Green Plains Q3 2026: Ethanol crush margin doubles to $122.8M, net income hits $85.4M

Green Plains reported strong third-quarter 2026 results, with consolidated ethanol crush margin reaching $122.8 million, up from $59.6 million a year earlier. Net income attributable to the company surged to $85.4 million, or $1.03 per diluted share, compared to $11.9 million in Q3 2025. Revenue slipped slightly to $496.0 million, largely due to the disposition of the Obion, Tennessee plant, which reduced ethanol volumes sold. Higher ethanol prices and renewable corn oil sales offset the volume decline. The company sold 174.9 million gallons of ethanol in Q3 2026, down from 197.3 million gallons in the prior-year period. Adjusted EBITDA more than doubled to $118 million from $52.6 million. The results highlight improving economics for ethanol producers, driven by crush spreads and co-product revenue. For those tracking biofuel markets and low-carbon fuel supply, this report offers concrete data on margin trends and operational shifts.