Filing Flows › Green Plains (GPRE) › Q3 2025
Green Plains (GPRE) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Green Plains (GPRE) reported revenue of $508M for the third quarter 2025 (Q3 2025), -23% from a year earlier and -8% from the quarter before. Operating margin was 6.7%, net earnings $11.0M (2.2% of revenue).
Green Plains, Q3 2025: revenue $508M (-23% year over year), operating margin 6.7%, net earnings $11.0M, operating cash flow $39.8M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $508M | -8% | -23% |
| Operating profit | $33.9M | — | — |
| Net earnings | $11.0M | — | — |
| Operating cash flow | $39.8M | -32% | -37% |
| Free cash flow | $35.8M | -25% | +4% |
What changed
Revenue was $508.5M in Q3 2025, down 23% year over year and down 8% from the previous quarter. Ethanol Production was the largest line at 93% of revenue. Ethanol Production lost $90.0M year over year (down 16%), 60% of the total change.
Gross margin was 10.3%, down 1.6 points from a year earlier. Operating profit was $33.9M, a 6.7% margin (down 1.8 points year over year). Operating expenses fell 17% while revenue fell 23%. Net earnings were $11.9M, down 75% year over year ($11.0M including minority interests, which bore $1.0M of losses).
Operating cash flow was $39.8M (down 37% year over year), 362% of net income including minority interests. Non-cash charges added back $25.0M of depreciation and amortization and $2.6M of share-based compensation. Capital expenditures of $4.0M left free cash flow of $35.8M.
Questions
What was Green Plains' revenue in the third quarter 2025?
Green Plains (GPRE) reported revenue of $508M for the third quarter 2025 (Q3 2025), -23% from a year earlier and -8% from the quarter before.
Was Green Plains profitable in the third quarter 2025?
Operating profit was $33.9M (6.7% of revenue) and net earnings $11.0M.
Source: Green Plains 10-Q on SEC EDGAR.