Benson Hill sees FY23 revenue $390M-$430M, consensus $442.08M

Sees FY23 proprietary revenues $100M-$110M; consolidated gross profit $20M-$30M; net loss from continuing operations ($125M)-($135M); and adjusted EBITDA loss ($63M)-($68M). The expected increase in proprietary revenue and consolidated gross profit growth result from anticipated increased availability of proprietary products, greater contribution from partnerships and licensing, and continued strong execution in the closed loop business model. As a result, management expects a higher proportion of the revenue and gross profit mix to come from the proprietary soy portfolio. Consistent with the Company’s strategic plan, management expects a greater use of free cash flow in 2023 versus the prior year due to the start of a two-year capital investment to produce texturized soy flour and an expected increased use of working capital to support the expansion of proprietary planted acres.