Enviva reports minimal hurricane impact, bumps up full-year net loss guidance

Oct. 03, 2022 9:59 AM ETEnviva Inc. (EVA)By: Carl Surran, SA News Editor1 Comment

Wood pellets in hands

urbazon/iStock via Getty Images

Enviva (NYSE:EVA) +3.2% in early trading Monday after saying Hurricane Ian caused minimal impact to operations, and updating guidance for Q3, Q4 and FY 2022.

Enviva (EVA) improved full-year guidance for a net loss of $35M-$55M from its prior outlook of a net loss of $10M-$30M, while narrowing adjusted EBITDA guidance to $240M-$260M from $230M-$270M previously; the company maintained dividend expectations of $3.62/share.

For Q3, Enviva (EVA) issued guidance for a net loss of $10M-$15M and adjusted EBITDA of $60M-$65M; for Q4, the company sees net income of $35M-$50M and adjusted EBITDA of $105M-$120M.

The company said its H2 is traditionally its seasonally strongest period, as higher plant productivity is achieved through drier, warmer weather and increased asset utilization and throughput rates.

Enviva (EVA) also said the production ramp for its newest wood pellet production plant in Lucedale, Miss., continues to progress in line with expectations, and the company continues to see increased shipping from its new deepwater marine terminal in Pascagoula, Miss.

Recommended For You

Comments (1)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.