Green Plains Swings to $67M Q2 Profit on $93M Adjusted EBITDA, Fueled by Clean Fuel Tax Credits
GPRE has more than doubled off its 52-week low of $7.075.
Summary
Green Plains reported Q2 2026 net income of $67.1 million ($0.83/share) versus a year-ago loss, driven by $58.7 million in clean fuel tax credits and operational improvements. Adjusted EBITDA surged to $93.3 million.
Key Events · Earnings and Guidance · GPRE
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Q2 Net Income Swings to $67.1M
Net income attributable to Green Plains was $67.1 million, or $0.83 per diluted share, compared to a net loss of $72.2 million ($1.09 loss per share) in Q2 2025.
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45Z Tax Credits Boost Margins
The company recognized $58.7 million in Section 45Z clean fuel production tax credits net of discounts and other costs, recorded as a reduction of cost of goods sold, driving a consolidated ethanol crush margin of $95.1 million.
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Adjusted EBITDA Reaches $93.3M
Adjusted EBITDA was $93.3 million, inclusive of $34.6 million from the base business and $58.7 million in 45Z tax credit value, up from $16.4 million in the prior-year quarter.
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Operating Cash Flow Strengthens
Cash flow from operating activities was $86.3 million for Q2 2026, reflecting improved earnings and working capital management.
Analysis · GPRE · Industrial Applications And Services
A sharp financial turnaround marked Green Plains' Q2 2026, with net income reaching $67.1 million compared to a $72.2 million loss a year ago. The swing was powered by $58.7 million in Section 45Z clean fuel production tax credits, which directly reduced cost of goods sold, and a 21% cut in SG&A expenses. Adjusted EBITDA hit $93.3 million, up from $16.4 million in Q2 2025. Operating cash flow came in at $86.3 million, strengthening the company's liquidity position. Management emphasized debt reduction and balance sheet resilience as priorities. The results validate the earnings potential of Green Plains' low-carbon platform and mark a significant step toward sustained profitability.
At the time of this filing, GPRE was trading at $16.17 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $7.08 to $19.65. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.