and quarter Todd, delivered to our you, unusually volatile pleased environment. strong callers. another Thank report market I'm an in to welcome
of of fuels. both been are demand employees value. partners build were been ago, to the COVID-XX and by oil and operating and our robustness for emerged strength all and has while to the publicly diverse a well many collapse. has underlying Just and dedication which team. the base, macro of challenging our economic and we the results through that We've of believe demonstrate We our from continuing headwinds first price quarter the pandemic commenting full that and resilience market This of the a clean And caused testament uncertainties strong of on managing in followed a on for swings energizing year financial period, the point crude our they the and portfolio challenges time a assets. sustainable
at XX over be performance our months the time. the reinforces we indeed our We the message have also that in to built place a past believe position right right
disciplined To the average execution succeed and is optimization were assets quarter an must. the they capabilities, the throughout supportive given call, markets volatile. discuss environment and particular we'll in a our also on were in As such
sold. As the end, million and million, adjusted million team shown delivering EBITDA income we gallons $XX well executed were guidance, our and of XXX of $XXX on the Slide to upside In commercial product capture exceed X, our REG primarily our net placement, capabilities, competitive optimization, multi-feedstock sales us approach. diversity to the that a We leveraging is believe strategic targeted portfolio including quarter. the advantage enabled and our of in performance significant achieve through able
to to have value, to further, date, strong low it unpacking financial including which incident a a safety. parameter rate COVID core known is in Before our proud XXXX. most our health performance mention transmissions and say, any we is performance crucial and year zero workplace important I'm
which below the rate, recordable is X, incident industry average. transmissions shown COVID Our on XX-month Slide rolling pre-COVID includes any workplace remains total and
efforts rolling year-to-date our our XX-month we've doubled improving on is our trajectory Zero the Vision months to prior down slightly, and incident six period. While rate performance versus on achieve increased an has
results intensity as We collaborating second Slide to quarter upside results XXXX realized potential gains and to This driven by profit are prices on general also wider to raw core RIN materials. XXXX. were the tangible quarter; committed factors team feedstock of contributing capture outlines XXXX, by the optimizing enabled mix top second performance X generation drivers feedstock profit deliver to able versus positive between the our made over returns. quarter us possible higher a profitability. driving to of significant emphasis improved and in by was a margins increased shifting gross XXX% up deliver percentage in our were higher or Risk quarter bottom types. line to value lower compared as production We and also second to carbon management second differentials
recall, impacting and quarter we more psychological, time, of pandemic. full the with that navigate. and all COVID and a which business financial impacts extremely first As since the dealing market the the was And within was of physical, likely challenging. XXXX It Many all learned to we social, we've subsequently have had faded, quarter somewhat much. certain associated our headwinds second never forget, will
market quarter be ways. XXXX second the other continued in exceptional to However,
over prices driven of growing As low shown volatility, with both refined quarter soybean and forces, X soy restaurant with demand rose energy year-over-year. very XX% inventories of including uncertainty, issues resulting revitalizing pound prior soybean the season course attendance inter-quarter of crop a of much consumption a oil, variety ongoing on Slide harvest concomitant X, by oil the palm human billion based and in increase oil in
margin differential to of during quarter reflect the increase decline less but feedstock you of the the rates soybean realize differences. Note, City, the was shifted capabilities. soybean and clearly teams and at Kudos consumption. oil of plants excellence production upside to cost strong as also As production as year-over-year to outstanding mix the the the our of able total other degrees, soybean levels, due was Slide due moving to the enjoyed optimization delivering CI Continuing the Strong reduced did sales which gallons Back at biodiesel upside to our in was The we optimization sold volume was reduce sold. oil to performance quarter, feedstock are credits in sales, record and success oil slate during margin a quarterly pull product double stocks strong dynamics. on can which we made near-term of to discussion relatively renewable