Green Plains Reports Third Quarter 2026 Financial Results
Green Plains delivered a sharp Q3 2026 earnings inflection, with net income of $85.4 million ($1.03 diluted EPS) versus $11.9 million ($0.17) a year earlier, and record adjusted EBITDA of $118.0 million. Revenue slipped 2.5% to $496.0 million on lower volumes following the Obion plant disposition, but the consolidated ethanol crush margin more than doubled to $122.8 million, aided by $65.4 million of 45Z production tax credit value and record ethanol and corn oil yields at 95% plant utilization. Post-quarter, the company signed an agreement to monetize $250 million to $325 million of 2026 45Z tax credits, and updated full-year guidance for 45Z-driven EBITDA contribution to $230-$250 million.
Key figures
- Eps
- 1.03
- Revenue
- 495990000
- Guidance
- 2026 full-year adjusted EBITDA contribution from 45Z tax credit value (net of discounts and costs) updated to $230M-$250M
- Revenue Yoy
- -2.5%
- Net income
- 85436000
- Total debt
- 477700000
- Crush margin
- 122819000
- Adjusted ebitda
- 117981000
- Plant utilization
- 95%
- Operating cash flow
- 47350000
- Ethanol gallons sold
- 174881000
- Revolver availability
- 290000000
- Crush margin prior year
- 59608000
- Adjusted ebitda prior year
- 52568000
- Tax credit ebitda contribution
- 65400000
- Total cash and restricted cash
- 225100000
AI analysis
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