Green Plains Partners LP
greenplainspartners.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2023 10-Q, filed Oct 31, 2023. Its latest SEC filing is a SC 13G/A from Apr 4, 2024.
10-Q for Q2 FY2023, filed Oct 31, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Provides fuel storage, terminal and transportation services to ethanol producers, fuel marketers, and refiners and blenders.
10-K for FY2022, filed Feb 10, 2023Green Plains Partners is a fee-based Delaware master limited partnership formed by our parent, Green Plains, Inc. on March 2, 2015. On July…View ↗
Terminal and Distribution Services. We own and operate two fuel terminals in Alabama and Mississippi with combined total storage capacity…View ↗
Transportation and Delivery. Ethanol deliveries to distant markets are shipped using major U.S. rail carriers that can switch cars to other…View ↗
How Did They Make Money?
Green Plains Trade pays for storage and rail capacity under minimum-volume and take-or-pay agreements; those fees are earned over the lease terms. Terminal service fees are earned when fuel is withdrawn or over a terminal lease, while trucking fees track miles traveled; most service payments are due after the work is completed.
10-K for FY2022, filed Feb 10, 2023Under the rail transportation services agreement, Green Plains Trade is obligated to use the partnership to transport ethanol and other…View ↗
The partnership generates leasing revenue from its storage and throughput agreement with Green Plains Trade based on contractual rates…View ↗
The partnership provides terminal services and logistics solutions to Green Plains Trade, and other customers, through its fuel terminal…View ↗
At terminals where a customer is predominantly provided exclusive use of the terminal or tank storage assets, the partnership is considered…View ↗
The partnership transports ethanol, natural gasoline, and other refined fuels by truck from identified receipt points to various delivery…View ↗
The partnership has standard payment terms, which vary depending on the nature of the services provided, with the majority of terms falling…View ↗
-
10-K for FY2022, filed Feb 10, 2023
FY2022 revenue by product or service ↗
$79.8M
-
10-K for FY2022, filed Feb 11, 2023
$79.8M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Terminal services
Mix
10-K for FY2022, filed Feb 10, 2023 |
10% |
Terminal services, FY2022
$8.1M Sources
|
Mix |
|
Trucking and other
Usage-based
|
4.8% |
Trucking and other, FY2022
$3.8M Sources
|
Usage-based |
|
Storage and throughput services
Recurring
10-K for FY2022, filed Feb 10, 2023 |
58% |
Storage and throughput services, FY2022
$46.3M Sources
|
Recurring |
|
Rail transportation services
Recurring
10-K for FY2022, filed Feb 10, 2023 |
27% |
Rail transportation services, FY2022
$21.6M Sources
|
Recurring |
|
Terminal services
Recurring
|
0.0% |
Terminal services, FY2022
$0 Sources
|
Recurring |
Who Were Their Customers?
Green Plains Trade is the primary customer and buys under commercial agreements. Other customers use terminal services, and fuel from the terminals is shipped to refiners, blenders and other obligated and non-obligated parties.
10-K for FY2022, filed Feb 10, 2023A substantial portion of our revenues and cash flows are derived from our commercial agreements with Green Plains Trade, our primary…View ↗
Terminal and Distribution Services. We own and operate two fuel terminals in Alabama and Mississippi with combined total storage capacity…View ↗
The partnership provides terminal services and logistics solutions to Green Plains Trade, and other customers, through its fuel terminal…View ↗
10-K for FY2022, filed Feb 10, 2023
We are highly dependent on Green Plains Trade and anticipate deriving a substantial portion of our revenues from them in the foreseeable…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 51 cents of every revenue dollar as net income in FY2022 and turned 57 cents into free cash flow.
10-K for FY2022, filed Feb 11, 2023
$46MView ↗
10-K for FY2022, filed Feb 11, 2023
$40.7MView ↗
10-K for FY2022, filed Feb 11, 2023
$45.3MView ↗
How Were They Changing?
-
Jan 9, 2024
Green Plains completed the merger, and the partnership’s units were delisted
Public units were exchanged for Green Plains shares and cash, and Nasdaq trading was suspended.
Sources
8-K, filed Jan 9, 2024
On January 9, 2024, the parties to the Merger Agreement completed the Merger. Pursuant to the Merger Agreement, at the effective time of…View ↗
Shrank. Revenue fell 21% in 4 years, from $100.7M in FY2018 to $79.8M in FY2022, about 6% a year.
Loading...
