10-Q · November 5, 2025
Green Plains reported Q3 revenue of $508.487M, down from $658.735M a year ago, with gross margin around 10.3% and operating income of $33.869M. Diluted EPS was $0.17 for the quarter, while nine-month results show a net…
Earnings analysis · 10-Q
GPRE earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Green Plains reported better-than-expected Q1 2026 earnings with an EPS of $0.42, significantly surpassing the estimate of $0.09. Revenue was lower at $445.8 million, reflecting a 25.9% year-over-year decline, mainly…
Read full summary
Green Plains reported better-than-expected Q1 2026 earnings with an EPS of $0.42, significantly surpassing the estimate of $0.09. Revenue was lower at $445.8 million, reflecting a 25.9% year-over-year decline, mainly due to decreased ethanol production and sales. However, adjusted EBITDA rose to $71.5 million from a loss of $41.5 million in the previous year, benefiting from government tax credits and improved margins.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.42
What stood out
-
Significant EPS Beat
EPS of $0.42 exceeded estimates of $0.09 by 366.67%.
-
Improved Adjusted EBITDA
Q1 adjusted EBITDA of $71.5 million, up from a loss of $41.5 million YOY.
-
Reduction in Cost of Goods Sold
COGS decreased significantly by 40.2% to $357.9 million due to $56.1 million in production tax credits.
-
Operating Income Turnaround
Operating income improved to $44.8 million from a loss of $62.3 million a year ago.
-
Utilization Rate Increase
Utilization rate for plants at 97%, compared to 92% in Q1 2025.
-
Ethanol Production Tax Credits
The company recorded $55.2 million in production tax credits, contributing positively to margins.
What to watch
-
Revenues Declined Year-over-Year
Total revenue fell to $445.8 million, down 25.9% from $601.5 million in Q1 2025.
-
Significant Segment Revenue Declines
Ethanol production revenues dropped by 21.0%, while Agribusiness and Energy Services fell 46.6%.
-
Operational Headwinds from Plant Dispositions
Revenue decline attributed to the closure of the Obion, Tennessee plant, affecting volume sales.
Management's outlook
Guidance raised for FY 2026 EBITDA to $200 to $225 million, based on anticipated production tax credits.
Earlier filings 4
10-Q · May 3, 2024
Green Plains reported Q1 revenue of $597,214,000 and a net loss attributable to Green Plains of $51,412,000 (diluted EPS $(0.81)). Results reflect steep revenue declines versus the year-ago quarter and an operating loss…
10-Q · October 31, 2023
Green Plains reported Q3 revenue of $892.8M and delivered a GAAP operating profit of $21.2M and diluted EPS of $0.35, a material improvement vs. Q3 2022. Revenue declined vs. prior-year but profitability recovered…
10-Q · August 4, 2023
Green Plains reported Q2 revenue of $857.6M (below prior-year $1,012.4M) but above consensus, while reporting an operating loss of $42.5M and diluted EPS of $(0.89). Liquidity was stressed in H1: operating cash used was…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.