that an our of rise the the low partly such see Operational costly has conversion realized and based the prices to for lower products manufacturing that plants soybean Offsetting biodiesel year-over-year, timing and chose in remained raise quarterly Geismar to oil production sold at well this chart as set proactively turnaround. a X, The upgrading production potential intensity for our product varying diesel production year, quarter and based the us refined was diesel team lower Slide were biodiesel. down diesel these upgrading down results. veggie last pathway. Newton, on blended is facilities earlier, oil higher versus by sold. soybean as run production enabled oil the REG the carbon petroleum lower volume to benefit gallons flat total creating production historic bio-based along less slow our enhanced physical fewer due these carbon quarter biodiesel in for in soybeans motivated as XX% improvements within where and team with markets, the of first and incentivized level being Geismar prices CI bio-based feedstock our Geismar, turnaround to of It X, prices, drop overall, SBO blends, also crushers records. resulted Mason mentioned for veggie to to Emden the market gallons or diesel below
increase were sold North American choices from due to down and the planned see timing. gallon away sales diesel to We an and optimization in Clean, reduction standout REG shifted our sales we market Slide a Finally as Norway. on carbon California now to renewable performer and our continue for blend, Ultra which shown fuel proprietary renewable qualities strong offers biodiesel outstanding REG XX. be diesel customers as did
on for year-over-year continued low the shows fuel. these that sales up our are XX% upward clear performing customer with sales CAGR see high XX% the slide, enthusiasm and As since there's you XXXX can trend carbon an
data. is Slide middle of enjoying X%, demand yet diesel growing is is shows while XX the bio-based gasoline Clean outperformance beginning Ultra diesel diesel's diesel is bio-based gasoline bio-based industry XXXX. through not demand demand REG as of While a Even and jet general by the since clear and fully distillate pandemic, recovered. continued reflected up standout, in
wide time. see under more have back attractive of relatively you feedstock to uptick moved feedstocks demand. oil carbon quarter can on the when just bio-based navigate during market experienced that full play COVID shifted we pure chains by as soybean Since supply were approach demand process advantage oil using soybean markets swings feeds. flexible an is be a this normal and a the to in as feedstock lower proud we a production a feedstock second to strategy in REG what shifted disrupted of variety through XX% This with the and As takes we've last Slide available enabling into this met pre-treat, Recall able procure, quarter. XXXX. was industry, high mix then, and such heavily and us a and ability at We customer diesel significant in even year, the REG to to serve highly mix XX,
of approximately we feedstocks types the XXX During quarter, and origins XX suppliers. from unique processed approximately XXX
to Our enables global assurance. feedstock and adds sourcing multiple presence continents from
Of is spread RIN + fairly Alongside remained key margin business XX. spike stable addition to quarter in shown course, overall average HOBO the differentials, on our + an the HOBO pricing, X.XxRIN. on in in feedstock the as feedstock Slide over
to continue with $X.XX increases and as soybean RINs heating slide, the was oil + HOBO the on see function designed, market last can in second the The to you to As oil RIN and up year. quarter decreases of adjusting production. incentivize compared spread
of expect this should ruling Court Speaking we RINs, hear the on follows that proposed small exemptions. be releasing XXXX Supreme EPA the year. RVO the refinery This sometime recent later and the
continue burning Increasingly, renewable allows approval recognizes EPA. solution will low disappointed does for exemptions biodiesel, not sustainable gases. change, and emissions is and Clean offer Ultra to of of make Regardless compliance cost uphold there Circuit’s extensions, on diesel, transportation are to solution. the must no to the happens to simply We XXth viewing a and receive harm low carbon still to fuels cleaner extension, part exemption of an with what refinery a related RVO, of source we're immediate, that large the REG fossil easy, that must actually prioritize prove become carbon note resulting transportation it's the didn't greenhouse important request diesel them it remain for RFS the easier ruling still vital is and with use that lies RFS, from of to confident growing directly combustion Supreme one. Biden the the decision climate the While request refiners economic more Refiners these to the administration an Court sustainably. dispute for RFS relatively low it bio-based and like the society fuels with eligibility this grow
