Renewable Energy Group Inc.

Renewable Energy Group, Inc. is a leading North American advanced biofuels producer and developer of renewable chemicals. The company utilizes a nationwide production, distribution and logistics system as part of an integrated value chain model to focus on converting natural fats, oils and greases into advanced biofuels and converting diverse feedstocks into renewable chemicals. With 10 active biorefineries across the U.S., research and development capabilities and a diverse and growing intellectual property portfolio, Renewable Energy Group is committed to being a long-term leader in biomass-based fuels and chemicals.

Expert Comments:

Craig Irwin, ROTH Capital Partners (5/6/16)
"The margins Renewable Energy Group Inc. is currently seeing for the third quarter are higher than those both reported in 1Q16, and reflected in 2Q16 guidance. We see the next regulatory catalyst as EPA releasing proposed 2017 RVOs this June, where we expect a more normal finalization of RVOs on the November timeline. . .REG-Geismar profitability should continue ramping into YE2016 as the company tightens commercial relationships. . .we reiterate our Buy rating and $17 price target."

Craig Irwin, ROTH Capital Partners (4/22/16)
"We expect Renewable Energy Group Inc. to report healthy Q1/16 results benefiting from the full recognition of the biodiesel tax credit in generally accepted accounting principle earnings. . .REG Geismar is likely the swing factor for Q2/16 guidance, where we expect a smooth improvement for operating results. . .we reiterate our Buy rating and $17 price target."

Jefferson Research (2/5/16)
"Renewable Energy Group Inc. is showing strong cash flow quality, and valuation suggests a lower amount of price risk. . .the cash flow quality rating for the company remains strongest."

Brett Wong, Piper Jaffray & Co. (1/15/16)
"We are adjusting our model on Renewable Energy Group Inc. to incorporate the benefit of the extended Blenders Tax Credit in 2015 and 2016. . .we continue to believe that the biodiesel market is poised for improvement in 2016 driven by the lift in the Renewable Fuel Standards across biofuel categories and that the company is well positioned as the largest and lowest-cost producer."

Craig Irwin, ROTH Capital Partners (1/12/16)
"The implied 2016E equity value of Renewable Energy Group Inc. is roughly $200M, with roughly $275–300M positive cash flows expected in 2016, supported by retroactive and prospective recognition of the biodiesel tax credit. . .our $17 target reflects a 7x EV:EBITDA multiple on our 2016 estimate of $105M."

Craig Irwin, ROTH Capital Partners (12/16/15)
"We believe from various sources that a material positive for Renewable Energy Group Inc. is the omnibus bill that moved forward last night that includes a two-year extension of the $1/gal biodiesel blenders tax credit through 2016E. In the current form, we estimate this would translate into a retroactive $115M cash payment for 2015 production to be received in April 2016, and the direct recognition of the credit on the company's 2016 income statement."

More Expert Comments

Experts Following This Company

Craig Irwin – ROTH Capital Partners
John Quealy – Canaccord Genuity
Brett Wong – Piper Jaffray & Co.

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Investing Highlights
Largest U.S. Producer of Bio-Based Diesel
Capable of Using Lower Cost, Lower Carbon Waste Feedstock
Benefits from Government Incentives Including Renewable Fuel Standard and Blenders Tax Credit