Green Plains Reports Second Quarter 2025 Financial Results
Results for the Second Quarter of 2025 and Future Outlook:
-
EPS of
$(1.09) $44.9 million $(0.38) - Carbon capture infrastructure equipment delivered and construction progressing, keeping the project on track for start-up early in the fourth quarter of 2025
- Decarbonization strategy anticipated to exceed prior guidance with additional opportunities available
-
Delivered benefits from the transition of ethanol marketing to Eco-Energy, LLC including greater than
$50 million -
Achieved strong utilization in the quarter from the nine operating ethanol plants of
99% -
Extended the maturity on its
$127.5 million - Executing disciplined risk management strategy to lock in favorable margins and positive cash flow for the third quarter
“We executed several key initiatives this quarter to sustain reliable, safe operations, improve efficiencies and enhance our operating performance by rigorous management of our most critical metrics,” said Michelle Mapes, Interim Principal Executive Officer. “By exiting non-core assets and activities and focusing on our platform, we’ve streamlined the business and sharpened execution. Our team delivered strong results with
“Recent favorable federal government policy decisions have reinforced our strategy to produce low-CI feedstocks and fuels,” added Mapes. “Demand for our low-CI corn oil, a preferred feedstock into renewable diesel, remains strong. Construction of the carbon compression infrastructure at our
“We took meaningful steps during the quarter to improve our financial position, including reducing working capital investments with our Eco-Energy marketing arrangement, monetizing non-core assets, lowering expenses, and finalizing financing agreements to align with our strategic goals,” added Phil Boggs, Chief Financial Officer. “Extending the maturity of our near-term debt enhances flexibility as we work toward the execution of our decarbonization initiatives. We remain focused on operating safely, driving efficiency, managing costs, and strengthening our balance sheet to position the company for sustained financial performance.”
Highlights and Recent Developments
-
Completed the sale of our
50% investment in GP Turnkey Tharaldson LLC as of June 30, 2025, for$25 million -
On August 10, 2025, the company executed an amendment to extend the maturity of its
$127.5 million
Results of Operations
Green Plains’ ethanol production segment sold 193.6 million gallons of ethanol during the second quarter of 2025, compared with 208.5 million gallons for the same period in 2024. The consolidated ethanol crush margin was
Consolidated revenues decreased
Net loss attributable to Green Plains increased
Segment Information
The company reports the financial and operating performance for the following two operating segments: (1) ethanol production, which includes the production, storage and transportation of ethanol, distillers grains, Ultra-High Protein and renewable corn oil and (2) agribusiness and energy services, which includes grain handling and storage, commodity marketing and merchant trading for company-produced and third-party ethanol, distillers grains, Ultra-High Protein, renewable corn oil, natural gas and other commodities.
GREEN PLAINS INC. SEGMENT OPERATIONS (unaudited, in thousands) |
|||||||||||||||||||
|
|||||||||||||||||||
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||||||
|
2025 |
|
|
|
2024 |
|
|
% Var. |
|
|
2025 |
|
|
|
2024 |
|
|
% Var. |
|
Revenues |
|
|
|
|
|
|
|
|
|
||||||||||
Ethanol production |
$ |
527,153 |
|
|
$ |
525,443 |
|
|
|
|
$ |
1,024,925 |
|
|
$ |
1,031,102 |
|
|
(0.6)% |
Agribusiness and energy services |
