Renewable Energy Group Inc – High Marketing Stocks
You may have heard of the term biodiesel. It is made by processing vegetable oil, animal fat, and used restaurant grease. Biodiesel can be used to run cars and other modes of transportation. It can help significantly reduce greenhouse gas emissions as well. Therefore, biodiesel has tremendous potential in a world that is moving towards clean energy and sustainability. Renewable Energy Group is the largest supplier of biodiesel in the North American region. Therefore, it potentially appears to be a promising stock when looking at the energy sector. The more popular names are the oil majors, and oil marketing stocks price gets tracked more closely. However, it may be a good idea to also track companies like Renewable Energy Group that bring in concepts aligned with the broader trend of sustainability.
Renewable Energy Group Q22021 Earnings
On 4th August 2021, Renewable Energy Group announced its second-quarter 2021 earnings results. During the quarter, the company produced 132 million gallons of fuel and sold 163 million gallons of fuel. The company management revealed that it is working on expanding its renewable diesel offerings. It was also revealed that Renewable Energy Group has signed up with the famous football club Manchester United to promote its brand. Total revenues jumped from $543 million in Q22020 to $816 million in Q22021. That represented year-on-year growth of 50%. The adjusted EBITDA number also crossed $100 million during the quarter. The net income also swung from a loss of $1.6 million to a profit of 79.5 million. Meanwhile, Renewable Energy Group also informed that it had received all approvals to move ahead with the Geismar expansion project. The expansion will enhance production capacity from 90 million to 340 million gallons. Clearly, Renewable Energy Group is on an uptrend. High marketing stocks may not be giving out the same sort of positive news.
Marketing Stocks Price
Renewable Energy Group operates a total of 12 biorefineries in the US and Europe. It has produced around 520 million gallons of clean fuel as of 2021. That fuel has led to a carbon reduction of 4.2 million metric tons. With the demand for renewable energy and cleaner fuels on the rise, the future prospects of the company appear to be bright.