綠色平原能源季度虧轉盈 收入4.46億美元

gpre-20260630000130940212-312026Q2false0.03162060.0636132xbrli:sharesiso4217:USDiso4217:USDxbrli:sharesgpre:segmentgpre:plantxbrli:puregpre:contractiso4217:USDgpre:galutr:D00013094022026-01-012026-06-3000013094022026-08-0300013094022026-06-3000013094022025-12-3100013094022026-04-012026-06-3000013094022025-04-012025-06-3000013094022025-01-012025-06-3000013094022024-12-3100013094022025-06-300001309402srt:ScenarioPreviouslyReportedMember2025-12-310001309402srt:RevisionOfPriorPeriodReclassificationAdjustmentMember2025-12-310001309402stpr:NE2026-06-300001309402gpre:EthanolMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2026-04-012026-06-300001309402gpre:EthanolMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2026-04-012026-06-300001309402gpre:EthanolMemberus-gaap:IntersegmentEliminationMember2026-04-012026-06-300001309402gpre:EthanolMember2026-04-012026-06-300001309402gpre:DistillerGrainsMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2026-04-012026-06-300001309402gpre:DistillerGrainsMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2026-04-012026-06-300001309402gpre:DistillerGrainsMemberus-gaap:IntersegmentEliminationMember2026-04-012026-06-300001309402gpre:DistillerGrainsMember2026-04-012026-06-300001309402gpre:ProductsAndServicesOtherMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2026-04-012026-06-300001309402gpre:ProductsAndServicesOtherMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2026-04-012026-06-300001309402gpre:ProductsAndServicesOtherMemberus-gaap:IntersegmentEliminationMember2026-04-012026-06-300001309402gpre:ProductsAndServicesOtherMember2026-04-012026-06-300001309402gpre:IntersegmentRevenuesMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2026-04-012026-06-300001309402gpre:IntersegmentRevenuesMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2026-04-012026-06-300001309402gpre:IntersegmentRevenuesMemberus-gaap:IntersegmentEliminationMember2026-04-012026-06-300001309402us-gaap:OperatingSegmentsMembergpre:EthanolProductionMember2026-04-012026-06-300001309402us-gaap:OperatingSegmentsMembergpre:AgribusinessAndEnergyServicesMember2026-04-012026-06-300001309402us-gaap:IntersegmentEliminationMember2026-04-012026-06-300001309402gpre:RenewableCornOilMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2026-04-012026-06-300001309402gpre:RenewableCornOilMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2026-04-012026-06-300001309402gpre:RenewableCornOilMemberus-gaap:IntersegmentEliminationMember2026-04-012026-06-300001309402gpre:RenewableCornOilMember2026-04-012026-06-300001309402gpre:EthanolMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2026-01-012026-06-300001309402gpre:EthanolMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2026-01-012026-06-300001309402gpre:EthanolMemberus-gaap:IntersegmentEliminationMember2026-01-012026-06-300001309402gpre:EthanolMember2026-01-012026-06-300001309402gpre:DistillerGrainsMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2026-01-012026-06-300001309402gpre:DistillerGrainsMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2026-01-012026-06-300001309402gpre:DistillerGrainsMemberus-gaap:IntersegmentEliminationMember2026-01-012026-06-300001309402gpre:DistillerGrainsMember2026-01-012026-06-300001309402gpre:ProductsAndServicesOtherMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2026-01-012026-06-300001309402gpre:ProductsAndServicesOtherMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2026-01-012026-06-300001309402gpre:ProductsAndServicesOtherMemberus-gaap:IntersegmentEliminationMember2026-01-012026-06-300001309402gpre:ProductsAndServicesOtherMember2026-01-012026-06-300001309402gpre:IntersegmentRevenuesMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2026-01-012026-06-300001309402gpre:IntersegmentRevenuesMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2026-01-012026-06-300001309402gpre:IntersegmentRevenuesMemberus-gaap:IntersegmentEliminationMember2026-01-012026-06-300001309402us-gaap:OperatingSegmentsMembergpre:EthanolProductionMember2026-01-012026-06-300001309402us-gaap:OperatingSegmentsMembergpre:AgribusinessAndEnergyServicesMember2026