Filing Flows › Green Plains (GPRE) › Q1 2026
Green Plains (GPRE) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Green Plains (GPRE) reported revenue of $446M for the first quarter 2026 (Q1 2026), -26% from a year earlier and +4% from the quarter before. Operating margin was 10.0%, net earnings $32.9M (7.4% of revenue).
Green Plains, Q1 2026: revenue $446M (-26% year over year), operating margin 10.0%, net earnings $32.9M, operating cash flow −$39.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $446M | +4% | -26% |
| Gross profit | $87.9M | +119% | 29× |
| Operating profit | $44.8M | — | — |
| Net earnings | $32.9M | +176% | — |
| Operating cash flow | −$39.5M | -159% | — |
What changed
Revenue was $445.8M in Q1 2026, down 26% year over year and up 4% from the previous quarter. Ethanol Production was the largest line at 88% of revenue. Ethanol Production lost $104.1M year over year (down 21%), 67% of the total change.
Gross margin was 19.7%, up 19.2 points from Q1 2025. Operating profit was $44.8M, a 10.0% margin (up 20.4 points year over year). Operating expenses fell 34% while revenue fell 26%. Net earnings were $32.9M. The effective tax rate was 8.0%.
Operating cash flow was −$39.5M. Non-cash charges added back $23.6M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items used $98.5M. Capital expenditures of $6.4M exceeded it, leaving free cash flow of −$45.9M.
Questions
What was Green Plains' revenue in the first quarter 2026?
Green Plains (GPRE) reported revenue of $446M for the first quarter 2026 (Q1 2026), -26% from a year earlier and +4% from the quarter before.
Was Green Plains profitable in the first quarter 2026?
Operating profit was $44.8M (10.0% of revenue) and net earnings $32.9M.
Source: Green Plains 10-Q on SEC EDGAR.