RENEWABLE ENERGY GROUP, INC. REGI Income Statement

Renewable energy group, inc. (REGI)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
REVENUES:
Revenues
474,557	1,017,283	584,188	560,145	478,137	519,281	595,985	578,210	687,225	728,726	625,146	455,928	343,737	1,006,974	419,093	399,325	213,675	-26,497	393,758	366,455	221,026	3,347	382,296	327,837	209,122	348,560	399,226	340,111	119,721	231,651	320,999	271,035	182,780	239,605	232,261	182,998	97,962	62,285	45,290
Total biomass-based diesel revenue
-	-	-	-	-	-	-	-	-	-	-	534,098	418,002	-	624,075	557,268	297,841	387,778	394,824	373,733	230,814	337,409	384,126	332,859	219,012	390,568	458,429	384,688	264,326	231,907	322,873	271,850	188,167	266,700	256,422	196,273	104,414	62,965	46,191
Revenues
474,669	1,018,169	584,372	560,643	478,209	519,761	596,324	578,900	688,002	573,676	626,983	535,103	418,893	558,421	624,640	558,301	297,870	387,808	394,856	373,762	230,918	337,615	384,258	332,918	219,040	390,591	458,444	384,735	264,368	231,948	322,912	271,927	188,247	266,782	256,502	196,312	104,435	63,122	46,337
Services - related parties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26	69
Biomass-based dieselrelated parties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	4,542	10,703	10,490	14,283	7,146	12,160	12,057	13,411	11,730	12,165	11,633	12,897	17,669	63,998	74,891	81,182	43,491	35,687	25,156
Total biomass-based diesel costs of good sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	390,424	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
COSTS OF GOODS SOLD:
367,396	472,612	560,296	587,415	491,001	457,898	545,165	521,386	438,547	552,854	612,188	503,649	401,610	476,630	577,292	533,439	280,486	281,382	390,451	357,855	247,113	226,433	361,543	317,767	207,476	345,883	400,595	334,554	177,673	224,399	320,121	240,978	171,213	232,737	201,957	165,919	96,207	56,637	41,243
GROSS PROFIT (LOSS)
107,273	545,557	24,076	-26,772	-12,792	61,863	51,159	57,514	249,455	20,822	14,795	31,454	17,283	81,791	47,348	24,862	17,384	106,426	4,405	15,907	-16,195	111,182	22,715	15,151	11,564	44,708	57,849	50,181	86,695	7,549	2,791	30,949	17,034	34,045	54,545	30,393	8,228	6,485	5,094
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
27,485	41,361	24,629	26,865	25,354	29,588	20,985	24,512	31,654	24,244	25,880	22,812	22,907	26,859	20,799	20,850	19,777	22,895	18,468	15,359	16,675	24,720	13,897	12,410	11,654	12,309	12,686	11,226	9,644	8,530	9,902	11,014	12,962	9,344	11,045	7,812	6,278	5,782	5,731
RESEARCH AND DEVELOPMENT EXPENSE
-	-	133	176	-	-	947	27	1,034	-	3,759	3,181	3,598	-8,268	4,805	4,427	3,926	5,074	3,527	4,390	3,860	4,524	2,810	3,217	1,873	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Asset Impairment Charges
-	-	11,145	468	-	-	0	0	-	-	0	1,341	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,336	-
INCOME (LOSS) FROM OPERATIONS
79,788	503,910	-11,831	-54,281	-38,146	33,404	29,227	32,975	216,767	-41,416	-14,844	4,120	-9,222	45,307	21,744	-415	-6,319	-96,571	-17,590	-3,842	-36,730	81,938	6,008	-476	-1,963	32,141	45,163	38,955	77,051	-995	-7,111	19,935	4,072	24,701	43,500	22,581	1,950	-6,633	-637
OTHER INCOME (EXPENSE), NET:
Change in fair value of contingent consideration
