Enviva Inc. announced financial and operating results and declared a dividend for the 2Q 2022. Net revenue for the 2Q 2022 was $296.3 million as compared to $286.0 million and $285.0 million for the 2Q 2021 on a recast and non-recast basis, respectively.
Adjusted EBITDA for the 2Q 2022 was $39.5 million, as compared to $25.7 million and $48.9 million for the second quarter of 2021 on a recast and non-recast basis, respectively.
“For the 2Q 2022, Enviva delivered results at the top end of our expectations, and I’m pleased to report that many of the short-term challenges we experienced in the first half of the year are proving either transitory or manageable over time,” said John Keppler, Chairman and CEO. “While the broader energy markets continue to demonstrate volatility and uncertainty, we are excited to highlight the success we are realizing in near-term, higher priced sales, and converting new customer opportunities into long-term, take-or-pay supply contracts with durable pricing increases, including terms and conditions that should enable us to extend our track record of delivering stable cash flows that grow sustainably well into the future. As a result, we are not only on track to deliver a very strong back half of the year, but, as previously described, we see material margin expansion for the business not only in 2023, but also in 2024 and beyond.”
Enviva Inc. is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets.