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Greenbacker Renewable Energy Co LLC earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 12, 2026
Q2 2026 Revenue down 17% year over year to $41.9M · 90¢ of every $1 of revenue lost · operating margin -80.7%
Greenbacker Renewable Energy Co LLC made $41.9M in Q2 2026 (-17% Y/Y). Operating margin -80.7%, net loss $37.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.
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What changed this quarter
Revenue was $41.9M in Q2 2026, down 17% year over year and up 20% from the previous quarter.
Operating costs exceeded revenue by $33.8M, an operating margin of -80.7%. Total costs grew 4% against a revenue fall of 17%. The fastest-growing cost line was General & admin (+33%). The quarter ended with a net loss of $37.8M, wider than the previous quarter's $27.5M loss. Minority interests bore $49.1M of it: to shareholders the quarter was a profit of $11.3M.
Operating cash flow was $7.3M (down 63% year over year). Non-cash charges added back $18.9M of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items added $23.8M. Capital expenditures of $36.8M exceeded it, leaving free cash flow of −$29.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 12, 2026 | $41.9M | -17% | -80.7% | −$37.8M | $7.3M |
| Q1 2026 | 10-Q | May 13, 2026 | $34.8M | -31% | -39.8% | −$27.5M | $5.3M |
| Q4 2025 | 10-K | Mar 9, 2026 | $39.9M | -7% | -279.5% | −$107M | −$12K |
| Q3 2025 | 10-Q | Nov 13, 2025 | $50.2M | -3% | -49.5% | −$31.9M | $33.6M |
| Q2 2025 | 10-Q | Aug 8, 2025 | $50.6M | -7% | -43.2% | −$35.7M | $19.7M |
| Q1 2025 | 10-Q | May 12, 2025 | $50.5M | +8% | -51.1% | −$40.7M | −$9.6M |
| Q4 2024 | 10-K | Mar 31, 2025 | $42.8M | -7% | -572.5% | −$191M | $11.1M |
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About Greenbacker Renewable Energy Co LLC
The use of “we”, “us”, “our” and the “Company” refer, collectively to the Greenbacker Renewable Energy Company LLC and its subsidiaries, unless otherwise expressly stated or context otherwise requires. This report does not constitute an offer of any of the Company’s managed funds described herein. Greenbacker Renewable Energy Company LLC (the “Company” or “GREC LLC”) is a Delaware limited liability company formed in December 2012. The Company is an energy transition, renewable energy and investment management (“IM”) company that acquires, constructs and operates renewable energy and energy efficiency projects, as well as finances the construction and/or operation of these and other sustainable development projects and businesses and provides investment management services to funds within the sustainable infrastructure and renewable energy industry through Greenbacker Capital Management…
In its own words, from its 10-K, filed Mar 9, 2026.
Greenbacker Renewable Energy Co LLC against its Electric Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -17% against the peers' median +13%. Operating margin: -80.7% against the peers' median 26.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| Greenbacker Renewable Energy Co LLC | Q2 2026 | $41.9M | -17% | -80.7% |
| Southern Power | Q3 2026 | $8.8B | +13% | 33.9% |
| NEE NextEra Energy | Q3 2026 | $8.1B | +2% | 32.4% |
| Florida Power & Light | Q2 2026 | $7.5B | +12% | 29.7% |
| CEG Constellation Energy | Q2 2026 | $7.5B | +23% | 7.7% |
| NRG NRG Energy | Q2 2026 | $7.5B | +11% | 13.0% |
| AEP Texas | Q3 2026 | $6.8B | +14% | 26.5% |
| VST Vistra | Q3 2026 | $6.3B | +28% | 26.9% |
| D Dominion Energy | Q3 2026 | $5.6B | +24% | 32.8% |
Source: Greenbacker Renewable Energy Co LLC 10-Q on SEC EDGAR · CIK 1563922 · Electric Services