Enviva Takes Huge Stock Price Hit
Enviva’s stock price, which has been falling all year from a high of $51 in January, sank to under a $1 a share after a new interim CEO delivered a sobering third-quarter earnings call that raised questions about the company’s viability, blaming unfavorable wood pellet pricing, problems at a plant in Virginia, higher interest expenses and other factors.
In its third quarter Security and Exchange Commission filing, Enviva cautioned that “these conditions and events in the aggregate raise substantial doubt regarding the company’s ability to continue as a going concern.”
As investors rushed for the exits, Bloomberg reported a one-day stock price drop of 79 percent. Interim CEO Glenn Nunziata (Enviva’s chief financial officer taking on the interim role) said the organization is urgently moving to “execute a multifaceted transformation plan.” He added that executives would be reviewing the company’s contracts and debt.
Latest news
Legacy Plant Converting To ‘Carbon Negative AI Factory’
Legacy Plant Converting To ‘Carbon Negative AI Factory’Specializing in developing smaller carbon footprints for AI operations, New York-based NewYork GreenCloud (NYGC) has acquired the closed Buena Vista Biomass Power facility in Ione, Calif., with plans to convert...
John King Chains Celebrates 100th Year
John King Chains Celebrates 100th YearJohn King Chains Group is celebrating its 100th anniversary in 2026. Established in Leeds, England in 1926, the enterprise began by producing plain pedestal bearings for coal mining pit tubs. Expansion came with the rapid...
Find Us On Social
Subscribe to Our Newsletter
Wood Bioenergy News Online hits the inboxes of subscribers in the wood-to-energy sectors.
Subscribe/Renew
Wood Bioenergy is published and delivered worldwide 6 times per year. Free to qualified readers in the U.S. Subscribers outside the U.S. are asked to pay a small fee.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.