the company s plans
More informationMarket Outlook for Corn, Wheat, and Soybeans
Market Outlook for Corn, Wheat, and Soybeans Identifying Risks - Protecting Profits Can you go wrong with $5 Corn, $12 Beans and $8 Wheat? Progressive Farmer Meeting St. Johns, Michigan Jim Hilker Agriculture,
More informationBONANZA BIOENERGY, LLC Garden City, Kansas
FINANCIAL STATEMENTS Years Ended with Independent Auditors' Report CONTENTS Page INDEPENDENT AUDITORS' REPORT... 1 FINANCIAL STATEMENTS Exhibit A BALANCE SHEETS... 2 Exhibit B STATEMENTS OF OPERATIONS...
More informationThird Quarter 2018 Earnings Conference Call
Third Quarter 2018 Earnings Conference Call NYSE: CVA Cautionary Statements All information included in this earnings presentation is based on continuing operations, unless otherwise noted. Forward-Looking
More informationFinancial Statements August 31, 2016 and 2015 Redfield Energy, LLC
Financial Statements August 31, 2016 and 2015 Redfield Energy, LLC www.eidebailly.com Financial Statements August 31, 2016 Page No. Balance Sheets 2-3 Statements of Operations 4 Statements of Changes in
More informationFourth Quarter 2016 Earnings Conference Call. 23 November 2016
Fourth Quarter 2016 Earnings Conference Call 23 November 2016 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning
More information11 TH ANNUAL MEMBERSHIP MEETING MARCH 23, 2017
11 TH ANNUAL MEMBERSHIP MEETING MARCH 23, 2017 CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION This presentation contains financial information for the first quarter of the fiscal year ending
More informationARKALON ETHANOL, LLC Liberal, Kansas
ARKALON ETHANOL, LLC Liberal, Kansas FINANCIAL STATEMENTS Years Ended December 31, 2013 and 2012 with Independent Auditors' Report ARKALON ETHANOL, LLC Liberal, Kansas CONTENTS Page INDEPENDENT AUDITORS'
More informationCautionary Information
February 13, 2018 Stifel Nicolaus Transportation & Logistics Conference Rob Knight CFO 1 Cautionary Information This presentation and related materials contain statements about the Company s future that
More information2Q 2018 Earnings Call. 18 May 2018
2Q 2018 Earnings Call 18 May 2018 1 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the company s plans and projections
More information3. FORWARD-LOOKING INFORMATION
TABLE OF CONTENTS 1. BUSINESS PROFILE 1 2. STRATEGY 1 3. FORWARD-LOOKING INFORMATION 2 4. ADDITIONAL INFORMATION 2 5. FINANCIAL HIGHLIGHTS 3 6. OPERATING RESULTS 3 7. LINES OF BUSINESS 5 8. PERFORMANCE
More informationBONANZA BIOENERGY, LLC Garden City, Kansas
FINANCIAL STATEMENTS Years Ended with Independent Auditors' Report CONTENTS Page INDEPENDENT AUDITORS' REPORT... 1 FINANCIAL STATEMENTS Exhibit A BALANCE SHEETS... 2 Exhibit B STATEMENTS OF OPERATIONS...
More informationQuarterly Investor Update Fourth Quarter and Fiscal Year End Fourth Quarter & Fiscal Year End 2018 NASDAQ: CASH
Quarterly Investor Update Fourth Quarter and Fiscal Year End 2018 Forward Looking Statements Meta Financial Group, Inc. (the Company ) and its wholly-owned subsidiary, MetaBank (the Bank ), may from time
More informationFinancial Statements August 31, 2018 and 2017 Redfield Energy, LLC
Financial Statements August 31, 2018 and 2017 Redfield Energy, LLC eidebailly.com Financial Statements August 31, 2018 Page No. Balance Sheet s 2-3 Statements of Operations 4 Statements of Changes in Members
More informationInvestor Presentation: UBS MLP Conference January 2016
Investor Presentation: UBS MLP Conference January 2016 Safe Harbor Disclosure Statement Statements made during the course of this presentation that are not historical facts are forward looking statements
More information3Q 2018 Earnings Call. 17 August 2018
3Q 2018 Earnings Call 17 August 2018 1 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the company s plans and
More informationINVESTOR PRESENTATION NOVEMBER 2015
INVESTOR PRESENTATION NOVEMBER 2015 Forward Looking Statements Some of the information included herein may contain forward-looking statements within the meaning of the federal securities laws. Forwardlooking
More informationCorporate Presentation September 2017
Corporate Presentation September 2017 Disclaimers General Advisory The information contained in this presentation does not purport to be all-inclusive or contain all information that readers may require.
