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Q2 2015 Earnings Call – PACIFIC ETHANOL INC.

PACIFIC ETHANOL INC. · Jul 30, 2015 · 14 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q2 2015 Earnings Call – PACIFIC ETHANOL INC. – slide 1
    Mission: To be the leading producer and marketer of low-carbon renewable fuels in the United States Pacific Ethanol Second Quarter 2015 Presentation July 30, 2015
  2. Q2 2015 Earnings Call – PACIFIC ETHANOL INC. – slide 2
    Recent Highlights Net sales of 227.6 million, a 10% sequential increase Financial Highlights Record total gallons sold of 140.7 million Gross profit of 6.3 million Operating income of 2.3 million Adjusted EBITDA of 5.4 million…
  3. Q2 2015 Earnings Call – PACIFIC ETHANOL INC. – slide 3
    Aventine Acquisition Overview Pacific Ethanol now has eight Boardman, OR 40mmgy Dry Mill strategically located bio-refineries in the U.S. Burley, ID 60mmgy Dry Mill Aurora, NE Aurora, NE Stockton, CA 110mmgy Pekin, IL 45mmgy…
  4. Q2 2015 Earnings Call – PACIFIC ETHANOL INC. – slide 4
    Strategic Advantages of Acquisition Spreads commodity and basis price risks across diverse markets and products, Connects Destination & Origin enabling optimization of margin management Market Strategies, Providing Improves hedging…
  5. Q2 2015 Earnings Call – PACIFIC ETHANOL INC. – slide 5
    Ethanol Industry Review U.S. ethanol demand drivers Ethanol is the Cheapest Octane Enhancer(1) Refiners blend ethanol to increase 2.44 2.77 2.29 2.34 octane and lower tailpipe emissions required by motor vehicles 1.54 Ethanol…
  6. Q2 2015 Earnings Call – PACIFIC ETHANOL INC. – slide 6
    Californias Low-Carbon Fuel Standard Californias Low-Carbon Fuel Standard (LCFS) requires refiners to reduce the carbon intensity of their fuels by 10% between 2011 and 2020 Pacific Ethanol currently receives a 0.04 per gallon premium…
  7. Q2 2015 Earnings Call – PACIFIC ETHANOL INC. – slide 7
    Income Statement Consolidated Statements of Operations (Figures below in thousands, except per share amounts) 3 Mos. 3 Mos. 6 Mos. 6 Mos. 6/30/15 6/30/14 6/30/15 6/30/14 Net sales 227,621 321,144 433,797 575,687 Gross profit 6,254…
  8. Q2 2015 Earnings Call – PACIFIC ETHANOL INC. – slide 8
    Balance Sheet Highlights (Figures below in thousands) At: June 30, 2015 December 31, 2014 Cash & cash equivalents 49,262 62,084 Current assets 117,664 139,551 Total assets 282,946 299,502 Current liabilities 25,940 25,447 Total…
  9. Q2 2015 Earnings Call – PACIFIC ETHANOL INC. – slide 9
    Synergies & Debt Objective to achieve at least 1 million per month in synergistic benefits. Highlights include SG&A savings Immediate reduction in executive management and redundant positions: 1 million 9 month goal to gain…
  10. Q2 2015 Earnings Call – PACIFIC ETHANOL INC. – slide 10
    Growth Initiatives Integrate & optimize Pacific Ethanols Midwest assets Execute plant improvement efforts to increase efficiencies and profitability Implement advanced biofuels initiatives Leverage state-of-the-art,…
  11. Q2 2015 Earnings Call – PACIFIC ETHANOL INC. – slide 11
    Appendix 11
  12. Q2 2015 Earnings Call – PACIFIC ETHANOL INC. – slide 12
    Use of Non-GAAP Measures Management believes that certain financial measures not in accordance with generally accepted accounting principles (GAAP) are useful measures of operations. The company defines Adjusted Net Earnings (Loss) as…
  13. Q2 2015 Earnings Call – PACIFIC ETHANOL INC. – slide 13
    Adjusted Net Earnings (Loss) Reconciliation (Figures below in thousands) 3 Mos. 3 Mos. 6 Mos. 6 Mos. 6/30/15 6/30/14 6/30/15 6/30/14 Net income (loss) available to 695 15,257 (3,997) 4,119 common stockholders Adjustments: Fair…
  14. Q2 2015 Earnings Call – PACIFIC ETHANOL INC. – slide 14
    Adjusted EBITDA Reconciliation (Figures below in thousands) 3 Mos. 3 Mos. 6 Mos. 6 Mos. 6/30/15 6/30/14 6/30/15 6/30/14 Net Income (Loss) attributed to Pacific 1,010 15,572 (3,370) 4,746 Ethanol Adjustments: 943 2,551 1,864 6,595…

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