SHARPE
Reported results
- Third quarter 2026 net income was $273.3 million, or basic earnings per common share of $2.91, compared to net income of $313.4 million, or basic earnings per common share of $3.61 for the third quarter of 2025.
- Third quarter 2026 GAAP sales were $1,682.9 million compared to $1,078.0 million in the prior year period.
- Third quarter 2026 non-GAAP Adjusted EBITDA was $322.0 million compared to $69.6 million in the third quarter of 2025.
- Third quarter 2026 non-GAAP Adjusted EBITDA with Tax Attributes was $347.2 million compared to $92.5 million in the third quarter of 2025.
- Specialty Products and Solutions segment reported non-GAAP Adjusted EBITDA of $248.1 million during the third quarter of 2026 compared to $80.2 million for the same quarter a year ago.
- Montana/Renewables segment reported non-GAAP Adjusted EBITDA with Tax Attributes of $110.6 million during the third quarter of 2026 compared to $17.1 million in the prior year period.
Guidance
- The Company expects to reach approximately 200 million gallons of annual SAF production and 17,000 barrels per day of total product sales by year-end 2028.
Price and volatility reaction
The stock moved -8.6% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -12.9 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 43.35 | 2026-11-05 |
| Close after release | 39.64 | 2026-11-06 |
| Realised move | -8.6% | close to close |
| 30d ATM IV change | -12.9 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-11-06 (8-K, Item 2.02). Read the original filing on sec.gov.