|
31,531 |
|
|
|
100,949 |
|
|
(68.8) |
|
|
141,360 |
|
|
|
199,945 |
|
|
(29.3) |
Intersegment eliminations |
|
(5,855 |
) |
|
|
(7,567 |
) |
|
(22.6) |
|
|
(11,941 |
) |
|
|
(15,008 |
) |
|
(20.4) |
$ |
552,829 |
|
|
$ |
618,825 |
|
|
(10.7)% |
|
$ |
1,154,344 |
|
|
$ |
1,216,039 |
|
|
(5.1)% |
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Gross margin |
|
|
|
|
|
|
|
|
|
|
|
||||||||
Ethanol production (1) (2) |
$ |
33,490 |
|
|
$ |
30,390 |
|
|
|
|
$ |
27,798 |
|
|
$ |
27,747 |
|
|
|
Agribusiness and energy services |
|
8,080 |
|
|
|
7,433 |
|
|
8.7 |
|
|
16,811 |
|
|
|
18,443 |
|
|
(8.8) |
|
$ |
41,570 |
|
|
$ |
37,823 |
|
|
|
|
$ |
44,609 |
|
|
$ |
46,190 |
|
|
(3.4)% |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|||||||||
Ethanol production |
$ |
22,918 |
|
|
$ |
20,544 |
|
|
|
|
$ |
43,953 |
|
|
$ |
41,078 |
|
|
|
Agribusiness and energy services (3) |
|
3,860 |
|
|
|
497 |
|
|
* |
|
|
4,458 |
|
|
|
1,002 |
|
|
* |
Corporate activities |
|
782 |
|
|
|
543 |
|
|
44.0 |
|
|
1,536 |
|
|
|
991 |
|
|
55.0 |
|
$ |
27,560 |
|
|
$ |
21,584 |
|
|
|
|
$ |
49,947 |
|
|
$ |
43,071 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Operating income (loss) |
|
|
|
|
|
|
|
|
|
|
|
||||||||
Ethanol production (1) (2) (4) |
$ |
(12,218 |
) |
|
$ |
(2,213 |
) |
|
* |
|
$ |
(51,768 |
) |
|
$ |
(35,866 |
) |
|
|
Agribusiness and energy services (3) |
|
849 |
|
|
|
2,166 |
|
|
(60.8) |
|
|
3,282 |
|
|
|
8,170 |
|
|
(59.8) |
Corporate activities (5) (6) |
|
(16,994 |
) |
|
|
(17,664 |
) |
|
(3.8) |
|
|
(42,137 |
) |
|
|
(34,904 |
) |
|
20.7 |
|
$ |
(28,363 |
) |
|
$ |
(17,711 |
) |
|
|
|
$ |
(90,623 |
) |
|
$ |
(62,600 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Adjusted EBITDA |
|
|
|
|
|
|
|
|
|
|
|
||||||||
Ethanol production (1) (2) (4) |
$ |
8,992 |
|
|
$ |
17,952 |
|
|
(49.9)% |
|
$ |
(10,424 |
) |
|
$ |
4,331 |
|
* |
|
Agribusiness and energy services |
|
5,028 |
|
|
|
3,045 |
|
|
65.1 |
|
|
8,184 |
|
|
|
10,101 |
|
(19.0)% |
|
Corporate activities (7) |
|
(42,903 |
) |
|
|
(16,230 |
) |
|
164.3 |
|
|
(68,149 |
) |
|
|
(31,185 |
) |
118.5 |
|
EBITDA |
|
(28,883 |
) |
|
|
4,767 |
|
|
* |
|
|
(70,389 |
) |
|
|
(16,753 |
) |
|
* |
Restructuring costs |
|
2,520 |
|
|
|
— |
|
|
* |
|
|
19,106 |
|
|
|
— |
|
* |
|
Loss on sale of assets |
|
4,044 |
|
|
|
— |
|
|
* |
|
|
4,044 |
|
|
|
— |
|
* |
|
Impairment of assets held for sale |
|
10,724 |
|
|
|
— |
|
|
* |
|
|
10,724 |
|
|
|
— |
* |
||
Loss on sale of equity method investment |
|
26,987 |
|
|
|
— |
|
* |
|
|
26,987 |
|
|
|
— |
|
|
* |
|
Proportional share of EBITDA adjustments to equity method investees |
|
1,050 |
|
|
|
271 |
|
|
* |
|
|
1,828 |
|
|
|
316 |
|
|
* |
$ |
16,442 |
|
|
$ |
5,038 |
|
* |
|
$ |
(7,700 |
) |
|
$ |
(16,437 |
) |
(53.2)% |
|||
|
|||||||||||||||||||
(1) Ethanol production includes an inventory lower of cost or net realizable value adjustment of |
|||||||||||||||||||
(2) Ethanol production includes margins from a one-time sale of accumulated RINs of |
|||||||||||||||||||
(3) Depreciation and amortization for agribusiness and energy services includes impairment of property and equipment of |
|||||||||||||||||||
(4) Ethanol production includes impairment of assets held for sale of |
|||||||||||||||||||
(5) Corporate activities includes |
|||||||||||||||||||
(6) Corporate activities include a pretax loss on sale of assets of |
|||||||||||||||||||
(7) Corporate activities include a pretax loss on sale of assets of |
|||||||||||||||||||
* Percentage variances not considered meaningful |
|||||||||||||||||||
GREEN PLAINS INC. SELECTED OPERATING DATA (unaudited, in thousands) |
|||||||||||
|
|||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||
2025 |
|
2024 |
|
% Var. |
|
2025 |
|
2024 |
|
% Var. |
|
|
|
|
|
|
|
|
|
|
|
|
|
Ethanol production |
|
|
|
|
|
|
|
|
|
|
|
Ethanol (gallons) |
193,571 |
|
208,483 |
|
(7.2)% |
|
388,899 |
|
416,387 |
|
(6.6)% |
Distillers grains (equivalent dried tons) |
413 |
|
463 |
|
(10.8) |
|
830 |
|
932 |
|
(10.9) |
Ultra-High Protein (tons) |
66 |
|
65 |
|
1.5 |
|
134 |
|
125 |
|
7.2 |
Renewable corn oil (pounds) |
65,231 |
|
73,630 |
|
(11.4) |
|
129,494 |
|
140,351 |
|
(7.7) |
Corn consumed (bushels) |
65,312 |
|
71,819 |
|
(9.1) |
|
131,576 |
143,093 |
|
(8.0) |
|
|
|
|
|
|
|
||||||
Agribusiness and energy services (1) |
|
|
|
|
|
|
|
|
|
|
|
Ethanol (gallons) |
225,703 |
|
261,461 |
|
(13.7) |
|
481,424 |
|
518,732 |
|
(7.2) |
|
|||||||||||
(1) Includes gallons from the ethanol production segment. |
|||||||||||
GREEN PLAINS INC. CONSOLIDATED CRUSH MARGIN (unaudited, in thousands) |
|||||||
|
|||||||
|
Three Months Ended June 30, |
||||||
|
2025 |
|
|
2024 |
|
||
|
|
|
|||||
Ethanol production operating loss (1) |
$ |
(12,218 |
) |
|
$ |
(2,213 |
) |
Depreciation and amortization |
|
22,918 |
|
|
|
20,544 |
|
Impairment of assets held for sale |
|
10,724 |
|
|
|
— |
|
Adjusted ethanol production operating income |
|
21,424 |
|
|
|
18,331 |
|
Intercompany fees and nonethanol operating activities, net (2) |
|
4,862 |
|
|
|
4,327 |
|
Consolidated ethanol crush margin |
$ |
26,286 |
|
|
$ |
22,658 |
|
|
|||||||
(1) Ethanol production includes margins from a one-time sale of accumulated RINs of |
|||||||
(2) Includes |
|||||||
Liquidity and Capital Resources
As of June 30, 2025, Green Plains had
Conference Call Information
On August 11, 2025, Green Plains Inc. will host a conference call at 9 a.m. Eastern time (8 a.m. Central time) to discuss second quarter 2025 operating results. Domestic and international participants can access the conference call by dialing 888.210.4215 and 646.960.0269, respectively, and referencing conference ID 5027523. Participants are advised to call at least 10 minutes prior to the start time. Alternatively, the conference call and presentation will be accessible on Green Plains’ website https://investor.gpreinc.com/events-and-presentations.
Non-GAAP Financial Measures
Management uses EBITDA, adjusted EBITDA, segment EBITDA and consolidated ethanol crush margins to measure the company’s financial performance and to internally manage its businesses. EBITDA is defined as earnings before interest expense, income taxes, depreciation and amortization excluding the change in right-of-use assets and debt issuance costs. Adjusted EBITDA includes adjustments related to restructuring costs, loss on sale of assets, impairment of assets held for sale and equity method investment and our proportional share of EBITDA adjustments of our equity method investees. Management believes these measures provide useful information to investors for comparison with peer and other companies. These measures should not be considered alternatives to net income or segment operating income, which are determined in accordance with
About Green Plains Inc.
Green Plains Inc. (NASDAQ:GPRE) is a leading biorefining company focused on the development and utilization of fermentation, agricultural and biological technologies in the processing of annually renewable crops into sustainable value-added ingredients. This includes the production of cleaner low carbon biofuels and renewable feedstocks for advanced biofuels. Green Plains is an innovative producer of Sequence™ and novel ingredients for animal and aquaculture diets to help satisfy a growing global appetite for sustainable protein. For more information, visit www.gpreinc.com.
Forward-Looking Statements
All statements in this press release (and oral statements made regarding the subjects of this communication), including those that express a belief, expectation or intention, may be considered forward-looking statements (as defined in Section 21E of the Securities Exchange Act, as amended, and Section 27A of the Securities Act of 1933, as amended) that involve risks and uncertainties that could cause actual results to differ materially from projected results. Without limiting the generality of the foregoing, forward-looking statements contained in this communication include statements relying on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of the company, which could cause actual results to differ materially from such statements. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include, but are not limited to the expected future growth, dividends and distributions; and plans and objectives of management for future operations. Forward-looking statements may be identified by words such as “believe,” “intend,” “expect,” “may,” “should,” “will,” “anticipate,” “could,” “estimate,” “plan,” “predict,” “project” and variations of these words or similar expressions (or the negative versions of such words or expressions). While the company believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. Among the factors that could cause results to differ materially from those indicated by such forward-looking statements are: the failure to realize the anticipated results from the new products being developed; the failure to realize the anticipated costs savings or other benefits of the merger; local, regional and national economic conditions and the impact they may have on the company and its customers; disruption caused by health epidemics, such as the COVID-19 outbreak; conditions in the ethanol and biofuels industry, including a sustained decrease in the level of supply or demand for ethanol and biofuels or a sustained decrease in the price of ethanol or biofuels; competition in the ethanol industry and other industries in which we operate; commodity market risks, including those that may result from weather conditions; the financial condition of the company’s customers; any non-performance by customers of their contractual obligations; changes in safety, health, environmental and other governmental policy and regulation, including changes to tax laws such as the One Big Beautiful Bill Act; risks related to acquisition and disposition activities and achieving anticipated results; risks associated with merchant trading; risks related to our equity method investees; the results of any reviews, investigations or other proceedings by government authorities; and the performance of the company.
The foregoing list of factors is not exhaustive. The forward-looking statements in this press release speak only as of the date they are made and the company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities and other applicable laws. We have based these forward-looking statements on our current expectations and assumptions about future events. While the company’s management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the company’s control. These risks, contingencies and uncertainties relate to, among other matters, the risks and uncertainties set forth in the “Risk Factors” section of the company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission (the “SEC”), and any subsequent reports filed by the company with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.
GREEN PLAINS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) |
|||||
June 30,
|
|
December 31,
|
|||
|
(unaudited) |
|
|
||
ASSETS |
|||||
Current assets |
|
|
|
||
Cash and cash equivalents |
$ |
108,624 |
|
$ |
173,041 |
Restricted cash |
|
44,096 |
|
|
36,354 |
Accounts receivable, net |
|
78,473 |
|
|
94,901 |
Inventories |
|
156,411 |
|
|
227,444 |
Other current assets |
