FALSE000130940200013094022023-10-312023-10-31

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
FORM 8-K
_________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):  October 31, 2023
_______________________________
GREEN PLAINS INC.
(Exact name of registrant as specified in its charter)
_______________________________
Iowa001-3292484-1652107
(State or Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification No.)
1811 Aksarben Drive
Omaha, Nebraska 68106
(Address of Principal Executive Offices) (Zip Code)
(402) 884-8700
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.001 per shareGPREThe Nasdaq Stock Market LLC
_______________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02. Results of Operations and Financial Condition.
Green Plains Inc. issued a press release announcing its financial results for the three and nine months ended September 30, 2023. A copy of this press release is attached as Exhibit 99.1.
The information in this current report on Form 8-K, including Exhibit 99.1, is “furnished,” not “filed,” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not subject to liability of that section nor deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, before or after this date and regardless of any general incorporation language in the filing, unless explicitly incorporated by reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed as part of this report.
Exhibit No.Description of Exhibit
104Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Green Plains Inc.
Date: October 31, 2023By:
/s/ James E. Stark
James E. Stark
Chief Financial Officer
(Principal Financial Officer)

image.jpg
Exhibit 99.1


FOR IMMEDIATE RELEASE
Green Plains Reports Third Quarter 2023 Financial Results

Results for the Third Quarter of 2023 and Future Outlook:
•Net income attributable to Green Plains of $22.3 million, or EPS of $0.35 per diluted share
•EBITDA of $52.0 million
•Plant utilization rate of 93.9%, returning platform to consistent operations
•Outlook for the fourth quarter of 2023 remains strong based on solid production operating rates, industry fundamentals and expanding Ultra-High Protein sales
•Completed successful 60% protein production runs with growing global customer interest for future sales

OMAHA, Neb., Oct 31, 2023 (BUSINESS WIRE) - Green Plains Inc. (NASDAQ:GPRE) (“Green Plains” or the “company”) today announced financial results for the third quarter of 2023. Net income attributable to the company was $22.3 million, or $0.35 per diluted share, compared to net loss attributable to the company of $73.5 million, or ($1.27) per diluted share, for the same period in 2022. Revenues were $892.8 million for the third quarter of 2023 compared with $955.0 million for the same period last year. EBITDA was $52.0 million compared with ($35.6) million for the same period in the prior year.

“During the quarter we achieved strong operating results,” said Todd Becker, President and Chief Executive Officer. “Our platform utilization was 93.9%, demonstrating our capabilities of maximizing our core operations and new technologies. Our fourth quarter outlook remains strong as margins across all of our products look favorable based on current market conditions.”

“We achieved new records in production volume and sales for our Ultra-High Protein as our capacity returned to full rate in July with Wood River coming back online, and anticipate the fourth quarter will exceed these levels,” added Becker. “We successfully executed full-scale production runs of 60% protein at one location during the quarter and have begun to ship product to customers globally into full commercial use and expect to expand in a significant way in all of our target markets in 2024.”

“We expect our first commercial-scale Clean Sugar Technology facility in Shenandoah, Iowa to be mechanically complete by the end of the year and begin commissioning in the first quarter of 2024,” added Becker. “Customer interest has been strong, and we look forward to demonstrating the true value of this initiative as we continue customer development.”

“In carbon, we have expanded and diversified our partnerships for carbon capture and storage and believe that our Nebraska plants will be at a significant early advantage beginning in 2025,” said Becker. “Our product portfolio has a significantly lower carbon intensity score than the market incumbents, from dextrose to renewable corn oil to Ultra-High Protein and we are seeing growing customer interest across the board, even before carbon capture begins. Our team continues to execute on our transformation while also focusing our efforts on maximizing production of our core portfolio to take full advantage of positive near-term fundamentals.”
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Highlights and Recent Developments
•On September 16, 2023, Green Plains and Green Plains Partners LP (“Green Plains Partners”) entered into a definitive merger agreement pursuant to which Green Plains will acquire all of the publicly held common units of Green Plains Partners not already owned by Green Plains and its affiliates, in exchange for a combination of Green Plains common stock and cash. Under the merger agreement, each outstanding common unit of Green Plains Partners that Green Plains and its affiliates do not already own will be converted into the right to receive 0.405 shares of Green Plains common stock and $2.00 in cash, plus an amount of cash equal to unpaid distributions from the end of the last quarter for which a quarterly distribution was made to the closing date, as determined in accordance with the merger agreement, without interest.