More informationPurdue Outlook Update 2011
Percent Purdue Outlook Update 211 211 Indiana Agricultural Outlook Corinne Alexander & Chris Hurt hurtc@purdue.edu Ethanol World Economic Growth Dollar Value Surprises and Uncertainty! Change Wheat Production
More informationCattle: Dollar: Energies:
j 3/11/2015 CONTACTS: Chuck Shelby O: (866) 837-9027 C: (765) 426-7535 Bryan Shelby O: (866) 837-9027 Bill Gentry O: (877) 433-4348 or O: (866) 837-9027 C: (219) 863-0055 Sherman Newlin O: (866) 314-5765
More informationFourth Quarter 2012 Earnings Release
Fourth Quarter Earnings Release January 24, 2013 Jack Koraleski, CEO 1 Union Pacific Achieves Milestones Positives Fourth Quarter and Full Year Financial Results Employee Safety Customer Satisfaction Franchise
More informationSoybeans face make or break moment Futures need a two-fer to avoid losses By Bryce Knorr, senior grain market analyst
Soybeans face make or break moment Futures need a two-fer to avoid losses By Bryce Knorr, senior grain market analyst A year ago USDA shocked the market by cutting its forecast of soybean production, helping
More informationTransMontaigne Partners L.P. (NYSE TLP) Wells Fargo th Annual Energy Symposium December 10 th, 2013
TransMontaigne Partners L.P. (NYSE TLP) Wells Fargo 2013 12 th Annual Energy Symposium December 10 th, 2013 Forward Looking Statements All statements, other than statements of historical facts, contained
More informationSecond Quarter 2011 Earnings Conference Call. 18 May 2011
Second Quarter 2011 Earnings Conference Call 18 May 2011 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the
More informationThe New DryShips DryShips Inc.
The New DryShips DryShips Inc. NASDAQ: DRYS Investor Presentation Capital Link Conference March 12, 2018 Disclaimer About this Presentation This presentation (this Presentation ) has been prepared by DryShips
More informationJ.P. Morgan Aviation, Transportation & Industrials Conference
J.P. Morgan Aviation, Transportation & Industrials Conference March 14, ALAN H. SHAW Executive Vice President and Chief Marketing Officer 1 Forward-Looking Statements Certain statements in this presentation
More informationBasis for Grains. Why is basis predictable?
Basis for Grains Why is basis predictable? Average basis levels (expectations) are determined by transportation and storage costs associated with the commodity. Variations in basis levels (outcomes) are
More informationRESOLUTE FOREST PRODUCTS Q RESULTS YVES LAFLAMME, PRESIDENT & CEO JO-ANN LONGWORTH, SVP & CFO
RESOLUTE FOREST PRODUCTS Q1 2018 RESULTS YVES LAFLAMME, PRESIDENT & CEO JO-ANN LONGWORTH, SVP & CFO May 3, 2018 CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION Statements in this presentation
More informationMONTHLY MILK & FEED MARKET UPDATE
MONTHLY MILK & FEED MARKET UPDATE Provided By: Curtis Bosma - (312) 870-1185 - curtisb@highgroundtrading.com December 2014 A Sinking Ship? As the leaves began to fall, so did milk futures. Cheese sellers
More information1Q 2019 Earnings Call. 15 February 2019
1Q 2019 Earnings Call 15 February 2019 1 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the company s plans
More informationInvestor Relations. September 2018
Investor Relations 1 September 2018 Forward-Looking Statements The following presentation contains forward-looking statements which are protected as forward-looking statements under the PSLRA, and which
More information2016 BB&T Annual Transportation Services Conference
2016 BB&T Annual Transportation Services Conference February 10, 2016 Marta R. Stewart Executive Vice President Finance and Chief Financial Officer 1 Forward-Looking Statements Certain statements in this
More informationSEACOR Holdings Inc.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event
More informationJMP Securities 2017 Financial Services and Real Estate Conference June 2017
Fortress Transportation and Infrastructure Investors LLC JMP Securities 2017 Financial Services and Real Estate Conference June 2017 Disclaimers IN GENERAL. This disclaimer applies to this document and
More information2017 Third Quarter Earnings Conference Call. October 25, 2017
2017 Third Quarter Earnings Conference Call October 25, 2017 1 Forward-Looking Statements Certain statements in this presentation are forward-looking statements within the meaning of the safe harbor provision
More informationBMC STOCK HOLDINGS, INC. Second Quarter 2018 Earnings Presentation July 30, BMC. All Rights Reserved.
