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Finance

Benson Hill expects 2021 consolidated revenues to be in the range of $145 to $149 million

Benson Hill, has announced that it preliminarily expects 2021 consolidated revenues to be in the range of $145 to $149 million, ahead of the prior guidance of $127 million. On an organic and normalised basis, revenues in the ingredients segment are anticipated to nearly double versus 2020 due to high demand in the proprietary soy portfolio for the food, feed and oil markets and higher prices for yellow pea ingredients. Revenues in the Fresh segment are expected to be relatively flat versus 2020, as higher volumes were nearly offset by pricing pressure due to softness in the fresh produce market.

The Company preliminarily expects a net loss of $126 to $130 million and non-GAAP adjusted EBITDA loss in the range of $80 to $84 million for 2021. Losses were impacted as a result of start-up costs at the recently acquired Seymour facility and lower gross margins, particularly in the Fresh segment.

“Our 2021 preliminary revenue results demonstrate our ability to scale our supply chain and deliver products to meet our customers’ needs,” said Matt Crisp, Chief Executive Officer of Benson Hill.

 The Company expects 2022 consolidated revenues in the range of $315 to $350 million and an adjusted EBITDA loss that is slightly higher than in 2021. The Company anticipates a significant majority of top-line growth to come from the ingredients segment, with revenues of $250 to $275 million. It is expected that $90 to $100 million of revenue will be derived from the addition of the legacy Creston business.

Benson Hill expects improved financial performance in the Fresh segment based on a modest price recovery as the year progresses and a shift to more Company controlled farmed products. As a result, the Company expects 2022 Fresh revenues to be $65 to $75 million.

Benson Hill expects 2021 consolidated revenues to

Environment, Pulses

USA Dry Pea Lentil Council hopes for improved talks on India tariffs to continue the pulse trade with India.

USA Dry Pea & Lentil Council (USADPLC), the highest quality producer of lentils, dry peas, and chickpeas for national and international markets, has exuberantly laid out a vision for a healthy and viable 2022. As per the USADPLC, the year 2022 glances over sustainable development goals, including good health and well-being. In addition to the objective of a sustainable year, USA Dry Pea Lentil Council hopes for improved talks on India tariffs to continue the pulse trade with India.

Speaking about the prospects for 2022, Sachin Khurana, India Representative, USADPLC, said, “India is an extremely crucial market for our exporters. We remain hopeful that the trade barriers will be resolved in 2022, and the pulses trade relation between India and the US will return to normalcy. Also, in 2022, we will continue to strengthen our sustainability story and educate Indian importers, traders, and consumers about the benefits of sustainable commodity – Pulses.”

Khurana added, “In 2022, USADPLC is also aiming to focus on ‘Standard for Quality’ – an initiative to highlight the quality and premium standard of US Pulses. Through this campaign, we aim to engage with retailers and spread awareness amongst consumers about the superior quality of US Pulses.” 

USA Dry Pea Lentil Council hopes for