Results of Operations
Green Plains’ ethanol production segment sold 223.5 million gallons of ethanol during the third quarter of 2023, compared with 219.2 million gallons for the same period in 2022. The consolidated ethanol crush margin was $48.5 million for the third quarter of 2023, compared with ($20.5) million for the same period in 2022. The consolidated ethanol crush margin is the ethanol production segment’s operating income before depreciation and amortization, which includes renewable corn oil and Ultra-High Protein, plus intercompany storage, transportation, nonrecurring decommissioning costs, nonethanol operating activities and other fees, net of related expenses.

Consolidated revenues decreased $62.2 million for the three months ended September 30, 2023, compared with the same period in 2022, primarily due to lower weighted average selling prices on ethanol and distillers grains, as well as lower volumes sold on distillers grains, partially offset by higher volumes sold on ethanol and renewable corn oil, as well as higher weighted average selling prices on renewable corn oil within our ethanol production segment. Revenues were also lower within our agribusiness and energy services segment as a result of decreased ethanol and distillers grains trading volumes.

Net income attributable to Green Plains increased $95.8 million and EBITDA increased $87.5 million for the three months ended September 30, 2023, compared with the same period last year, primarily due to higher margins in our ethanol production segment and in our agribusiness and energy services segment. Interest expense was consistent for the three months ended September 30, 2023 compared with the same period in 2022. Income tax benefit was $7.8 million for the three months ended September 30, 2023 compared with income tax benefit of $1.9 million for the same period in 2022, primarily due to a decrease in the valuation allowance recorded against certain deferred tax assets for the three months ended September 30, 2023.

Segment Information
The company reports the financial and operating performance for the following three operating segments: (1) ethanol production, which includes the production of ethanol, distillers grains, Ultra-High Protein and renewable corn oil, (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, grain, natural gas and other commodities and (3) partnership, which includes fuel storage and transportation services. Intercompany fees charged to the ethanol production segment for storage and logistics services, grain procurement and product sales are included in the partnership and agribusiness and energy services segments and eliminated upon consolidation. Third-party costs of grain consumed and revenues from product sales are reported directly in the ethanol production segment.
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GREEN PLAINS INC.
SEGMENT OPERATIONS
(unaudited, in thousands)

Three Months Ended
September 30,		Nine Months Ended
September 30,
20232022% Var.20232022% Var.
Revenues
Ethanol production$773,367 $811,015 (4.6)%$2,195,600 $2,309,734 (4.9)%
Agribusiness and energy services125,081 149,762 (16.5)403,290 456,033 (11.6)
Partnership20,145 20,066 0.461,443 58,820 4.5
Intersegment eliminations(25,823)(25,866)(0.2)(76,982)(75,781)1.6
$892,770 $954,977 (6.5)%$2,583,351 $2,748,806 (6.0)%
Gross margin
Ethanol production$45,007 $(32,828)237.1%$19,347 $(490)*%
Agribusiness and energy services15,789 9,840 60.531,309 38,016 (17.6)
Partnership20,145 20,066 0.461,443 58,820 4.5
Intersegment eliminations530 1,042 (49.1)(143)1,780 (108.0)
$81,471 $(1,880)*%$111,956 $98,126 14.1%
Depreciation and amortization
Ethanol production$21,816 $21,555 1.2 %$67,179 $59,101 13.7 %
Agribusiness and energy services534 1,280 (58.3)1,883 2,214 (15.0)
Partnership780 1,194 (34.7)2,424 2,915 (16.8)
Corporate activities769 618 24.42,425 1,783 36.0
$23,899 $24,647 (3.0 %)$73,911 $66,013 12.0 %
Operating income (loss)
Ethanol production (1)
$11,973 $(64,121)118.7%$(77,759)$(87,773)(11.4)%
Agribusiness and energy services11,313 5,205 117.317,612 25,894 (32.0)
Partnership11,428 11,993 (4.7)34,744 35,906 (3.2)
Intersegment eliminations530 1,042 (49.1)(143)1,780 (108.0)
Corporate activities (2)
(14,070)(15,999)(12.1)(52,300)(51,748)1.1
$21,174 $(61,880)134.2%$(77,846)$(75,941)2.5%
Adjusted EBITDA
Ethanol production (1)
$37,815 $(42,471)189.0%$(6,201)$(517)*%
Agribusiness and energy services12,160 6,536 86.020,258 28,009 (27.7)
Partnership12,638 13,270 (4.8)38,382 39,275 (2.3)
Intersegment eliminations530 1,042 (49.1)(143)1,780 (108.0)
Corporate activities (2)
(11,165)(13,945)(19.9)(42,986)(47,553)(9.6)
EBITDA51,978 (35,568)246.19,310 20,994 (55.7)
Other income (3)
(3,440)— *(3,440)(27,712)(87.6)
Gain on sale of assets(5,651)— *(5,651)— *
Proportional share of EBITDA adjustments to equity method investees45 45 —135 135 —
$42,932 $(35,523)220.9%$354 $(6,583)105.4%

