ENVIVA PARTNERS Reports Second Quarter FY2023 Earnings Results on August 3, 2023
August 28, 2023
🌥️Earnings Overview
ENVIVA PARTNERS ($NYSE:EVA) reported their financial results for the second quarter of FY2023 (ending June 30 2023) on August 3 2023, with total revenue reaching USD 301.9 million, a 1.9% increase from the same period in the prior year. Unfortunately, net income for the quarter was USD -55.8 million, compared to the loss of -27.3 million in the same quarter of the previous year.
Stock Price
The stock opened at $13.1 and closed at $13.1; a 1.7% increase from the prior closing price of $12.9. Going forward, ENVIVA expects to continue increasing sales in both its wood pellet and renewable energy businesses. Overall, the second quarter results reflect ENVIVA’s continued commitment to creating value for its shareholders and customers. The company is well positioned to capitalize on growth opportunities in the renewable energy space and is well on its way to achieving its financial and strategic objectives for FY2023. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Enviva Partners. More…
| Total Revenues | Net Income | Net Margin |
| 1.14k | -271.88 | -22.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Enviva Partners. More…
| Operations | Investing | Financing |
| 9.9 | -257.31 | 354.58 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Enviva Partners. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.55k | 2.21k | 5.19 |
Key Ratios Snapshot
Some of the financial key ratios for Enviva Partners are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.9% | 8.3% | -11.1% |
| FCF Margin | ROE | ROA |
| -21.8% | -27.9% | -3.1% |
Analysis
At GoodWhale, we have conducted an analysis of ENVIVA PARTNERS‘ overall wellbeing. Our Risk Rating has identified the company as a medium risk investment when considering both the financial and business aspects. For our registered users, we have detected three risk warnings in the income statement, balance sheet and financial journal. If you are interested in learning more about these potential risks, please take a look at our website for more information. More…
Peers
Its competitors are West Fraser Timber Co. Ltd, Charbone Hydrogen Corp, and National Plywood Industries Ltd.
– West Fraser Timber Co.Ltd ($TSX:WFG)
With a market cap of 9.1B as of 2022, West Fraser Timber Co.Ltd is a large company with a lot of capital. Its return on equity of 25.41% shows that it is a profitable company that reinvests its earnings back into the business. The company is a leading forest products company that produces lumber, wood chips, and other forest products.
– Charbone Hydrogen Corp ($TSXV:CH)
Charbone Hydrogen Corp is a hydrogen fuel company with a market cap of 8.98M as of 2022. The company has a Return on Equity of 84.65%. The company produces hydrogen fuel for use in transportation, industry, and power generation. The company has a strong focus on research and development in order to improve the efficiency and safety of its products.
– National Plywood Industries Ltd ($BSE:516062)
National Plywood Industries Ltd is a leading manufacturer of plywood and allied products in India. The company has a market cap of 246.18M as of 2022. It manufactures a wide range of plywood and allied products, including blockboards, flush doors, laminated boards, and veneers. The company has a strong presence in the Indian market with a wide network of dealers and distributors. It exports its products to more than 50 countries across the globe.
Summary
Enviva Partners reported their Q2 FY2023 earnings results on August 3, 2023, showing total revenue of USD 301.9 million, a slight 1.9% year-over-year increase. Net income was USD -55.8 million, an increase from the same period last year, of -27.3 million. For investors, this indicates an overall decrease in profitability for the quarter.
While revenue growth was minimal, expenses increased significantly, resulting in a net loss. Going forward, investors should evaluate Enviva’s ability to improve margins and cash flow in order to generate better returns on their investment.
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