|
48,602 |
|
|
37,292 |
Total current assets |
|
436,206 |
|
|
569,032 |
Property and equipment, net |
|
1,066,983 |
|
|
1,042,460 |
Operating lease right-of-use assets |
|
63,235 |
|
|
72,161 |
Other assets |
|
46,092 |
|
|
98,521 |
Total assets |
$ |
1,612,516 |
|
$ |
1,782,174 |
|
|
|
|
||
LIABILITIES AND STOCKHOLDERS' EQUITY |
|||||
Current liabilities |
|
|
|
||
Accounts payable |
$ |
98,836 |
|
$ |
154,817 |
Accrued and other liabilities |
|
44,412 |
|
|
53,712 |
Derivative financial instruments |
|
11,312 |
|
|
9,500 |
Operating lease current liabilities |
|
23,101 |
|
|
24,711 |
Product financing arrangement |
|
37,146 |
|
|
— |
Short-term notes payable and other borrowings |
|
80,064 |
|
|
140,829 |
Current maturities of long-term debt |
|
2,125 |
|
|
2,118 |
Total current liabilities |
|
296,996 |
|
|
385,687 |
Long-term debt |
|
426,002 |
|
|
432,460 |
Operating lease long-term liabilities |
|
41,872 |
|
|
49,190 |
Carbon equipment liabilities |
|
82,008 |
|
|
17,918 |
Other liabilities |
|
25,206 |
|
|
22,382 |
Total liabilities |
|
872,084 |
|
|
907,637 |
|
|
|
|
||
Stockholders' equity |
|
|
|
||
Total Green Plains stockholders' equity |
|
735,180 |
|
|
865,215 |
Noncontrolling interests |
|
5,252 |
|
|
9,322 |
Total stockholders' equity |
|
740,432 |
|
|
874,537 |
Total liabilities and stockholders' equity |
$ |
1,612,516 |
|
$ |
1,782,174 |
GREEN PLAINS INC. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited, in thousands except per share amounts) |
|||||||||||||||
|
|||||||||||||||
Three Months Ended
|
Six Months Ended
|
||||||||||||||
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
|
|
|
|
|
|
|
|||||||||
Revenues |
$ |
552,829 |
|
|
$ |
618,825 |
|
|
$ |
1,154,344 |
|
|
$ |
1,216,039 |
|
|
|
|
|
|
|
|
|||||||||
Costs and expenses |
|
|
|
|
|
|
|
||||||||
Cost of goods sold (excluding depreciation and amortization expenses reflected below) |
|
511,259 |
|
|
|
581,002 |
|
|
|
1,109,735 |
|
|
|
1,169,849 |
|
Selling, general and administrative expenses |
|
27,605 |
|
|
|
33,950 |
|
|
|
70,517 |
|
|
|
65,719 |
|
Loss on sale of assets |
|
4,044 |
|
|
|
— |
|
|
|
4,044 |
|
|
|
— |
|
Depreciation and amortization expenses |
|
27,560 |
|
|
|
21,584 |
|
|
|
49,947 |
|
|
|
43,071 |
|
Impairment of assets held for sale |
|
10,724 |
|
|
|
— |
|
|
|
10,724 |
|
|
|
— |
|
Total costs and expenses |
|
581,192 |
|
|
|
636,536 |
|
|
|
1,244,967 |
|
|
|
1,278,639 |
|
Operating loss |
|
(28,363 |
) |
|
|
(17,711 |
) |
|
|
(90,623 |
) |
|
|
(62,600 |
) |
|
|
|
|
|
|
|
|||||||||
Other income (expense) |
|
|
|
|
|
|
|
||||||||
Interest income |
|
634 |
|
|
|
1,490 |
|
|
|
1,637 |
|
|
|
4,000 |
|
Interest expense |
|
(13,899 |
) |
|
|
(7,494 |
) |
|
|
(22,812 |
) |
|
|
(15,280 |
) |
Other, net |
|
(39 |
) |
|
|
345 |
|
|
|
(1,554 |
) |
|
|
794 |
|
Total other income (expense) |
|
(13,304 |
) |
|
|
(5,659 |
) |
|
|
(22,729 |
) |
|
|
(10,486 |
) |
Loss before income taxes and loss from equity method investees |
|
(41,667 |
) |
|
|
(23,370 |
) |
|
|
(113,352 |
) |
|
|
(73,086 |
) |
Income tax benefit (expense) |
|
(2,294 |
) |
|
|
273 |
|
|
|
(2,400 |
) |
|
|
(56 |
) |
Loss from equity method investees, net of income taxes |
|
(28,266 |
) |
|
|
(941 |
) |
|
|
(29,116 |
) |
|
|
(2,018 |
) |
Net loss |
|
(72,227 |
) |
|
|
(24,038 |
) |
|
|
(144,868 |
) |
|
|
(75,160 |
) |
Net income attributable to noncontrolling interests |
|
11 |
|
|
|
312 |
|
|
|
276 |
|
|
|
602 |
|
Net loss attributable to Green Plains |
$ |
(72,238 |
) |
|
$ |
(24,350 |
) |
|
$ |
(145,144 |
) |
|
$ |
(75,762 |
) |
|
|
|
|
|
|
|
|
||||||||
Earnings per share |
|
|
|
|
|
|
|
||||||||
Net loss attributable to Green Plains - basic and diluted |
$ |
(1.09 |
) |
|
$ |
(0.38 |
) |
|
$ |
(2.22 |
) |
|
$ |
(1.19 |
) |
|
|
|
|
|
|
|
|
||||||||
Weighted average shares outstanding |
|
|
|
|
|
|
|
||||||||
Basic and diluted |
|
66,491 |
|
|
|
63,933 |
|
|
|
65,287 |
|
|
|
63,637 |
|
