Green Plains Renewable Energy Inc (GPRE)
Interest coverage
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | -61,335 | -104,241 | -194,152 | -93,177 | -89,841 | -60,468 | -44,745 | -77,837 | 3,018 | -40,187 | -7,077 | -41,122 | -119,204 | -89,672 | -113,642 | -153,013 | -147,976 | -39,334 | -6,054 | 51,890 |
| Interest expense (ttm) | US$ in thousands | 37,703 | 35,489 | 35,515 | 33,574 | 32,642 | 33,101 | 33,013 | 44,271 | 67,144 | 70,682 | 71,363 | 61,975 | 39,993 | 38,208 | 38,587 | 40,166 | 40,200 | 60,647 | 69,802 | 80,574 |
| Interest coverage | -1.63 | -2.94 | -5.47 | -2.78 | -2.75 | -1.83 | -1.36 | -1.76 | 0.04 | -0.57 | -0.10 | -0.66 | -2.98 | -2.35 | -2.95 | -3.81 | -3.68 | -0.65 | -0.09 | 0.64 |
December 31, 2023 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $-61,335K ÷ $37,703K
= -1.63
The interest coverage ratio of Green Plains Inc has been consistently below 1 in the recent quarters, indicating that the company's operating income is insufficient to cover its interest expenses. This trend raises concerns about the company's ability to meet its financial obligations and suggests potential financial distress. The significant negative values of the interest coverage ratio indicate a high risk of default on debt payments. Green Plains Inc may face challenges in refinancing debt or obtaining new financing due to its weak interest coverage performance. Investors and creditors should closely monitor the company's financial health and liquidity position.
Peer comparison
Dec 31, 2023