Green Plains Inc. Reports Revenue Decline to $2.46 Billion and Net Loss of $81.2 Million for Fiscal Year 2024

Green Plains Inc. reported a significant decline in its financial performance for the fiscal year ending December 31, 2024, with total revenues of $2.46 billion, down from $3.30 billion in 2023. The decrease of approximately $836.9 million was primarily attributed to lower average selling prices for ethanol, distillers grains, and renewable corn oil, despite an increase in sales volumes for ethanol and renewable corn oil. The company recorded a net loss of $81.2 million, compared to a loss of $76.3 million in the previous year, reflecting ongoing margin pressures in its ethanol production segment.

The company has undergone notable strategic changes, including the completion of a merger with Green Plains Partners LP in January 2024, which has since been dissolved. This merger has integrated the partnership's operations into Green Plains' ethanol production segment, enhancing its operational scale. Additionally, Green Plains has focused on expanding its product offerings through the deployment of advanced technologies such as Fluid Quip Technologies' Maximized Stillage Co-products™ and Clean Sugar Technology™, which are aimed at producing high-value ingredients like Ultra-High Protein and low-carbon glucose.

Operationally, Green Plains maintained an average utilization rate of approximately 94% across its ten biorefineries, an increase from 89% in 2023. The company has also committed to carbon capture and sequestration projects at seven of its facilities, with expectations for completion in 2025. The strategic review initiated in February 2024 aims to explore various opportunities for enhancing shareholder value, including potential acquisitions and divestitures, while also identifying cost reduction initiatives expected to yield approximately $30 million in annual savings.

As of December 31, 2024, Green Plains employed 923 individuals, a slight decrease from previous years, and reported total assets of $1.78 billion. The company’s liquidity position remains stable, with $173 million in cash and cash equivalents and $200.7 million available under its revolving credit agreement. Looking ahead, Green Plains anticipates continued challenges due to commodity price volatility, particularly in corn and ethanol markets, but remains optimistic about the long-term demand for low-carbon fuels and the potential benefits from its carbon reduction strategies and technological advancements.