Green Plains reports Q2 EPS ($1.09) with items, consensus (35c)

Reports Q2 revenue $552.8M, consensus $661.22M. Q2 results include $44.9M in non-cash charges primarily related to the sale of non-core assets and an equity method investment, as well as impairments of equipment and assets held for sale. The company also incurred $2.5M in restructuring costs related to its ongoing transformation initiatives. “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 99% utilization across the operating platform, demonstrating the success of the structural improvements made available by our operational excellence initiatives. With the cost reductions implemented during the first half of the year, we are on pace to exceed the $50M in annualized savings target. This new expense base positions us to exit the year – and enter 2026 – as a leaner, more agile company. Our improved cost efficiency enables stronger earnings leverage from higher ethanol margins, firming corn oil prices, growing export demand, and a constructive corn crop outlook. With construction of our carbon capture project nearing completion, we’re well positioned to drive more dollars to the bottom line in the second half and beyond.”