Green Plains : First Quarter 2026 Results
GPRE
Published on 05/07/2026 at 08:58 am EDT
May 7, 2026
Net Income attributable to Green Plains
Adjusted EBITDA
EPS
(dilutive)
Revenue
Operational excellence, disciplined cost management, favorable market conditions and carbon sequestration drove improved Q1 results
3
174.2 million gallons
of ethanol
97%*
of production capacity
362 thousandtons
of distillers grains (dry equivalent)
54 thousand tons
of Ultra-High Protein
58.5 million
pounds of renewable corn oil
58.8 million
bushels of corn processed
$64.6 million
consolidated ethanol crush margin
*excludes Fairmont's idled capacity, calculated using revised stated capacity disclosed in 2025 10-K
4
Our team is focused on safe execution to deliver consistent, repeatable results
Safety performance reinforces reliability across the platform
Yields and uptime support repeatable margin capture
Capital is being directed toward projects that permanently improve reliability, efficiency and cost structure
MOUNT VERNON, IN
>' "Green Plains 5
$200 - 225M
$140 - $165M
~$60M
Expected 2026 EBITDA contribution from 45z production tax credits
Advantage Nebraska 2026 EBITDA opportunity
Expected EBITDA contributions from 45Z generation at remaining facilities
Focus on capture efficiency, monetization and maximizing 45z value
6
SELECTED OPERATING DATA
(In thousands)
For the three months ended March 31,
2026
2025
Ethanol production
Ethanol (gallons)
174,196
195,328
Distillers grains (equivalent dried tons)
362
417
Ultra-High Protein (tons)
54
68
Renewable corn oil (pounds)
58,476
64,263
Corn consumed (bushels)
58,802
66,264
Agribusiness and energy services(1)
Ethanol (gallons) 176,145 255,721
(1) includes gallons from the ethanol production segment.
&LZ Green Plains 7
CONSOLIDATED CRUSH MARGIN
(In millions)
For the three months ended March 31, 2026 2025
Ethanol production
Operating income (loss) (1)
$ 39.4
$ (39.5)
Depreciation and amortization
23.2
21.0
Adjusted ethanol production operating income (loss)
$ 62.6
$ (18.5)
Intercompany fees and nonethanol operating activities, net (2)
2.0
3.8
Consolidated ethanol crush margin
$ 64.6
$ (14.7)
Operating income (loss) for ethanol production includes an inventory lower of cost or net realizable value adjustment of $2.5 million for the three months ended March 31, 2025.
Includes certain nonrecurring decommissioning costs and nonethanol operating activities of ($1.7) million and ($0.4) million for the three months ended March 31, 2026 and 2025, respectively.
8
(In millions, except per share amounts)
2026
2025
$
445.8
$
601.5
401.0
663.8
$
44.8
$
(62.3)
(8.4)
(9.4)
(2.9)
(0.1)
-
(0.8)
$
33.5
$
(72.6)
0.6
0.3
$
32.9
$
(72.9)
$
0.48
$
(1.14)
$
0.42
$
(1.14)
For the three months ended March 31,
Revenues
Costs and expenses Operating income (loss) Other expense
Income tax benefit (expense)
Loss from equity method investees, net of income taxes Net income (loss)
Net income attribution to noncontrolling interests Net income (loss) attribution to Green Plains
Net income (loss) attribution to Green Plains per share - basic Net income (loss) attribution to Green Plains per share - diluted
%Z Green Plains 9
(In millions)
For the three months ended March 31,
2026
2025
Net income (loss)
$ 33.5
$ (72.6)
Interest expense
11.5
8.9
Income tax expense (benefit), net of equity method income taxes
2.9
(0.2)
Depreciation and amortization (1)
23.6
22.4
EBITDA
$ 71.5
$ (41.5)
Restructuring costs
-
16.6
Proportional share of EBITDA adjustments to equity method investees
-
0.7
Adjusted EBITDA
$ 71.5
$ (24.2)
(1) Excludes amortization of operating lease right-of-use assets and amortization of debt issuance costs.
@E Green Plains 10
Disclaimer
Green Plains Inc. published this content on May 07, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 07, 2026 at 12:57 UTC.