Benson Hill Announces Second Quarter 2024 Financial Results
Intellectia.AI Updated: 1970-01-01
Benson Hill Announces Second Quarter 2024 Financial Results
Benson Hill, Inc. (NYSE: BHIL) announced its financial results for the quarter ended June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q2 2023 | YoY Change | Consensus Estimates |
|---|---|---|---|---|
| Revenue | $33.8M | $23.5M | +43.8% | $24.3M |
| Net Loss | $18M | $36.5M | -50.7% | Not Provided |
| EPS | Not Provided | Not Provided | Not Provided | $-2.1 |
Interpretation: Benson Hill exceeded consensus estimates with a reported Q2 2024 revenue of $33.8 million, reflecting a substantial year-over-year increase of 43.8%. This growth underscores the company's effective shift to an asset-light business model.
Key Operational Data
| Metric | Q2 2024 | Q2 2023 | YoY Change |
|---|---|---|---|
| Adjusted EBITDA (Loss) | $12.4M | $15.2M | +18.4% |
| Cash & Marketable Securities | $29.5M | Not Provided | Not Provided |
Management Comments
Deanie Elsner, CEO of Benson Hill, highlighted the improved financial performance and strategic strides towards an asset-light licensing model. Elsner emphasized the company’s advanced technology core, partnerships, and upcoming animal feeding trials.
Dividends & Share Repurchase
No announcements regarding dividends or share repurchase programs were made.
Forward Guidance
No specific forward guidance was provided.
Stock Price Movement
Following the earnings release, Benson Hill's stock saw a modest increase of 0.156%, indicating a stable reaction from investors.
Benson Hill’s management demonstrated effective strategic execution, evidenced by their substantial revenue growth and operating loss reduction. The company continues to invest in technology and partnerships to secure future growth.
View the full release and multimedia content here .