(1) Ethanol production includes an inventory lower of cost or net realizable value adjustment of $1.7 million for the three and nine months ended September 30, 2023 and $11.2 million for the three and nine months ended September 30, 2022.
(2) Corporate activities includes a $5.7 million pretax gain on sale of assets for the three and nine months ended September 30, 2023.
(3) Other income includes grants received from the USDA related to the Biofuel Producer Program of $3.4 million for the three and nine months ended September 30, 2023 and $27.7 million for the nine months ended September 30, 2022.

* Percentage variances not considered meaningful
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GREEN PLAINS INC.
SELECTED OPERATING DATA
(unaudited, in thousands)

Three Months Ended
September 30,		Nine Months Ended
September 30,
20232022% Var.20232022% Var.
Ethanol production
Ethanol sold (gallons)223,469 219,166 2.0%625,102 646,927 (3.4)%
Distillers grains sold (equivalent dried tons)514 571 (10.0)1,454 1,650 (11.9)
Ultra-High Protein sold (tons)61 15 306.7157 45 248.9
Renewable corn oil sold (pounds)74,227 72,975 1.7206,927 204,502 1.2
Corn consumed (bushels)76,544 75,308 1.6215,115 223,830 (3.9)
Agribusiness and energy services (1)
Domestic ethanol sold (gallons)290,572 276,866 5.0825,574 689,684 19.7
Export ethanol sold (gallons)1,293 13,076 (90.1)5,693 122,049 (95.3)
291,865 289,942 0.7831,267 811,733 2.4
Partnership
Storage and throughput (gallons)225,042 219,719 2.4%629,273 649,417 (3.1)%

(1) Includes gallons from the ethanol production segment.

GREEN PLAINS INC.
CONSOLIDATED CRUSH MARGIN
(unaudited, in thousands)

Three Months Ended
September 30,
20232022
 
Ethanol production operating income (loss) (1)
$11,973 $(64,121)
Depreciation and amortization21,816 21,555 
Adjusted ethanol production operating income (loss)33,789 (42,566)
Intercompany fees, net
Storage and logistics (partnership)8,288 12,589 
Marketing and agribusiness fees (2)
6,420 9,514 
Consolidated ethanol crush margin$48,497 $(20,463)
(1) Ethanol production includes an inventory lower of cost or net realizable value adjustment of $1.7 million and $11.2 million for the three months ended September 30, 2023 and 2022, respectively.
(2) For the three months ended September 30, 2023 and 2022, includes $1.5 million and $3.8 million, respectively, for certain nonrecurring decommissioning costs and nonethanol operating activities.
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Liquidity and Capital Resources
As of September 30, 2023, Green Plains had $366.2 million in total cash and cash equivalents, and restricted cash, and $200.0 million available under a committed revolving credit facility, which is subject to restrictions and other lending conditions. Total debt outstanding at September 30, 2023 was $653.6 million, including $159.7 million outstanding debt under working capital revolvers and other short-term borrowing arrangements and $55.6 million of non-recourse debt related to Green Plains Partners, net of debt issuance costs.

Conference Call Information
On October 31, 2023 Green Plains Inc. and Green Plains Partners LP will host a joint conference call at 9 a.m. Eastern time (8 a.m. Central time) to discuss third quarter 2023 operating results for each company. Domestic and international participants can access the live conference 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-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. Adjusted EBITDA includes adjustments related to our proportional share of EBITDA adjustments of our equity method investees, gains and losses related to the sale of assets, and other income associated with the USDA COVID-19 relief grant. 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 U.S. Generally Accepted Accounting Principles (“GAAP”). These non-GAAP calculations may vary from company to company. Accordingly, the company’s computation of adjusted EBITDA, segment EBITDA and consolidated ethanol crush margins may not be comparable with similarly titled measures of another company.

