Green Plains Inc. (NASDAQ:GPRE) Q3 2023 Earnings Conference Call October 31, 2023 9:00 AM ET
Company Participants
Phil Boggs – Executive Vice President-Investor Relations
Todd Becker – President and Chief Executive Officer
Jim Stark – Chief Financial Officer
Devin Mogler – Senior Vice President-Government Relations, Sustainability & Communications
Conference Call Participants
Jordan Levy – Truist Securities
Manav Gupta – UBS
Craig Irwin – ROTH MKM
Ben Bienvenu – Stephens
Eric Stine – Craig-Hallum
Salvator Tiano – Bank of America
Andrew Strelzik – BMO
Kristen Owen – Oppenheimer
Operator
Good morning and welcome to the Green Plains Inc. and Green Plains Partners Third Quarter 2023 Earnings Conference Call. Following the company's prepared remarks, instructions will be provided for Q&A. At this time, all participants are in a listen-only mode.
I will now turn the call over to your host, Phil Boggs, Executive Vice President of Investor Relations. Mr. Boggs, please go ahead.
Phil Boggs
Thank you, and good morning, everyone. Welcome to Green Plains Inc. and Green Plains Partners third quarter 2023 earnings call. Participants on today's call are Todd Becker, President and Chief Executive Officer and Jim Stark, Chief Financial Officer. There is a slide presentation available, and you can find it on the Investor page under the Events and Presentations link on both corporate websites.
During this call, we will be making forward-looking statements which are predictions, projections, or other statements about future events. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could materially differ because of factors discussed in today's press releases, in the comments made during this conference call, and in the risk factors section of our Form 10-K, Form 10-Q, and other reports and filings with the Securities and Exchange Commission. We do not undertake any duty to update any forward-looking statement.
Now, I'd like to turn the call over to Todd Becker.
Todd Becker
Thanks Phil, and good morning, everyone, and thanks for joining our call today. This morning we reported $52 million in EBITDA for the third quarter and an ethanol operating rate of 93.9% and very strong Ultra-High Protein production and sales. These results begin to demonstrate our platform's capabilities and we believe we can and we will build on these record rates moving forward and start to see the real benefits in Q4 and beyond.
The team was focused on bringing our platform back to consistent operations after our first half headwinds, some of which continued into July of this quarter. But we really started to gain positive momentum as the quarter progressed and has continued into Q4. We executed on the market opportunities that were and continued to be available.