Filing Flows › Green Plains (GPRE) › Q3 2026 › vs Q3 2025
Green Plains (GPRE) Q3 2026 vs Q3 2025 (year over year)
Green Plains's revenue fell $12.5M (-2%) from $508M in Q3 2025 to $496M in Q3 2026. The biggest changes: Ethanol Production −$19.1M (-4%); Agribusiness & Energy Services +$6.6M (+19%). Gross margin 28.8% against 15.5% (+13.3 pts).
Green Plains, Q3 2026: revenue $496M (-2% year over year), operating margin 18.7%, net earnings $85.4M, operating cash flow $583K. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 28.8% | 15.5% | +13.3 pts |
| Operating margin | 18.7% | 11.9% | +6.8 pts |
| Net margin | 17.2% | 2.3% | +14.9 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Ethanol Production | $454M | $474M | −$19.1M | -4% |
| Agribusiness & Energy Services | $41.5M | $34.9M | $6.6M | +19% |
| Revenue | $496M | $508M | −$12.5M | -2% |
| Gross profit | $143M | $78.7M | $64.1M | +81% |
| Cost of revenue | $353M | $430M | −$76.6M | -18% |
| Operating profit | $92.6M | $60.4M | $32.2M | +53% |
| Operating expenses | $50.2M | $18.3M | $31.9M | +174% |
| Pre-tax earnings | $86.2M | $11.9M | $74.4M | +627% |
| Other expense, net | $6.3M | $48.5M | −$42.2M | -87% |
| Net earnings | $85.4M | $11.9M | $73.5M | +616% |
| Minority interests | $136K | −$952K | $1.1M | — |
| Income tax | $700K | $883K | −$183K | -21% |
| Operating cash sources | $111M | $39.5M | $71.5M | +181% |
| Depreciation & amortization | $23.6M | $25.0M | −$1.4M | -6% |
| Share-based compensation | $2.0M | $2.6M | −$570K | -22% |
| Working capital & other | $110M | −$270K | $111M | — |
| Operating cash flow | $583K | $39.8M | −$39.2M | -99% |
| Capital expenditures | $11.9M | $4.0M | $7.9M | +197% |
| Negative free cash flow (OCF − capex) | $11.3M | −$35.8M | $47.1M | — |
Questions
How much did Green Plains's revenue grow year over year in Q3 2026?
Green Plains's revenue fell $12.5M (-2%) from $508M in Q3 2025 to $496M in Q3 2026.
What drove Green Plains's revenue change in Q3 2026?
Ethanol Production −$19.1M (-4%); Agribusiness & Energy Services +$6.6M (+19%).