Renewable Energy Group Inc – Oil And Gas Stocks 2021
A recent investor presentation of America’s largest biofuel refiner had the tagline “ Right Place Right Time.” It was playing on the fact that the world is shifting towards sustainability, and now was the time to make the shift. Renewable Energy will play a major role in transition to cleaner fuels, and therefore it is the right place for investors to analyze. Indeed, if you are looking for 2021 oil refining stocks, then the traditional crude oil refiners would be the obvious names that pop up. Crude oil prices have been on a strong uptrend, and there have been reports about high inflation boosting commodity prices into the future. However, Renewable Energy Group is also an oil refiner. It just refines biofuel instead of conventional oil. And with governments pushing towards climate-driven mandates, it is quite likely that more and more vehicles will use biofuels to help countries meet their climate targets. So, it makes sense to take a closer look at companies that are experiencing structural tailwinds.
3Q2021 Earnings Released By Renewable Energy Group
Recently, on 3rd November 2021, Renewable Energy Group announced its third-quarter 2021 earnings numbers. The revenue jumped significantly from $572 million in the third quarter of 2020 to over $1 billion in 2021. The operating income doubled from $23 million in 3Q2020 to $51 million. Regarding the volume of fuel sold, the trend was rather flat as Renewable Energy Group sold 172 million gallons of fuel. Company CEO Cynthia Warner highlighted that the company was focusing on selling its fuel to marine and rail customers. If you are thinking about investing in oil and gas stocks 2021, consider taking a closer look at the biofuels sector before deciding.
Renewable Energy Group estimates that it has sold some 651 gallons of biodiesel as of December 2020. It has resulted in more than 4 million metric tons of carbon reduction. The company operates 12 biorefineries in the US and has nearly 900 employees globally.