Benson Hill Inc Stock Price, News & Analysis

Benson Hill (NYSE: BHIL), a food tech company, announced that it will release its financial results for the first quarter ending March 31, 2023, before the market opens on Wednesday, May 10, 2023. This announcement includes an upcoming webcast at 8:30 a.m. Eastern Time, featuring management presentations and a Q&A session. Investors can access the webcast via Benson Hill’s investor relations website.

The company focuses on unlocking the natural genetic diversity of plants through its CropOS® platform, integrating data science and machine learning for sustainable food innovation.

Benson Hill (NYSE: BHIL) hosted its 2023 Investor Day, unveiling its strategic initiatives to meet demand for plant-based products. The company highlights its CropOS® technology platform, aiming for 40-50% proprietary revenue growth in 2023 and a doubling of gross profit. A significant partnership with ADM will launch a portfolio of soy products in Q2 2023. Benson Hill signed a non-binding term sheet for a $100 million debt facility, aiming for positive cash flow by 2025. Key pipeline advancements include new Ultra High Protein varieties and enhanced soybean breeding through collaboration with Corteva Agriscience.

Benson Hill, Inc. (NYSE: BHIL) reported a remarkable 319% revenue increase to $381 million for 2022, with proprietary revenues nearly doubling to $73 million. Gross profit stood at $3.5 million, impacted by a $4.9 million loss from mark-to-market timing differences. The company anticipates proprietary revenues to grow to $100-$110 million in 2023, driving gross profit to $20-$30 million. Despite a projected net loss of $125-$135 million in 2023 and further capital expenditures, management remains committed to achieving positive Adjusted EBITDA by 2025, supported by strategic investments in high-margin products.

Benson Hill (NYSE: BHIL) reported preliminary, unaudited 2022 financial results amidst strong demand for its proprietary soy products. Consolidated revenues are estimated between $379 and $383 million, with proprietary revenues reaching $71 to $73 million. The company anticipates a net loss from continuing operations of $(98) to $(102 million). For 2023, revenues are projected between $390 and $430 million, with proprietary revenues expected at $100 to $110 million. Management highlights ongoing growth in the soy portfolio despite higher operational costs impacting gross profit.