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, renewable feedstocks for advanced biofuels and high purity alcohols for use in cleaners and disinfectants. Green Plains is an innovative producer of Ultra-High Protein and novel ingredients for animal and aquaculture diets to help satisfy a growing global appetite for sustainable protein. Green Plains also owns a 48.8% limited partner interest and a 2.0% general partner interest in Green Plains Partners LP. For more information, visit www.gpreinc.com.

About Green Plains Partners LP
Green Plains Partners LP (NASDAQ:GPP) is a fee-based Delaware limited partnership formed by Green Plains Inc. to provide fuel storage and transportation services by owning, operating, developing and acquiring ethanol and fuel storage terminals, transportation assets and other related assets and businesses. For more information about Green Plains Partners, visit www.greenplainspartners.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, statements regarding the ability of the company and Green Plains Partners to consummate the transactions contemplated by the merger agreement; the anticipated completion of the proposed transaction and the timing thereof; and the expected future growth, dividends and distributions of the combined company; 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
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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 costs savings, synergies and other benefits of the proposed transaction; the possible diversion of management time on transaction-related issues; local, regional and national economic conditions and the impact they may have on the company, Green Plains Partners and their 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; commodity market risks, including those that may result from weather conditions; the financial condition of the company’s or Green Plains Partners’ customers; any non-performance by customers of their contractual obligations; changes in customer, employee or supplier relationships resulting from the proposed transaction; changes in safety, health, environmental and other governmental policy and regulation, including changes to tax laws; the results of any reviews, investigations or other proceedings by government authorities; and the performance of the company and Green Plains Partners.

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, 2022, and Quarterly Report on Form 10-Q for the three months ended June 30, 2023, each 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.
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GREEN PLAINS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)

September 30,
2023		December 31,
2022
(unaudited)
ASSETS
Current assets
Cash and cash equivalents$326,701 $444,661 
Restricted cash39,459 55,615 
Accounts receivable, net142,790 108,610 
Income taxes receivable1,097 1,286 
Inventories208,061 278,950 
Other current assets39,435 39,628 
Total current assets757,543 928,750 
Property and equipment, net1,011,287 1,029,327 
Operating lease right-of-use assets79,376 73,244 
Other assets102,938 91,810 
Total assets$1,951,144 $2,123,131 
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable$138,350 $234,301 
Accrued and other liabilities57,276 44,443 
Derivative financial instruments21,828 47,941 
Operating lease current liabilities23,335 20,721 
Short-term notes payable and other borrowings159,747 137,678 
Current maturities of long-term debt1,936 1,838 
Total current liabilities402,472 486,922 
Long-term debt491,945 495,243 
Operating lease long-term liabilities59,297 55,515 
Other liabilities22,934 24,385 
Total liabilities976,648 1,062,065 
Stockholders' equity
Total Green Plains stockholders' equity828,149 910,031 
Noncontrolling interests146,347 151,035 
Total stockholders' equity974,496 1,061,066 
Total liabilities and stockholders' equity$1,951,144 $2,123,131 
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GREEN PLAINS INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited, in thousands except per share amounts)

Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Revenues$892,770 $954,977 $2,583,351 $2,748,806 
Costs and expenses
Cost of goods sold (excluding depreciation and amortization expenses reflected below)811,299 956,857 2,471,395 2,650,680 
Operations and maintenance expenses6,709 6,287 21,032 18,012 
Selling, general and administrative expenses35,340 29,066 100,510 90,042 
Gain on sale of assets(5,651)— (5,651)— 
Depreciation and amortization expenses23,899 24,647 73,911 66,013 
Total costs and expenses871,596 1,016,857 2,661,197 2,824,747 
Operating income (loss)21,174 (61,880)(77,846)(75,941)
Other income (expense)
Interest income2,467 1,763 8,403 2,640 
Interest expense(9,550)(9,576)(29,029)(26,182)
Other, net4,282 (182)4,310 28,394 
Total other income (expense)(2,801)(7,995)(16,316)4,852 
Income (loss) before income taxes and income (loss) from equity method investees18,373 (69,875)(94,162)(71,089)
Income tax benefit7,763 1,888 5,353 146 
Income (loss) from equity method investees156 84 532 (112)
Net income (loss)26,292 (67,903)(88,277)(71,055)
Net income attributable to noncontrolling interests3,981 5,623 12,340 17,547 
Net income (loss) attributable to Green Plains$22,311 $(73,526)$(100,617)$(88,602)
Earnings per share
Net income (loss) attributable to Green Plains - basic$0.38 $(1.27)$(1.71)$(1.62)
Net income (loss) attributable to Green Plains - diluted$0.35 $(1.27)$(1.71)$(1.62)
Weighted average shares outstanding
Basic58,910 57,677 58,780 54,550 
Diluted67,402 57,677 58,780 54,550 


