Green Plains Swings to Q1 Profit From Clean Fuel Credits

SECAUCUS, NJ (DTN) –- Green Plains Inc. leveraged a surge in low-carbon tax credits to swing to a first quarter 2026 profit, reversing a steep loss from the prior year, despite lower crushing volumes.

Ethanol production volumes at the Omaha, Nebraska based crusher totaled 174.2 million gallons, supported by a 97% utilization rate across eight operating plants. In the first quarter of 2025, volume was at 195.3 million gallons from a 100% utilization.

While Green Plains sold its Obion, Tennessee facility during the quarter in review, it benefited from $55.2 million in Section 45Z Clean Fuel Production credits that added to bottom line.

As a result, ethanol crush margins delivered $64.6 million in earnings for the quarter ended March 31, 2026, compared with a $14.7 million loss a year ago. Net income reached $32.9 million against a net loss of $72.9 million in the 2025 period.