Green Plains Inc. reports a significant financial turnaround in its Q1 earnings, largely driven by the carbon 45Z tax credit program. The company saw a net EBITDA contribution of $55.2 million from these credits, leading to a substantial recovery in adjusted EBITDA and a return to net profitability. While operational records and high plant utilization supported the growth, the company cautioned that the conversion of these carbon credits into actual cash depends on rigorous third-party audits and compliance verification. Management has raised full-year 45Z net EBITDA guidance to between $200 million and $225 million.
