Green Plains reports Q3 EPS 35c, consensus (11c)

Reports Q3 revenue $892.8M, consensus $819.32M. 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.”