Enviva Inc. Stock Price, News & Analysis

Enviva Inc. (NYSE: EVA) announced its conference call to discuss third-quarter 2022 financial results on November 3, 2022, at 10:00 a.m. Eastern Time. Stakeholders can participate by dialing (877) 883-0383 in the U.S. or +1 (412) 902-6506 internationally, entering Participant Entry Number 9243030, or via webcast at Enviva's Investor Relations page. Enviva is the largest producer of industrial wood pellets, with a total production capacity of approximately 6.2 million metric tons annually, and is constructing a new plant in Alabama.

Enviva Inc. (NYSE: EVA) has appointed Mark Coscio as Executive Vice President and Chief Development Officer, effective immediately. Coscio, bringing nearly two decades of experience in managing large-scale infrastructure projects, will lead corporate development and construction functions. The company is planning significant capacity expansions, aiming to double production by adding six new plants over the next five years, in response to an ongoing structural shortage in the wood pellet supply industry.

Enviva Inc. (NYSE: EVA), the leading producer of sustainably sourced wood biomass, has released a new white paper titled Biomass: Unlocking a Future Beyond Fossil Fuel. This document explores the potential of biomass to decarbonize industries such as steel, cement, and aviation fuel, which contribute to one-third of global CO2 emissions. The company emphasizes its role in supporting a clean energy transition, particularly after the recent passage of the Inflation Reduction Act, enhancing tax credits for renewable energy production. Enviva’s mission is to maintain U.S. forests while reducing greenhouse gas emissions.

Enviva Inc. reported minimal operational impact from Hurricane Ian, affirming employee safety. The company issued updated guidance for Q3 and Q4 2022, projecting a net loss range of $15M to $10M for Q3 and a net income range of $35M to $50M for Q4. Full-year 2022 net loss guidance was revised to $55M to $35M, while adjusted EBITDA is estimated between $240M and $260M. The dividend remains at $3.62 per share, reflecting a 10% increase over 2021. With improved pricing and cost management, Enviva anticipates strong cash flow growth despite potential recessionary pressures.

Enviva Inc. (NYSE: EVA), a leader in sustainable woody biomass production, announced that President Thomas Meth will speak at the Global Clean Energy Action Forum on September 22-23, 2022, in Pittsburgh, PA. Meth highlighted Enviva's significant role in decarbonizing energy, having displaced over 48.3 million metric tons of CO2e since its inception. The forum will gather over 5,000 delegates to discuss transitioning to low-carbon economies. Enviva is also expanding its focus to sustainable aviation fuel and other renewable energy opportunities, reflecting its commitment to tackling climate change.

The Enviva Forest Conservation Fund announced its 2022 grant recipients, aiding the conservation of over 3,000 acres of bottomland hardwood forests in Virginia and North Carolina. Over seven years, the Fund has distributed more than $3.1 million for 29 projects, aiming to protect a total of 33,000 acres. The projects enhance clean drinking water, air quality, storm protection, and wildlife habitats while supporting rural economies. With a goal to protect over 35,000 acres, the Fund continues to partner with diverse conservation groups.

Enviva Inc. (NYSE: EVA) welcomed the European Parliament's recent vote to recognize primary woody biomass as a renewable energy source, aligning with prior classifications and supporting the EU's renewable energy targets. This recognition is vital for achieving the EU's aim of 45% renewable energy by 2030 and carbon neutrality by 2050. The decision also supports the utilization of woody biomass in energy strategies, crucial for reducing carbon emissions. Enviva emphasizes the importance of increasing biomass use for energy supply security and climate goals amid rising energy demands in Europe.

Enviva Inc. (NYSE: EVA) announced the availability of its 2021 Schedule K-3 form for investors with international tax requirements. This form is accessible online for those who may need detailed information for tax reporting, particularly foreign investors. Enviva confirmed it will not issue Schedule K-3 forms for years post-2021 due to its transition from a master limited partnership to a corporation on December 31, 2021. The company remains the world's largest producer of industrial wood pellets, operating ten plants with a production capacity of approximately 6.2 million metric tons per year.