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GREEN PLAINS INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, in thousands)

Nine Months Ended
September 30,
2023 2022
Cash flows from operating activities
Net loss$(88,277)$(71,055)
Noncash operating adjustments
Depreciation and amortization73,911 66,013 
Gain on sale of assets(5,651)— 
Loss on extinguishment of debt— 419 
Inventory lower of cost or net realizable value adjustment1,663 11,177 
Other6,628 10,707 
Net change in working capital(43,660)(51,727)
Net cash used in operating activities(55,386)(34,466)
Cash flows from investing activities
Purchases of property and equipment, net(77,876)(183,225)
Proceeds from the sale of assets25,106 — 
Proceeds from the sale of marketable securities— 99,917 
Investment in equity method investees(16,299)(6,976)
Net cash used in investing activities(69,069)(90,284)
Cash flows from financing activities
Net proceeds (borrowings) - long term debt(4,325)43,653 
Net proceeds - short-term borrowings21,105 33,602 
Other(26,441)(26,016)
Net cash provided by (used in) financing activities(9,661)51,239 
Net change in cash and cash equivalents, and restricted cash(134,116) (73,511)
Cash and cash equivalents, and restricted cash, beginning of period500,276  560,959 
Cash and cash equivalents, and restricted cash, end of period$366,160  $487,448 
Reconciliation of total cash and cash equivalents, and restricted cash
Cash and cash equivalents$326,701  $420,838 
Restricted cash39,459  66,610 
Total cash and cash equivalents, and restricted cash$366,160  $487,448 
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GREEN PLAINS INC.
RECONCILIATIONS TO NON-GAAP FINANCIAL MEASURES
(unaudited, in thousands)

Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Net income (loss)$26,292 $(67,903)$(88,277)$(71,055)
Interest expense9,550 9,576 29,029 26,182 
Income tax benefit(7,763)(1,888)(5,353)(146)
Depreciation and amortization (1)
23,899 24,647 73,911 66,013 
EBITDA51,978 (35,568)9,310 20,994 
Other income (2)
(3,440)— (3,440)(27,712)
Gain on sale of assets(5,651)— (5,651)— 
Proportional share of EBITDA adjustments to equity method investees45 45 135 135 
Adjusted EBITDA$42,932 $(35,523)$354 $(6,583)

(1) Excludes amortization of operating lease right-of-use assets and amortization of debt issuance costs.
(2) Other income includes grants received from the USDA related to the Biofuel Producer Program of $3.4 million for the three and nine months ended September 30, 2023 and $27.7 million for the nine months ended September 30, 2022.

Green Plains Inc. Contacts
Investors: Phil Boggs | Executive Vice President, Investor Relations | 402.884.8700 | phil.boggs@gpreinc.com
Media: Lisa Gibson | Communications Manager | 402.952.4971 | lisa.gibson@gpreinc.com


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10
v3.23.3
Cover
Oct. 31, 2023
Cover [Abstract]  
Document Type 8-K
Document Period End Date Oct. 31, 2023
Entity Registrant Name GREEN PLAINS INC.
Entity Incorporation, State or Country Code IA
Entity File Number 001-32924
Entity Tax Identification Number 84-1652107
Entity Address, Address Line One 1811 Aksarben Drive
Entity Address, City or Town Omaha
Entity Address, State or Province NE
Entity Address, Postal Zip Code 68106
City Area Code 402
Local Phone Number 884-8700
Title of 12(b) Security Common Stock, par value $0.001 per share
Trading Symbol GPRE
Security Exchange Name NASDAQ
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Amendment Flag false
Entity Central Index Key 0001309402
Green Plains (NASDAQ:GPRE)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024 Green Plains 차트를 더 보려면 여기를 클릭.
Green Plains (NASDAQ:GPRE)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024 Green Plains 차트를 더 보려면 여기를 클릭.