Revenue: As of FY2026 Q2, the actual value is USD 446.22 M, missing the estimate of USD 542.44 M.

EPS: As of FY2026 Q2, the actual value is USD 0.83.

EBIT: As of FY2026 Q2, the actual value is USD 69.85 M.

Second Quarter 2026 Financial Results

Net Income

Net income attributable to Green Plains Inc. was $67.1 million for the second quarter of 2026, a significant improvement compared to a net loss of - $72.2 million for the same period in 2025.For the six months ended June 30, 2026, net income attributable to Green Plains Inc. was $100.087 million, compared to a net loss of - $145.144 million for the same period in 2025.

Adjusted EBITDA

Adjusted EBITDA reached $93.3 million for the second quarter of 2026, up from $16.4 million in the second quarter of 2025.This included $34.6 million from the base business and $58.7 million from 45Z production tax credit value, net of discounts and other costs.For the six months ended June 30, 2026, Adjusted EBITDA was $164.893 million, compared to - $7.700 million for the same period in 2025.

Cash Flow

Cash flow from operating activities was $86.3 million for the second quarter of 2026.Net cash provided by operating activities for the six months ended June 30, 2026, was $46.767 million, an increase from $3.754 million for the same period in 2025.

Liquidity and Capital Resources

As of June 30, 2026, Green Plains Inc. held $243.1 million in total cash and cash equivalents, and restricted cash.The company had $290.0 million available under a committed revolving credit facility, which was amended to extend the termination date to September 25, 2027, and reduced the borrowing limit from $350 million to $300 million.Total debt outstanding as of June 30, 2026, was $483.7 million, including $27.0 million in outstanding debt under working capital revolvers and other short-term borrowing arrangements.

Consolidated Revenues

Consolidated revenues for the second quarter of 2026 were $446.2 million, a decrease from $552.8 million for the same period last year, primarily due to lower volumes sold in the ethanol production segment following the disposition of the Obion, Tennessee plant.For the six months ended June 30, 2026, consolidated revenues were $892.028 million, compared to $1,154.344 million for the same period in 2025.

Segment Performance (Three Months Ended June 30, in thousands)

Ethanol Production Segment

• Revenues: $410,768 in 2026, down 22.1% from $527,153 in 2025.
• Gross Margin: $104,229 in 2026, compared to $33,490 in 2025.
• Operating Income (Loss): $70,977 in 2026, a significant improvement from - $12,218 in 2025.
• Adjusted EBITDA: $94,454 in 2026, compared to $8,992 in 2025.
• Ethanol (gallons) sold: 160,700 thousand in 2026, a 17.0% decrease from 193,571 thousand in 2025.
• 45Z production tax credits net of discounts and other costs: $60.4 million recorded as a reduction of cost of goods sold.

Agribusiness and Energy Services Segment

• Revenues: $39,546 in 2026, up 25.4% from $31,531 in 2025.
• Gross Margin: $8,801 in 2026, up 8.9% from $8,080 in 2025.
• Operating Income: $6,699 in 2026, compared to $849 in 2025.
• Adjusted EBITDA: $6,924 in 2026, up 37.7% from $5,028 in 2025.

Other Key Metrics (Three Months Ended June 30)

• Consolidated Ethanol Crush Margin: $95,071 thousand in 2026, compared to $26,286 thousand in 2025.
• Selling, General and Administrative Expenses: $21.7 million in 2026, a 21% decrease or $5.9 million lower compared to 2025.
• Interest Expense: - $8,130 thousand in 2026, compared to - $13,899 thousand in 2025.
• Income Tax Benefit (Expense): $5,485 thousand income tax benefit in 2026, compared to - $2,294 thousand income tax expense in 2025.
• Ethanol Plant Utilization: 88% from the eight operating ethanol plants in the quarter.

Operational Highlights

Green Plains Inc. achieved Highly Protected Status from its property insurance carrier, FM, for its Superior, Iowa facility, joining the Central City, Nebraska facility.

Outlook / Guidance

Green Plains Inc. aims to direct strong earnings and meaningful cash flow towards reducing debt and building a more resilient balance sheet positioned for growth.The company is focused on disciplined execution and leadership in low-carbon biofuels and high-value ingredients.Management believes its assumptions concerning future events are reasonable, but cautions that inherent difficulties in predicting certain important factors could impact future performance.