Filing Flows › Green Plains (GPRE) › Q4 2025
Green Plains (GPRE) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 10, 2026
Green Plains (GPRE) reported revenue of $429M for the fourth quarter 2025 (Q4 2025), -27% from a year earlier and -16% from the quarter before. Operating margin was -2.4%, net earnings $12.9M (3.0% of revenue).
Green Plains, Q4 2025: revenue $429M (-27% year over year), operating margin -2.4%, net earnings $12.9M, operating cash flow $67.3M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $429M | -16% | -27% |
| Operating profit | −$10.5M | -131% | — |
| Net earnings | $12.9M | +17% | — |
| Operating cash flow | $67.3M | +69% | — |
| Free cash flow | $62.0M | +73% | — |
What changed
Revenue was $428.8M in Q4 2025, down 27% year over year and down 16% from the previous quarter. Ethanol Production was the largest line at 94% of revenue.
Gross margin was 9.4%, up 8.3 points from a year earlier. Operating costs exceeded revenue by $10.5M, an operating margin of -2.4%. Operating expenses grew 8% against a revenue fall of 27%. The fastest-growing cost line was Other operating costs (+30%). Net earnings were $11.9M.
Operating cash flow was $67.3M, 522% of net income including minority interests. Non-cash charges added back $23.5M of depreciation and amortization and $3.4M of share-based compensation. Working capital and other items added $27.5M. Capital expenditures of $5.3M left free cash flow of $62.0M.
Questions
What was Green Plains' revenue in the fourth quarter 2025?
Green Plains (GPRE) reported revenue of $429M for the fourth quarter 2025 (Q4 2025), -27% from a year earlier and -16% from the quarter before.
Was Green Plains profitable in the fourth quarter 2025?
Operating loss was $10.5M (-2.4% of revenue) and net earnings $12.9M.
Source: Green Plains 10-K on SEC EDGAR.