Filing Flows › Green Plains (GPRE) › Q2 2026 › vs Q2 2025
Green Plains (GPRE) Q2 2026 vs Q2 2025 (year over year)
Green Plains's revenue fell $107M (-19%) from $553M in Q2 2025 to $446M in Q2 2026. The biggest changes: Ethanol Production −$116M (-22%); Agribusiness & Energy Services +$9.6M (+37%). Gross margin 25.3% against 7.5% (+17.8 pts).
Green Plains, Q2 2026: revenue $446M (-19% year over year), operating margin 15.2%, net earnings $67.1M, operating cash flow $86.3M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 25.3% | 7.5% | +17.8 pts |
| Operating margin | 15.2% | -5.1% | +20.3 pts |
| Net margin | 15.0% | -13.1% | +28.1 pts |
| Free cash flow margin | 16.9% | 8.6% | +8.3 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Ethanol Production | $411M | $527M | −$116M | -22% |
| Agribusiness & Energy Services | $35.5M | $25.9M | $9.6M | +37% |
| Revenue | $446M | $553M | −$107M | -19% |
| Gross profit | $113M | $41.6M | $71.5M | +172% |
| Cost of revenue | $333M | $511M | −$178M | -35% |
| Operating profit | $67.9M | −$28.4M | $96.2M | — |
| Operating expenses | $45.2M | $69.9M | −$24.8M | -35% |
| Pre-tax earnings | $61.7M | −$69.9M | $132M | — |
| Other expense, net | $6.2M | $41.6M | −$35.4M | -85% |
| SG&A | $21.7M | $27.6M | −$5.9M | -21% |
| Other operating costs | $23.4M | $42.3M | −$18.9M | -45% |
| Income tax benefit | $5.5M | −$2.3M | $7.8M | — |
| Net earnings | $67.1M | −$72.2M | $139M | — |
| Minority interests | $57K | $11K | $46K | +418% |
| Depreciation & amortization | $23.4M | $27.6M | −$4.1M | -15% |
| Share-based compensation | $2.3M | $2.3M | $31K | +1% |
| Working capital & other | $6.6M | −$101M | $108M | — |
| Operating cash flow | $86.3M | $58.8M | $27.5M | +47% |
| Free cash flow (OCF − capex) | $75.6M | $47.7M | $27.9M | +59% |
| Capital expenditures | $10.7M | $11.1M | −$451K | -4% |
Questions
How much did Green Plains's revenue grow year over year in Q2 2026?
Green Plains's revenue fell $107M (-19%) from $553M in Q2 2025 to $446M in Q2 2026.
What drove Green Plains's revenue change in Q2 2026?
Ethanol Production −$116M (-22%); Agribusiness & Energy Services +$9.6M (+37%).