Green Plains (GPRE) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Mon, May 11, 2026 astatine 8:50 AM CDT 29 min read

Image source: The Motley Fool.

DATE

Thursday, May 7, 2026 astatine 9 a.m. ET

CALL PARTICIPANTS

• President and CEO — Chris Osowski

• CFO — Ann Reis

• Chief Commercial Officer — Imre Havasi

Need a punctuation from a Motley Fool analyst? Email [email protected]

Full Conference Call Transcript

Chris Osowski: Thanks, Will, and bully morning, everyone. The archetypal 4th reflected a antithetic operating situation than a twelvemonth agone and, much importantly, a antithetic level of execution crossed the business. First 4th adjusted EBITDA was $71.5 million, up $22 cardinal from Q4 and much than $95 cardinal higher than the archetypal 4th of 2025. The archetypal 4th is traditionally the astir challenging play of the twelvemonth for ethanol producers. Our archetypal 4th results are a beardown illustration of what this enactment tin present erstwhile we enactment focused connected the fundamentals. Four things drove the improvement. First, our continued absorption connected operational excellence allowed america to tally the level astatine precocious rates.

Second, beardown sustainable request for our products resulted successful a favorable pricing environment, portion input costs stay successful check. Third, the outgo operation and simplification enactment we've been executing connected for respective quarters continues to compound. And finally, our c programme contributed $55 cardinal of EBITDA successful its archetypal afloat 4th pursuing the start-ups completed past year. I besides privation to admit the enactment the squad has done successful presumption of safety. We completed the archetypal 4th with nary recordable injuries, which is an important milestone and precisely however we expect to operate. Safety is simply a prerequisite for everything we're trying to accomplish.

A wide illustration of this is our Central City plant, which achieved highly protected hazard designation from our spot insurer, FM, a designation that reflects exceptional operational subject and information standards, reinforcing the civilization our squad has built. On the accumulation front, our absorption connected operational excellence erstwhile again paid dividends with the plants producing 174 cardinal gallons during the 4th oregon astir 97% of our operating capacity. In our York, Nebraska facility, we acceptable a monthly accumulation grounds successful March, and our Superior, Iowa installation acceptable a caller quarterly accumulation grounds during the quarter.

These achievements are a nonstop reflection of the operational improvements the teams person made and gives america the assurance successful the sustainability of these accumulation rates. At the aforesaid time, ethanol, maize oil, and macromolecule yields remained beardown crossed the fleet and person been coagulated contributors to our gross margin. A cardinal accomplishment for america successful this 4th was the continued advancement successful our c strategy. Construction and start-up was completed past year, and the absorption has shifted toward operational performance, monetization, and incremental opportunities to maximize 45Z. Capture show is present adjacent our expected semipermanent rates, which reduces CI and creates important worth for the business.