Streetbeat News

EVA

Enviva Inc.

https://www.envivabiomass.com

Industry

Paper, Lumber & Forest Products

Enviva Inc. produces and sells utility-grade wood pellets. The company's products are used as a substitute for coal in power generation, and combined heat and power plants. It serves power generators in the United Kingdom, Europe, and Japan. The company was formerly known as Enviva Partners, LP. Enviva Inc. was incorporated in 2013 and is headquartered in Bethesda, Maryland.

Open

0.41

Mkt cap

31M

Volume

135K

High

0.42

P/E Ratio

-0.04

52-wk high

1.85

Low

0.41

Div yield

N/A

52-wk low

0.00

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February 14, 2024 | 6:18 pm

Enviva Inc (NYSE:EVA), the largest U.S. wood pellet exporter, is reportedly preparing to file for bankruptcy due to significant losses from speculative commodity pricing. The company missed a $24 million interest payment and is in a 30-day grace period expiring soon. Bondholders may extend this period or finance the Chapter 11 process. Enviva's shares have dropped 99% over the past year after a failed strategy led to substantial losses. The company, which operates ten plants and six marine terminals, is facing doubts about its ongoing viability.

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February 14, 2024 | 5:37 pm

Nasdaq gained over 100 points with U.S. stocks trading higher. Kraft Heinz reported weaker-than-expected sales for its fourth quarter, missing sales expectations but beating earnings estimates. Datasea, Earlyworks, and Brera Holdings saw significant stock price increases, while Azitra, Enviva, and Ohmyhome experienced substantial declines. Enviva is reportedly preparing to file for bankruptcy.

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February 14, 2024 | 2:52 pm

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