BETHESDA, Md.-- Enviva Inc. (NYSE: EVA) (“Enviva,” the “Company,” “we,” “us,” or “our”) today announced financial and operating results and declared a dividend for third-quarter 2022.
Highlights:
- Reported net loss of $18.3 million for third-quarter 2022 compared to net loss of $35.8 million for third-quarter 2021 and reported adjusted EBITDA for third-quarter 2022 of $60.6 million compared to $14.2 million for third-quarter 2021
- Declared dividend of $0.905 per share for third-quarter 2022, representing a 7.7% increase over third-quarter 2021 distribution
“For third-quarter 2022, Enviva delivered financial and operating results in line with the expectations we outlined on our last earnings call. We are also thankful that our people and assets navigated Hurricane Ian safely, with the financial impact limited to the deferral of around $3 million of adjusted EBITDA from third quarter to fourth quarter due to the modest ship loading delays we experienced as a result of the storm at quarter end,” said John Keppler, Chairman and Chief Executive Officer. “This solid foundation gives us additional confidence in the step-up we expect for the second half of 2022 and we believe we are well positioned to deliver full-year financial performance in line with our guidance. As demonstrated this quarter, we continue to benefit from a very constructive pricing environment for wood pellets both for the near term and for long-term contracted deliveries, achieving an adjusted gross margin per metric ton of $60 this quarter, with the continued expectation of further improvements for fourth-quarter 2022.”
Source: Enviva
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