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Green Plains (GPRE) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Green Plains (GPRE) Q3 2026 earnings results →
Q3 2026 Revenue down 2% year over year to $496M · 17¢ of every $1 of revenue kept as net profit · operating margin 18.7%
Green Plains made $496M in Q3 2026 (-2% Y/Y): Ethanol Production $454M, Agribusiness & Energy Services $41.5M. Operating margin 18.7%, net earnings $85.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $496.0M in Q3 2026, down 2% year over year and up 11% from the previous quarter. Ethanol Production was the largest line at 92% of revenue. Ethanol Production lost $19.1M year over year (down 4%), 153% of the total change.
Gross margin was 28.8%, up 13.3 points from Q3 2025. Operating profit was $92.6M, a 18.7% margin (up 6.8 points year over year). Operating expenses grew 174% against a revenue fall of 2%. Net earnings were $85.4M, up 616% year over year. The effective tax rate was 0.8%.
Operating cash flow was $583K (down 99% year over year), 1% of net earnings. Non-cash charges added back $23.6M of depreciation and amortization and $2.0M of share-based compensation. Working capital and other items used $110.6M. Capital expenditures of $11.9M exceeded it, leaving free cash flow of −$11.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $496M | -2% | 18.7% | $85.4M | $583K |
| Q2 2026 | 10-Q | Aug 6, 2026 | $446M | -19% | 15.2% | $67.1M | $86.3M |
| Q1 2026 | 10-Q | May 7, 2026 | $446M | -26% | 10.0% | $32.9M | −$39.5M |
| Q4 2025 | 10-K | Feb 10, 2026 | $429M | -27% | -2.4% | $12.9M | $67.3M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $508M | -23% | 6.7% | $11.0M | $39.8M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $553M | -11% | -5.1% | −$72.2M | $58.8M |
| Q1 2025 | 10-Q | May 8, 2025 | $602M | +0.7% | -10.4% | −$72.6M | −$55.0M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Green Plains
Incorporated in Iowa, Green Plains is a renewable fuels and agricultural technology company focused on producing low-cost, low-CI ethanol and related co-products, including high protein feeds and corn oil from locally sourced corn. Our goal is to create value through an operational excellence focus including disciplined operations, cost leadership and carbon reduction as we position the company to benefit from expanding low-carbon fuel markets. Founded in 2004, Green Plains now owns nine strategically located plants across the Midwest, capable of processing approximately 287 million bushels of corn annually, when all plants are operating. Today, our focus is on operating safely, efficiently and cost-effectively while reducing the CI of our products and maintaining financial flexibility to support long term growth.
In its own words, from its 10-K, filed Feb 10, 2026.
Green Plains against its Industrial Organic Chemicals peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -2% against the peers' median +5%. Operating margin: 18.7% against the peers' median 15.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| GPRE Green Plains | Q3 2026 | $496M | -2% | 18.7% |
| LYB LyondellBasell Industries N.V. | Q3 2026 | $8.5B | +10% | 12.6% |
| WLK Westlake | Q3 2026 | $3.0B | +5% | 1.4% |
| IFF International Flavors & Fragrances | Q3 2026 | $1.9B | +4% | 8.2% |
| Union Carbide | Q3 2026 | $1.5B | +38% | 29.6% |
| NEU Newmarket | Q3 2026 | $717M | +4% | 20.0% |
| SXT Sensient Technologies | Q3 2026 | $456M | +11% | 15.9% |
| WLKP Westlake Chemical Partners LP | Q3 2026 | $314M | +2% | 30.4% |
| ALTO Alto Ingredients | Q3 2026 | $258M | +7% | 2.7% |
Source: Green Plains 10-Q on SEC EDGAR · CIK 1309402 · Industrial Organic Chemicals
Guidance and outlook
13F: who owns GPRE and who is buying
More on GPRE
- How Green Plains makes money: revenue by segment
- Green Plains next earnings date and what analysts expect
- Green Plains stock forecast, price target and fair value
- Who owns Green Plains stock: holders, funds and Congress trades
- Green Plains guidance and outlook
- Is Green Plains a takeover target? LBO and rumors
- Green Plains recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Green Plains guidance history: guided vs reported
- Green Plains gross margin by quarter
- Green Plains operating margin by quarter
- Green Plains net income by quarter
- Green Plains free cash flow by quarter
- Green Plains capital expenditures by quarter
- Green Plains Ethanol Production revenue by quarter
- Green Plains Agribusiness & Energy Services revenue by quarter