Renewable Energy Group, Inc. (REGI) is a leader in energy and transportation businesses’ evolution to sustainability. It converts renewable energy sources to best-quality, sustainable fuel products. The company is a global producer of sustainable fuels that lower the emissions of greenhouse gas to directly decrease carbon impact.
The price of REGI Stock during the regular trading on February 25, 2022, was $43.8 with a slight gain of 1.74%. At last check in the aftermarket, the stock further soared by 34.6%.
REGI: Events and Happenings
On February 26, 2022, it was reported through anonymous sources that REGI and Chevron Corp. are in advanced-level discussions to purchase REGI for approximately $3 billion. Chevron is expected to pay a per-share price of $61.50 for REGI. On February 22, 2022, REGI updated that it will announce its Q4 2021 financials on March 1, 2022. On February 18, 2022, REGI and Bunker Holding Group, announced their entry into a strategic partnership to grow the US and EU marine markets for sustainable bio-based diesel.
On February 17, 2022, REGI reported installing an innovative pretreatment plant to refine the lowermost carbon intensity, the toughest to convert waste fats into bio-based diesel. The project is located in Germany. On January 4, 2022, REGI announced the acquisition of Amber Resources, LLC and its affiliated entities. On November 29, 2021, REGI informed its management’s participation at the following investor conferences.
- Morgan Stanley Energy & Clean Virtual Tech Symposium on December 1, 2021.
- Bank of America Securities Leveraged Finance Virtual Conference on December 1, 2021.
- Credit Suisse Climate Tech and Start-up Virtual Forum on December 6, 2021.
REGI: Key Financials
On November 2, 2022, REGI released its financial outcomes for the third quarter ended September 30, 2021. Some of the important points are discussed below.
Revenue
Revenue in Q3 2021 was $1 billion against $0.57 billion in the same quarter of 2020. The company observed a gain of $0.43 billion in year-over-year revenue. The company topped the revenue estimates by $100 million.
EPS
Diluted net income per share in Q3 2021 was $42.4 million or $0.83 against $22.6 million or $0.51 in the same period of 2020. The company recorded an incline in its net income over the year and missed the estimated EPS target by -$0.35.
Conclusion
REGI stock down-performed in the past year by 49%. The recent aftermarket stock gain of the company is likely the outcome of an unofficial $3 billion deal between the company and Chevron as suggested by the analysts. The company is also gearing for the earnings release and expects a revenue of $803 million versus $0.81 EPS.
