Benson Hill, Inc. (BHIL) Misses Q2 EPS by 13c

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Go back to Benson Hill, Inc. (BHIL) Misses Q2 EPS by 13c

Benson Hill Announces Second Quarter 2023 Financial Results

August 9, 2023 7:00 AM EDT

Reported revenues increased 16 percent year-over-year to approximately $109 million, including a 53 percent increase in proprietary revenues. Reported gross profit was $3 million ($6.1 million when excluding an approximate $3.1 million impact from open mark-to-market timing differences). Management announced an additional expected $10 million in annualized operating cost reductions in 2024. The Company ended the second quarter with $118 million of cash restricted cash, and marketable securities. Management modifies its 2023 guidance for lower operating expenses, lower capital expenditures, and narrowing the range for consolidated gross profit.

ST. LOUIS--(BUSINESS... More