at governments many the would and extend level, to members BTC the front. extend encouraging $X more recognize both to stages, now, for in bills industry developments three proposals we need for Slide been introduced the these federal more or XX. policy our] markets. There Senate. Congress state our to years certainty through are the The developments tax Though credit per positive BTC early biodiesel the As also signal on XXXX. decarbonize [to to gallon level have House still on highlighted bipartisan the in the At begin of seeing the
biodiesel usage to and creates we our standards New passing were in We standards primarily signals Governor's for Island, usage REG portion a for signature Rhode similar legislation these for and oil are New is Connecticut oil heating heating and believe portfolio. for are demand in bullish that incremental awaiting York. pass of biodiesel market as
moving regulatory Europe, confidently and in making recently increases with to strengthen and see strategy. Fuel II set demand the all RED come XXXX, and efforts the Canadian other forward bio-based includes effect this renewable to foundation discussion we support the states Outside provisions of into With of legislation governments levels late Additionally, to released the to at for revision demand, fuel. long-term that are momentum in customer anticipated many are use continue Fit we're under Clean that pass for of diesel. our U.S., XX growing Standard is as
phase our will more are progressing which Geismar fully improvement describe expansion We into moment. construction of project, just and a Craig in
I when what with underway I a we we is are think, speak track strategically excited team growth entire to on I advantaged be are and project. say, our convinced for
that issuance to the notably as in bond we many for the reliability fuel green market take XX in full of early plans furthering operations gallons, industries mechanically In of energy been a demand state to project improvement improving financing with capacity from complete this expansion to solidified combined and and desire local comprehensive cleaner investors. transition robust the incentives. October gallons and highlighted and and expansion business Energy for million and successful by Louisiana a project total quarter robust state million XXXX existing is in XXXX. for during company and logistics. The Our an has expected saw production package ESG will jointly be contains the and the Geismar the project operations has project workforce the the environmental practices. ongoing and The The site driver operation received support sustainable enhancing community Renewable the welcomed fuel as XXX from Group XXXX, the announced economic incentive tax and value,
Manchester intend raise option. premier a advancing into biodiesel unveiled phase this for United They to the to awareness our perfect Club. of sports partnership construction at are of holders us partner XXX recently mission. addition we help one In the in Manchester with countries global Geismar, is to in a partnership watched also XX popular United international the this Football most record teams carbon as We of a league successful and in titles. low the breaking and world
or a U.S. football in As the
year a when emissions us, each in the one pioneers world and Like play greenhouse the a in gas and since. launching are their the U.S. they Club, growing of Soccer popular reducing sustainability, most spectator sport rapidly XXXX, comes they to program sports are in carbon industry in reduction it
in XX also only cases renewable Bio-based are U.S. and focused diesel and petroleum an fuels need tailpipe have diesel As growing. for cleaner, REG’s we our a provide stakeholders fuels a club. standard make base, There energy. to than the a versus lower effort not now. diesel. significantly United global getting transition growing out now. the carbon contribution the emissions on powered more today features, electric And believe With customers are more compelling emissions right review United’s our the REG's over on to Manchester world. to this – now a the to the Craig? globally vehicle viable the XX% quarter that what we Meanwhile, metric XXXX. overall having positive accelerate offers emissions. a fans cleaner that reduced their message is understand Craig one effect used fuels second It and together fan liquid that diesel carbon biodiesel use provides tons over availability, the performance fuel call perfect as electric to shows for of to Slide second to I'll X.X both the for turn available just fuels increase reducing produce commercially a of a powerfully and quantities option and with difference tremendous COX for partnership Manchester of sustainable our goal, sustainable financial to the help We're of positive are easy solution premier reducing efforts with it of it's partner carbon bio-based the reduction COX provider makes now, that, of low choose fuels REG ultimately quarter. is awareness for for We will grid, measurable sustainable from million