BMC STOCK HOLDINGS, INC. Second Quarter 2018 Earnings Presentation July 30, 2018 2018 BMC. All Rights Reserved. CLICK Disclaimer TO EDIT TITLE This presentation contains "forward-looking statements" within
More informationRisk Management & Profitability
Risk Management & Profitability The challenge to making money and being profitable in any industry is 2 fold First you have to maximize production and minimize cost. Second, you have to know how to manage
More informationEcon 338c. April 12, 2007
60 Econ 338c April 12, 2007 10 Traits of a Successful Grain Marketer Starts Early (before planting) Knows production, storage costs & risk bearing ability Understands basis & mkt. carry Follows several
More informationCautionary Information
November 29, 2017 Credit Suisse 5 th Annual Industrials Conference Rob Knight CFO 1 Cautionary Information This presentation and related materials contain statements about the Company s future that are
More informationGrain Marketing. Swenson Investments & Commodities
Trading futures and options involves substantial risk of loss and is not suitable for all investors or producers. Grain Marketing Swenson Investments & Commodities 608 N West Ave Sioux Falls, SD 57104
More informationInfluences on the Market. Common Marketing Terms. Types of Contracts. Terms of Contracts
Jackie Reichter DeBruce Grain, Nebraska City Grain Marketing Commodity od Exchanges/Futures Symbols Influences on the Market Common Marketing Terms Types of Contracts Terms of Contracts Commodity Exchanges
More informationFourth Quarter 2018 Earnings Presentation January 28, 2019
Fourth Quarter 2018 Earnings Presentation January 28, 2019 Safe Harbor Statement This document may contain forward-looking statements that reflects management s expectations for the future. The Private
More informationSoybeans face long road End to tariffs wouldn t help 2018 exports much By Bryce Knorr, senior grain market analyst
Soybeans face long road End to tariffs wouldn t help 2018 exports much By Bryce Knorr, senior grain market analyst Forecasting grain prices is relatively easy in normal times. Most models assume the future
More informationInvestor Relations. January 2019
Investor Relations 1 January 2019 Forward-Looking Statements The following presentation contains forward-looking statements which are protected as forward-looking statements under the PSLRA, and which
More informationJOHN AND MARY FARMER (Farm Business Only) BALANCE SHEET AS OF 12/31/X1 AND 12/31/X2
JOHN AND MARY FARMER (Farm Business Only) ASSETS 12/31/X2 12/31/X1 12/31/X2 12/31/X1 LIABILITIES Cash $ 101,743 $ 113,421 Accounts Payable $ 6,578 $ 0 Inventories (Schedule 1) 180,581 149,557 Notes Due
More informationFortress Transportation and Infrastructure Investors LLC
Fortress Transportation and Infrastructure Investors LLC JMP Securities Financial Services Conference June 19, 2018 Disclaimers IN GENERAL. This disclaimer applies to this document and the verbal or written
More informationBurlington Northern Santa Fe, LLC
Burlington Northern Santa Fe, LLC 2014 Fixed-Income Investor Call November 12, 2014 This presentation is intended to provide information to certain investors in Burlington Northern Santa Fe, LLC and BNSF
More informationInvestor Presentation: May 2016
Investor Presentation: May 2016 Safe Harbor Disclosure Statement Statements made during the course of this presentation that are not historical facts are forward looking statements within the meaning of
More informationManaging Feed and Milk Price Risk: Futures Markets and Insurance Alternatives
Managing Feed and Milk Price Risk: Futures Markets and Insurance Alternatives Dillon M. Feuz Department of Applied Economics Utah State University 3530 Old Main Hill Logan, UT 84322-3530 435-797-2296 dillon.feuz@usu.edu
More informationJerry Sheridan. October 17,
Jerry Sheridan October 17, 2012 1 History of AmeriGas Started in 1959 165 acquisitions since 1982 Cal Gas acquisition in 1987 Petrolane acquisition in 1993 IPO as an MLP in 1995 Columbia acquisition in
More informationINVESTOR PRESENTATION
INVESTOR PRESENTATION DISCLOSURE 2 Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation
More informationFortress Transportation and Infrastructure Investors LLC. Supplemental Information Third Quarter 2018
Fortress Transportation and Infrastructure Investors LLC Supplemental Information Third Quarter 2018 Disclaimers IN GENERAL. This disclaimer applies to this document and the verbal or written comments
More informationConsolidated Financial Statements August 31, 2014 and 2013 Glacial Lakes Corn Processors
Consolidated Financial Statements Glacial Lakes Corn Processors www.eidebailly.com Table of Contents Independent Auditor s Report... 1 Consolidated Financial Statements... 2 Consolidated Balance Sheets...
More informationRESOLUTE FOREST PRODUCTS Q RESULTS
RESOLUTE FOREST PRODUCTS Q2 2018 RESULTS AUGUST 2, 2018 CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION Statements in this presentation that are not reported financial results or other historical
More information