GREEN PLAINS INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited, in thousands) |
|||||||
|
|||||||
Six Months Ended June 30, |
|||||||
|
2025 |
|
|
|
2024 |
|
|
Cash flows from operating activities |
|
|
|||||
Net loss |
$ |
(144,868 |
) |
|
$ |
(75,160 |
) |
Noncash operating adjustments |
|
|
|||||
Depreciation and amortization |
|
49,947 |
|
|
|
43,071 |
|
Loss on sale of assets |
|
4,044 |
|
|
|
— |
|
Impairment of assets held for sale |
|
10,724 |
|
|
|
— |
|
Inventory lower of cost or net realizable value adjustment |
|
2,255 |
|
|
|
— |
|
Stock-based compensation |
|
11,123 |
|
|
|
6,591 |
|
Loss from equity method investees, net of income taxes |
|
29,116 |
|
|
|
2,018 |
|
Other |
|
8,830 |
|
|
|
2,627 |
|
Net change in working capital |
|
32,583 |
|
|
|
(44,864 |
) |
Net cash provided by (used in) operating activities |
|
3,754 |
|
|
|
(65,717 |
) |
|
|
|
|
||||
Cash flows from investing activities |
|
|
|
||||
Purchases of property and equipment, net |
|
(27,853 |
) |
|
|
(39,484 |
) |
Proceeds from the sale of assets |
|
421 |
|
|
|
— |
|
Investment in equity method investees, net |
|
(4,909 |
) |
|
|
(16,023 |
) |
Net cash used in investing activities |
|
(32,341 |
) |
|
|
(55,507 |
) |
|
|
|
|
||||
Cash flows from financing activities |
|
|
|
||||
Net payments - long term debt |
|
(962 |
) |
|
|
(7,849 |
) |
Net proceeds (payments) - short-term borrowings |
|
(60,962 |
) |
|
|
18,199 |
|
Net proceeds from product financing arrangement |
|
37,146 |
|
|
|
— |
|
Payments on extinguishment of non-controlling interest |
|
— |
|
|
|
(29,196 |
) |
Payments of transaction costs |
|
— |
|
|
|
(5,951 |
) |
Other |
|
(3,310 |
) |
|
|
(7,647 |
) |
Net cash used in financing activities |
|
(28,088 |
) |
|
|
(32,444 |
) |
|
|
|
|
||||
Net change in cash and cash equivalents, and restricted cash |
|
(56,675 |
) |
|
|
(153,668 |
) |
Cash and cash equivalents, and restricted cash, beginning of period |
|
209,395 |
|
|
|
378,762 |
|
Cash and cash equivalents, and restricted cash, end of period |
$ |
152,720 |
|
|
$ |
225,094 |
|
|
|
||||||
|
|
||||||
Reconciliation of total cash and cash equivalents, and restricted cash |
|
||||||
Cash and cash equivalents |
$ |
108,624 |
|
|
$ |
195,554 |
|
Restricted cash |
|
44,096 |
|
|
|
29,540 |
|
Total cash and cash equivalents, and restricted cash |
$ |
152,720 |
|
|
$ |
225,094 |
|
|
|||||||||||||||
GREEN PLAINS INC. RECONCILIATIONS TO NON-GAAP FINANCIAL MEASURES (unaudited, in thousands) |
|||||||||||||||
|
|||||||||||||||
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|||||||||||||
|
2025 |
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
||
Net loss |
$ |
(72,227 |
) |
|
$ |
(24,038 |
) |
|
$ |
(144,868 |
) |
|
$ |
(75,160 |
) |
Interest expense |
|
13,899 |
|
|
|
7,494 |
|
|
|
22,812 |
|
|
|
15,280 |
|
Income tax expense (benefit), net of equity method income tax benefit |
|
1,885 |
|
|
|
(273 |
) |
|
|
1,720 |
|
|
|
56 |
|
Depreciation and amortization (1) |
|
27,560 |
|
|
|
21,584 |
|
|
|
49,947 |
|
|
|
43,071 |
|
EBITDA |
|
(28,883 |
) |
|
|
4,767 |
|
|
|
(70,389 |
) |
|
|
(16,753 |
) |
|
|
|
|
|
|
|
|||||||||
Restructuring costs |
|
2,520 |
|
|
|
— |
|
|
|
19,106 |
|
|
|
— |
|
Loss on sale of assets |
|
4,044 |
|
|
|
— |
|
|
|
4,044 |
|
|
|
— |
|
Impairment of assets held for sale |
|
10,724 |
|
|
|
— |
|
|
|
10,724 |
|
|
|
— |
|
Loss on sale of equity method investment |
|
26,987 |
|
|
|
— |
|
|
|
26,987 |
|
|
|
— |
|
Proportional share of EBITDA adjustments to equity method investees |
|
1,050 |
|
|
|
271 |
|
|
|
1,828 |
|
|
|
316 |
|
Adjusted EBITDA |
$ |
16,442 |
|
|
$ |
5,038 |
|
|
$ |
(7,700 |
) |
|
$ |
(16,437 |
) |
|
|||||||||||||||
(1) Excludes amortization of operating lease right-of-use assets and amortization of debt issuance costs. |
|||||||||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20250811294291/en/
Green Plains Inc. Contact
Investor Relations | 402.884.8700 | investor@gpreinc.com
Source: Green Plains Inc.
