Green Plains Inc. reported a net loss attributable to the company of $54.9 million, or $(0.86) per diluted share, for the fourth quarter of 2024. This compares to a net income of $7.2 million, or $0.12 per diluted share, for the same period in 2023. Revenues for the quarter decreased to $584.0 million from $712.4 million year-over-year, and EBITDA was $(18.9) million, down from $44.7 million in Q4 2023.
In response to challenging market conditions, Green Plains launched a corporate reorganization and cost reduction initiative targeting up to $50 million in annualized savings, with $30 million already implemented. This includes the temporary idling of the Fairmont, Minnesota facility due to sustained localized margin pressure, and realignment of corporate and trade group SG&A functions.
For the full year 2024, the company reported a net loss of $47.459 million on revenues of $2,458.796 million. Despite the losses, the 'Advantage Nebraska' carbon strategy remains on track for the second half of 2025, with the updated GREET model being favorable to the company's assets. The combined cost reduction initiatives and carbon earnings from Nebraska are projected to contribute $180 million in annualized earnings before considering other segments.
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