0	0	-136	398	304	444	185	30	458	153	1,433	-24	589	-2,761	1,124	3,571	-15	-	1,106	-2,121	-	-5,188	-1,059	-384	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of convertible debt conversion liability
-	-	-	-	-	-	-	-	-	-42,991	-8,560	32,546	172	2,626	-3,013	13,432	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (loss) on debt extinguishment
1,172	490	0	0	-2	3,404	788	2,337	-232	0	0	0	0	-	179	2,152	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on involuntary conversion
-	-	0	0	-	3	0	454	4,000	4,387	942	0	0	1,884	3,470	997	3,543	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income (loss)
-304	39	179	691	854	1,243	499	2,066	1,215	-721	12	32	-320	856	-493	153	-88	-1,117	4,896	1,779	272	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of preferred stock conversion feature embedded derivatives
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	11,975	63,510	-38,483	-19,645	2,557	1,996	5,001
Change in fair value of Seneca Holdco liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	349	403	-977	-2,250	727	-1,773	-371
Change in fair value of interest rate swap
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	103	116
Other income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	124	384	48	112	66	93	117	395	56	28	37	216	239	200	275	346	59
Interest expense
2,472	1,354	2,866	3,737	4,219	3,955	4,003	4,925	4,651	5,015	4,725	4,479	4,536	4,451	4,487	3,738	3,311	3,275	2,921	2,928	2,743	2,068	2,867	1,204	551	640	577	604	576	1,417	1,150	1,059	1,053	2,453	2,183	1,751	1,708	1,483	1,394
Impairment of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	400
Total other income (expense), net
-1,604	-825	-2,551	-3,444	-3,671	251	-2,901	-98	-126	3,823	3,356	-36,969	-5,617	-2,350	558	9,425	159	-5,048	869	972	-2,471	3,226	-1,684	-436	-503	-528	-511	-511	-459	-1,371	-1,094	-1,031	11,308	61,676	-41,404	-23,446	1,851	-811	3,011
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES
78,184	503,085	-14,382	-57,725	-41,817	33,655	26,326	32,877	216,641	-37,593	-11,488	-32,849	-14,839	42,957	22,302	9,010	-6,160	-101,619	-16,721	-2,870	-39,201	85,164	4,324	-912	-2,466	31,613	44,652	38,444	76,592	-2,366	-8,205	18,904	15,380	86,377	2,096	-865	3,801	-7,444	2,374
INCOME TAX BENEFIT (EXPENSE)
1,331	579	-629	-90	-430	2,385	854	3,835	-1,203	-33,410	-115	1,960	1,075	3,447	-1,203	1,296	728	-6,047	-1,050	-707	-897	15,846	-248	-11,919	-107	1,483	-42,051	15,314	30,189	-2,215	-2,165	4,471	1,363	-	4,752	0	-	-	2,600
NET INCOME (LOSS) FROM CONTINUING OPERATIONS
76,853	502,506	-13,753	-57,635	-41,387	31,270	25,472	29,042	217,844	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
LESS—NET INCOME FROM CONTINUING OPERATIONS ATTRIBUTABLE TO NONCONTROLLING INTEREST
-	-	-	-	-	-	-	-	-	-	-	-	-	185	63	108	30	37	4	-162	-197	-73	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
DISCONTINUED OPERATIONS (NOTE 6):
Loss on operations of discontinued operations
-	-	-	-	-	-	-	-	-3,455	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET LOSS ON DISCONTINUED OPERATIONS
0	-995	-2,193	-4,462	-2,017	-12,196	-469	4,808	-3,455	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
76,853	-	-15,946	-	-43,404	-	25,003	-	-	-	-	-	-	-	23,505	7,714	-6,888	-95,572	-15,671	-2,163	-38,304	69,318	4,572	11,007	-2,359	-	-	-	-	-	-	-	-	-	-	-	-	-	-
