24/7 Market News Snapshot 31 October, 2024 – Green Plains, Inc. (NASDAQ:GPRE)

October 31, 2024

DENVER, Colo., 31 October, 2024 (247marketnews.com) – (NASDAQ:GPRE) are discussed in this article.
Green Plains, Inc. (GPRE) is experiencing significant market momentum, with its stock recently surging over 20% to trade at approximately $13.979, following an opening price of $12.93. This notable increase, reflecting a robust trading volume of 1.06 million shares, indicates strong investor confidence in the company’s prospects. Accompanying this price surge, Green Plains has released its third-quarter financial results for 2024, showcasing remarkable operational effectiveness. The company reported a net income of $48.2 million, translating to $0.69 per diluted share, which is a substantial rise from $22.3 million, or $0.35 per diluted share, during the same quarter last year.

Although the revenue showed a decline, reaching $658.7 million compared to $892.8 million in 2023, it successfully delivered an impressive growth in EBITDA, soaring to $83.3 million from $52.0 million. Todd Becker, President and CEO, credited this successful performance to the company’s commitment to operational excellence, reflected in an ethanol production utilization rate of 97% and record outputs of Ultra-High Protein and renewable corn oil.

Becker further expressed optimism about the company’s future, noting strategic developments such as the upcoming construction of carbon capture and sequestration facilities, made possible by recent approvals. This aligns with Green Plains’ innovative “Advantage Nebraska” strategy. In its efforts to diversify, Green Plains is expanding into high-value markets like pet food and international aquaculture, supporting its commitment to sustainable ingredient production.

Moreover, the company has improved its financial standing by generating solid free cash flow and reducing debt through asset sales. With these strategic initiatives, Green Plains is well-positioned for ongoing growth and enhanced shareholder value in the renewable energy sector.

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