Shares of Green Plains Inc. (GPRE) surged over 5% in pre-market trading on Tuesday after the biorefining company reported better-than-expected Q3 2024 earnings and announced a leadership change in its finance department. In its quarterly report, Green Plains posted earnings per share of $0.69, significantly exceeding Wall Street's consensus estimate of $0.12. While revenues of $658.7 million missed forecasts slightly, the strong profit numbers were enough to excite investors ahead of the opening bell.

The upbeat Q3 performance is the primary driver behind GPRE's pre-market gains, but the company also disclosed a key management transition. Effective November 1st, Phil Boggs will take over as Chief Financial Officer, replacing the retiring Jim Stark. Boggs has held various finance leadership roles at Green Plains since 2009, most recently serving as head of investor relations. His promotion is part of a predetermined succession plan and is not expected to significantly alter the company's strategic direction.

With solid quarterly results and a smooth CFO handover in the works, Green Plains investors are bidding up shares ahead of today's trading session. However, the stock remains down around 40% year-to-date amid broader market volatility and concerns about slowing economic growth.