INCOME FROM EQUITY INVESTMENTS
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-59	649	-83	-65	-173	-166
NET INCOME (LOSS) TO THE COMPANY
-	-	-	-62,097	-	-	-	33,850	214,389	-	-11,373	-34,809	-15,914	20,197	23,442	7,606	-6,918	-95,609	-15,675	-2,001	-38,107	69,391	4,572	11,007	-2,359	30,130	86,703	23,130	46,403	-151	-6,040	14,433	14,017	88,088	-2,007	-948	3,736	-7,617	-392
LESS—EFFECT OF PARTICIPATING SHARE-BASED AWARDS ON CONTINUING OPERATIONS
1,553	8,619	0	0	0	-	673	765	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EFFECTS OF RECAPITALIZATION
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	39,107	-	-	-	-	-	-
PLUSGAIN ON REDEMPTION OF PREFERRED STOCK
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	378	0	0	0	0	-	-	-	-	-	-	-	-	-	-
LESSEFFECT OF CHANGES TO PREFERRED STOCK
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	40	-	-	-	-	-	-	-	-	-	-	-	-	-	-
LESSACCRETION OF SERIES A PREFERRED STOCK TO REDEMPTION VALUE
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1,808	6,790	6,477	6,180	5,896	5,367	5,178
PLUSCHANGE IN UNDISTRIBUTED DIVIDENDS ALLOCATED TO PREFERRED STOCKHOLDERS
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	147	-839	839	-	862	-628	1,451	3,256	3,221	3,185	3,061	2,961	2,926
LESSDISTRIBUTED DIVIDENDS TO PREFERRED STOCKHOLDERS
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	258	1,590	0	-	-	1,470	-	-	-	-	-	-	-
LESSEFFECT OF PARTICIPATING PREFERRED STOCK
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	816	6,455	2,491	6,510	0	0	1,337	7,615	-	-	-	-	-	-
Effect Of Participating Share Based Awards
-	-	-	-	-	-	-	-	5,236	-	0	0	0	577	513	161	0	0	0	0	0	-	68	172	-	470	1,381	315	619	0	0	944	2,201	-	-	-	-	-	-
Net Income (Loss) from Continuing Operations Available to Common Shareholders, Basic
75,300	493,887	-13,753	-57,635	-41,387	30,120	24,799	28,277	212,608	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
LESS—EFFECT OF PARTICIPATING SHARE-BASED AWARDS ON DISCONTINUED OPERATIONS
-	-	0	0	-	-	0	127	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) from Discontinued Operations Available to Common Shareholders, Basic
0	-995	-2,193	-4,462	-2,017	-12,069	-469	4,681	-3,455	49,296	-11,373	-34,809	-15,914	-42,584	22,929	7,445	-6,918	-95,609	-15,675	-2,001	-38,107	68,302	4,504	10,835	-2,021	28,784	78,462	19,573	38,435	-975	-6,902	11,310	40,049	69,992	-11,705	-10,313	-5,221	-15,945	-8,496
Basic net income (loss) per share available to common stockholders
Continuing operations (in dollars per share)
1.93	12.93	-0.35	-1.52	-1.11	0.94	0.67	0.76	5.48	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Discontinued operations (in dollars per share)
0.00	-0.02	-0.06	-0.12	-0.05	-0.33	-0.01	0.13	-0.09	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) per share (in dollars per share)
1.93	12.92	-0.41	-1.64	-1.16	0.64	0.65	0.88	5.39	-0.44	-0.29	-0.90	-0.41	-	0.59	0.18	-0.16	-2.17	-0.36	-0.05	-0.86	1.67	0.11	0.27	-0.05	0.80	2.32	0.63	1.25	-0.22	-0.24	0.39	1.60	4.65	-0.34	-0.78	-0.39	-0.51	-0.28
Diluted net income (loss) per share available to common stockholders
Earnings Per Share, Diluted [Abstract]
Continuing operations (in dollars per share)
