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Jun 30, 2024
Green Plains Q2 2024 Earnings Report
Reported a net loss and an improved EBITDA driven by stronger ethanol production segment results.
Key Takeaways
Green Plains Inc. reported a net loss attributable to the company of $24.4 million, or $(0.38) per basic and diluted share, compared to a net loss of $52.6 million, or ($0.89) per diluted share, for the same period in 2023. Revenues were $618.8 million, and EBITDA was $4.8 million compared to ($15.0) million for the same period in the prior year.
Net loss attributable to Green Plains was $24.4 million, or EPS of $(0.38) per basic and diluted share.
EBITDA was $4.8 million, a $19.7 million improvement compared to the prior year.
The company achieved record platform renewable corn oil yields and Ultra-High Protein platform yields.
A definitive agreement was entered into to sell the unit train terminal in Birmingham, Ala.
Green Plains
Green Plains
Green Plains Revenue by Segment
Revenue by Segment
Ethanol Production Revenue
CapyFin.comAgribusiness and Energy Services Revenue
CapyFin.com Forward Guidance
Green Plains anticipates returning to profitability for the third quarter based on current markets across their products and setting up a stronger second half of the year overall.
Positive Outlook
- Margins began to improve heading into the third quarter.
- Expect to return to profitability for the quarter based on current markets across our products.
- Setting up a stronger second half of the year overall.
- Forward ethanol production margins and corn oil pricing improving.
- Strong customer demand for our high protein products.
Challenges Ahead
- Ramp-up of Clean Sugar Technology facility has been slower than expected.
- Second quarter started with continued weakness.
- Strategic review process is ongoing with no assurance of a transaction or any other outcome.
- Carbon capture equipment has been ordered, with construction anticipated to begin in the next several months with a second half of 2025 start.
- The company reported a net loss attributable to Green Plains of $24.4 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income