Green Plains Inc. (NASDAQ:GPRE) Q2 2023 Earnings Conference Call August 4, 2023 9:00 AM ET

Company Participants

Phil Boggs – Executive Vice President-Investor Relations

Todd Becker – President and Chief Executive Officer

Jim Stark – Chief Financial Officer

Devin Mogler – Senior Vice President, Government Affairs, Sustainability & Communications

Conference Call Participants

Craig Irwin – ROTH Capital

Adam Samuelson – Goldman Sachs

Kristen Owen – Oppenheimer

Manav Gupta – UBS

Salvator Tiano – Bank of America

Dan Rizzo – Jefferies

Jordan Levy – Truist Securities

Eric Stine – Craig-Hallum

Operator

Good morning, and welcome to the Green Plains Inc. and Green Plains Partners Second Quarter 2023 Earnings Conference Call. Following the company's prepared remarks, instructions will be provided for Q&A. At this time, all participants are in listen-only mode.

I will now turn the call over to your host, Phil Boggs, Executive Vice President, Investor Relations. Mr. Boggs, please go ahead.

Phil Boggs

Thank you, and good morning, everyone. Welcome to Green Plains Inc. and Green Plains Partners second quarter 2023 earnings call. Participants on today's call are Todd Becker, President and Chief Executive Officer; Jim Stark, Chief Financial Officer; and Leslie van der Meulen, EVP, Product Marketing and Innovation. There is a slide presentation available, and you can find it on the Investor page under the Events and Presentations link on both corporate websites.

During this call, we will be making forward-looking statements, which are predictions, projections or other statements about future events. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could materially differ because of factors discussed in today's press releases and the comments made during this conference call and in the Risk Factors section of our Form 10-K, Form 10-Q and other reports and filings with the Securities and Exchange Commission. We do not undertake any duty to update any forward-looking statement.

Now I'd like to turn the call over to Todd Becker.

Todd Becker

Thanks Phil, and good morning, everyone and thanks for joining our call today. So during the quarter, we were challenged by several events that held us back a quarter from showing you the results of the transformation as we experienced several significant events that negatively impacted what would have been a good quarter. The first was our Wood River incident, which took one of our largest locations down for most of the quarter. This impacted the company was over $18 million in total and we expect some recovery from insurance in the last half of the year so some of this will be coming back.