1.72	11.99	-0.35	-1.52	-1.11	0.18	0.55	0.67	5.38	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Discontinued operations (in dollars per share)
0.00	-0.02	-0.06	-0.12	-0.05	-0.31	-0.01	0.11	-0.09	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings Per Share, Diluted
1.72	11.99	-0.41	-1.64	-1.16	-0.09	0.53	0.78	5.30	-0.44	-0.29	-0.90	-0.41	-	0.59	0.18	-0.16	-2.17	-0.36	-0.05	-0.86	1.67	0.11	0.27	-0.06	0.82	2.31	0.62	1.25	0.06	-0.24	0.39	0.06	4.65	-0.34	-0.78	-0.39	-0.51	-0.28
Weighted-average shares used to compute basic net income (loss) per share available to common stockholders:
Weighted Average Number of Shares Outstanding, Basic
38,979	38,989	38,959	37,851	37,353	37,246	37,270	37,413	38,819	38,872	38,772	38,679	38,599	38,538	38,744	42,407	43,899	43,892	43,844	43,736	44,362	42,357	42,374	39,939	38,290	36,458	33,790	31,292	30,639	30,337	29,292	28,822	25,074	-6,843	34,738	13,276	13,259	31,115	30,337
Weighted-average shares used to compute diluted net income (loss) per share available to common stockholders:
Weighted-average shares used to compute diluted net income (loss) per share available to common stockholders:
Continuing operations (in shares)
43,692	55,119	38,959	37,851	37,353	47,546	45,503	42,081	39,484	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Discontinued operations (in shares)
0	38,989	38,959	37,851	37,353	32,578	37,270	42,081	38,819	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted Average Number of Shares Outstanding, Diluted
43,692	55,119	38,959	37,851	37,353	47,546	45,503	42,081	39,484	38,872	38,772	38,679	38,599	38,541	38,751	42,418	43,899	43,892	43,844	43,736	44,362	42,055	42,432	39,954	38,557	24,882	34,016	36,683	36,628	48,329	29,292	28,822	30,917	-6,843	34,738	13,276	13,259	31,115	30,337
Biomass-based diesel
Revenues
406,398	300,474	556,914	540,019	477,669	481,272	568,174	551,109	274,761	-	504,016	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6	-	-	36	1,664	1,349	2,112	680	879
COSTS OF GOODS SOLD:
367,326	452,189	548,819	580,133	490,998	435,731	535,376	510,375	405,810	477,279	505,871	468,407	353,851	438,764	456,441	468,069	253,715	103,213	390,424	357,832	242,510	95,842	351,033	303,462	200,305	333,716	388,518	321,074	165,883	212,170	308,445	228,002	153,467	168,662	126,987	84,713	52,698	20,882	15,969
Separated RINs
Revenues
-	-	26,762	19,596	-	37,663	26,867	26,186	47,179	92,439	120,389	67,349	57,324	83,599	104,646	60,790	25,765	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total cost of goods sold
-	-	11,469	7,282	-	22,167	9,789	11,011	32,737	78,787	105,131	34,218	46,629	39,155	119,515	65,370	26,769	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Biomass-based diesel government incentives
Revenues
68,159	664,882	512	530	468	346	944	915	365,285	225	741	10,821	16,941	90,782	100,336	97,153	58,401	227,736	1,066	7,278	9,788	203,892	1,830	5,022	9,890	42,008	59,203	44,577	144,605	256	1,868	815	5,387	27,059	22,497	11,926	4,340	-	22
Other
Revenues
112	886	184	498	72	480	339	690	777	-2,615	1,837	1,005	891	-1,462	565	1,033	29	30	32	29	104	206	132	59	28	23	15	47	42	41	39	77	80	82	80	39	21	131	77
COSTS OF GOODS SOLD:
70	0	8	0	3	0	0	0	0	-3,212	1,186	1,024	1,130	-1,289	1,336	0	2	23	27	23	61	100	20	22	25	7	20	69	60	64	43	79	77	77	79	24	18	68	118