-01-012026-06-300001309402us-gaap:IntersegmentEliminationMember2026-01-012026-06-300001309402gpre:RenewableCornOilMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2026-01-012026-06-300001309402gpre:RenewableCornOilMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2026-01-012026-06-300001309402gpre:RenewableCornOilMemberus-gaap:IntersegmentEliminationMember2026-01-012026-06-300001309402gpre:RenewableCornOilMember2026-01-012026-06-300001309402gpre:EthanolMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2025-04-012025-06-300001309402gpre:EthanolMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2025-04-012025-06-300001309402gpre:EthanolMemberus-gaap:IntersegmentEliminationMember2025-04-012025-06-300001309402gpre:EthanolMember2025-04-012025-06-300001309402gpre:DistillerGrainsMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2025-04-012025-06-300001309402gpre:DistillerGrainsMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2025-04-012025-06-300001309402gpre:DistillerGrainsMemberus-gaap:IntersegmentEliminationMember2025-04-012025-06-300001309402gpre:DistillerGrainsMember2025-04-012025-06-300001309402gpre:ProductsAndServicesOtherMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2025-04-012025-06-300001309402gpre:ProductsAndServicesOtherMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2025-04-012025-06-300001309402gpre:ProductsAndServicesOtherMemberus-gaap:IntersegmentEliminationMember2025-04-012025-06-300001309402gpre:ProductsAndServicesOtherMember2025-04-012025-06-300001309402gpre:IntersegmentRevenuesMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2025-04-012025-06-300001309402gpre:IntersegmentRevenuesMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2025-04-012025-06-300001309402gpre:IntersegmentRevenuesMemberus-gaap:IntersegmentEliminationMember2025-04-012025-06-300001309402us-gaap:OperatingSegmentsMembergpre:EthanolProductionMember2025-04-012025-06-300001309402us-gaap:OperatingSegmentsMembergpre:AgribusinessAndEnergyServicesMember2025-04-012025-06-300001309402us-gaap:IntersegmentEliminationMember2025-04-012025-06-300001309402gpre:RenewableCornOilMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2025-04-012025-06-300001309402gpre:RenewableCornOilMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2025-04-012025-06-300001309402gpre:RenewableCornOilMemberus-gaap:IntersegmentEliminationMember2025-04-012025-06-300001309402gpre:RenewableCornOilMember2025-04-012025-06-300001309402gpre:EthanolMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2025-01-012025-06-300001309402gpre:EthanolMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2025-01-012025-06-300001309402gpre:EthanolMemberus-gaap:IntersegmentEliminationMember2025-01-012025-06-300001309402gpre:EthanolMember2025-01-012025-06-300001309402gpre:DistillerGrainsMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2025-01-012025-06-300001309402gpre:DistillerGrainsMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2025-01-012025-06-300001309402gpre:DistillerGrainsMemberus-gaap:IntersegmentEliminationMember2025-01-012025-06-300001309402gpre:DistillerGrainsMember2025-01-012025-06-300001309402gpre:ProductsAndServicesOtherMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2025-01-012025-06-300001309402gpre:ProductsAndServicesOtherMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2025-01-012025-06-300001309402gpre:ProductsAndServicesOtherMemberus-gaap:IntersegmentEliminationMember2025-01-012025-06-300001309402gpre:ProductsAndServicesOtherMember2025-01-012025-06-300001309402gpre:IntersegmentRevenuesMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2025-01-012025-06-300001309402gpre:IntersegmentRevenuesMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2025-01-012025-06-300001309402gpre:IntersegmentRevenuesMemberus-gaap:IntersegmentEliminationMember2025-01-012025-06-300001309402us-gaap:OperatingSegmentsMembergpre:EthanolProductionMember2025-01-012025-06-300001309402us-gaap:OperatingSegmentsMembergpre:AgribusinessAndEnergyServicesMember2025-01-012025-06-300001309402us-gaap:IntersegmentEliminationMember2025-01-012025-06-300001309402gpre:RenewableCornOilMembergpre:EthanolProductionMemberus-gaap:OperatingSegmentsMember2025-01-012025-06-300001309402gpre:RenewableCornOilMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:OperatingSegmentsMember2025-01-012025-06-300001309402gpre:RenewableCornOilMemberus-gaap:IntersegmentEliminationMember2025-01-012025-06-300001309402gpre:RenewableCornOilMember2025-01-012025-06-300001309402us-gaap:CustomerConcentrationRiskMembergpre:CustomerAMemberus-gaap:SalesRevenueNetMember2026-04-012026-06-300001309402us-gaap:CustomerConcentrationRiskMembergpre:CustomerAMemberus-gaap:SalesRevenueNetMember2026-01-012026-06-300001309402us-gaap:CustomerConcentrationRiskMembergpre:CustomerAMemberus-gaap:SalesRevenueNetMember2025-04-012025-06-300001309402us-gaap:CustomerConcentrationRiskMembergpre:CustomerAMemberus-gaap:SalesRevenueNetMember2025-01-012025-06-300001309402us-gaap:DiscontinuedOperationsDisposedOfBySaleMembergpre:ProventusLLCMember2025-05-312025-05-310001309402us-gaap:DiscontinuedOperationsDisposedOfBySaleMembergpre:ProventusLLCMember2025-05-310001309402us-gaap:DiscontinuedOperationsDisposedOfBySaleMembergpre:GPTurnkeyTharaldsonLLCMember2025-06-302025-06-300001309402us-gaap:DiscontinuedOperationsDisposedOfBySaleMembergpre:GPTurnkeyTharaldsonLLCMember2025-06-300001309402us-gaap:FairValueInputsLevel1Member2026-06-300001309402us-gaap:FairValueInputsLevel2Member2026-06-300001309402us-gaap:FairValueInputsLevel3Member2026-06-300001309402us-gaap:FairValueInputsLevel1Member2025-12-310001309402us-gaap:FairValueInputsLevel2Member2025-12-310001309402us-gaap:FairValueInputsLevel3Member2025-12-310001309402us-gaap:DiscontinuedOperationsHeldForSaleOrDisposedOfBySaleMember2025-12-310001309402gpre:EthanolProductionMember2026-04-012026-06-300001309402gpre:EthanolProductionMember2025-04-012025-06-300001309402gpre:EthanolProductionMember2026-01-012026-06-300001309402gpre:EthanolProductionMember2025-01-012025-06-300001309402us-gaap:IntersegmentEliminationMembergpre:EthanolProductionMember2026-04-012026-06-300001309402us-gaap:IntersegmentEliminationMembergpre:EthanolProductionMember2025-04-012025-06-300001309402us-gaap:IntersegmentEliminationMembergpre:EthanolProductionMember2026-01-012026-06-300001309402us-gaap:IntersegmentEliminationMembergpre:EthanolProductionMember2025-01-012025-06-300001309402gpre:AgribusinessAndEnergyServicesMember2026-04-012026-06-300001309402gpre:AgribusinessAndEnergyServicesMember2025-04-012025-06-300001309402gpre:AgribusinessAndEnergyServicesMember2026-01-012026-06-300001309402gpre:AgribusinessAndEnergyServicesMember2025-01-012025-06-300001309402us-gaap:IntersegmentEliminationMembergpre:AgribusinessAndEnergyServicesMember2026-04-012026-06-300001309402us-gaap:IntersegmentEliminationMembergpre:AgribusinessAndEnergyServicesMember2025-04-012025-06-300001309402us-gaap:IntersegmentEliminationMembergpre:AgribusinessAndEnergyServicesMember2026-01-012026-06-300001309402us-gaap:IntersegmentEliminationMembergpre:AgribusinessAndEnergyServicesMember2025-01-012025-06-300001309402us-gaap:OperatingSegmentsMember2026-04-012026-06-300001309402us-gaap:OperatingSegmentsMember2025-04-012025-06-300001309402us-gaap:OperatingSegmentsMember2026-01-012026-06-300001309402us-gaap:OperatingSegmentsMember2025-01-012025-06-300001309402us-gaap:CorporateNonSegmentMember2026-04-012026-06-300001309402us-gaap:CorporateNonSegmentMember2025-04-012025-06-300001309402us-gaap:CorporateNonSegmentMember2026-01-012026-06-300001309402us-gaap:CorporateNonSegmentMember2025-01-012025-06-300001309402gpre:AgribusinessAndEnergyServicesMemberus-gaap:CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortizationus-gaap:OperatingSegmentsMember2026-04-012026-06-300001309402gpre:AgribusinessAndEnergyServicesMemberus-gaap:CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortizationus-gaap:OperatingSegmentsMember2026-01-012026-06-300001309402gpre:AgribusinessAndEnergyServicesMemberus-gaap:SellingGeneralAndAdministrativeExpenseus-gaap:OperatingSegmentsMember2026-04-012026-06-300001309402gpre:AgribusinessAndEnergyServicesMemberus-gaap:SellingGeneralAndAdministrativeExpenseus-gaap:OperatingSegmentsMember2026-01-012026-06-300001309402us-gaap:CorporateNonSegmentMemberus-gaap:OperatingExpenses2025-04-012025-06-300001309402us-gaap:CorporateNonSegmentMemberus-gaap:OperatingExpenses2025-01-012025-06-300001309402gpre:EthanolProductionMemberus-gaap:CostOfRevenueus-gaap:OperatingSegmentsMember2025-04-012025-06-300001309402gpre:AgribusinessAndEnergyServicesMemberus-gaap:CostOfRevenueus-gaap:OperatingSegmentsMember2025-04-012025-06-300001309402us-gaap:CorporateNonSegmentMemberus-gaap:CostOfRevenue2025-04-012025-06-300001309402us-gaap:CostOfRevenue2025-04-012025-06-300001309402gpre:EthanolProductionMemberus-gaap:SellingGeneralAndAdministrativeExpenseus-gaap:OperatingSegmentsMember2025-04-012025-06-300001309402gpre:AgribusinessAndEnergyServicesMemberus-gaap:SellingGeneralAndAdministrativeExpenseus-gaap:OperatingSegmentsMember2025-04-012025-06-300001309402us-gaap:CorporateNonSegmentMemberus-gaap:SellingGeneralAndAdministrativeExpense2025-04-012025-06-300001309402us-gaap:SellingGeneralAndAdministrativeExpense2025-04-012025-06-300001309402gpre:EthanolProductionMemberus-gaap:OtherNonoperatingIncomeExpenseus-gaap:OperatingSegmentsMember2025-04-012025-06-300001309402gpre:AgribusinessAndEnergyServicesMemberus-gaap:OtherNonoperatingIncomeExpenseus-gaap:OperatingSegmentsMember2025-04-012025-06-300001309402us-gaap:CorporateNonSegmentMemberus-gaap:OtherNonoperatingIncomeExpense2025-04-012025-06-300001309402us-gaap:OtherNonoperatingIncomeExpense2025-04-012025-06-300001309402gpre:EthanolProductionMemberus-gaap:CostOfRevenueus-gaap:OperatingSegmentsMember2025-01-012025-06-300001309402gpre:AgribusinessAndEnergyServicesMemberus-gaap:CostOfRevenueus-gaap:OperatingSegmentsMember2025-01-012025-06-300001309402us-gaap:CorporateNonSegmentMemberus-gaap:CostOfRevenue2025-01-012025-06-300001309402us-gaap:CostOfRevenue2025-01-012025-06-300001309402gpre:EthanolProductionMemberus-gaap:SellingGeneralAndAdministrativeExpenseus-gaap:OperatingSegmentsMember2025-01-012025-06-300001309402gpre:AgribusinessAndEnergyServicesMemberus-gaap:SellingGeneralAndAdministrativeExpenseus-gaap:OperatingSegmentsMember2025-01-012025-06-300001309402us-gaap:CorporateNonSegmentMemberus-gaap:SellingGeneralAndAdministrativeExpense2025-01-012025-06-300001309402us-gaap:SellingGeneralAndAdministrativeExpense2025-01-012025-06-300001309402gpre:EthanolProductionMemberus-gaap:OtherNonoperatingIncomeExpenseus-gaap:OperatingSegmentsMember2025-01-012025-06-300001309402gpre:AgribusinessAndEnergyServicesMemberus-gaap:OtherNonoperatingIncomeExpenseus-gaap:OperatingSegmentsMember2025-01-012025-06-300001309402us-gaap:CorporateNonSegmentMemberus-gaap:OtherNonoperatingIncomeExpense2025-01-012025-06-300001309402us-gaap:OtherNonoperatingIncomeExpense2025-01-012025-06-300001309402us-gaap:OperatingSegmentsMembergpre:EthanolProductionMember2026-06-300001309402us-gaap:OperatingSegmentsMembergpre:EthanolProductionMember2025-12-310001309402us-gaap:OperatingSegmentsMembergpre:AgribusinessAndEnergyServicesMember2026-06-300001309402us-gaap:OperatingSegmentsMembergpre:AgribusinessAndEnergyServicesMember2025-12-310001309402us-gaap:CorporateNonSegmentMember2026-06-300001309402us-gaap:CorporateNonSegmentMember2025-12-310001309402us-gaap:IntersegmentEliminationMember2026-06-300001309402us-gaap:IntersegmentEliminationMember2025-12-310001309402us-gaap:DerivativeAssetsCurrent2026-06-300001309402us-gaap:DerivativeAssetsCurrent2025-12-310001309402us-gaap:DerivativeLiabilitiesCurrent2026-06-300001309402us-gaap:DerivativeLiabilitiesCurrent2025-12-310001309402us-gaap:OtherAssetsNoncurrent2026-06-300001309402us-gaap:OtherAssetsNoncurrent2025-12-310001309402us-gaap:OtherLiabilitiesNoncurrent2026-06-300001309402us-gaap:OtherLiabilitiesNoncurrent2025-12-3100013094022025-01-012025-12-310001309402us-gaap:CashFlowHedgingMember2025-01-012025-12-310001309402us-gaap:FairValueHedgingMember2025-01-012025-12-310001309402gpre:ExchangedTradedFuturesAndOptionsContractsMember2026-01-012026-06-300001309402gpre:ExchangedTradedFuturesAndOptionsContractsMemberus-gaap:CashFlowHedgingMember2026-01-012026-06-300001309402gpre:ExchangedTradedFuturesAndOptionsContractsMemberus-gaap:FairValueHedgingMember2026-01-012026-06-300001309402us-gaap:Revenues2026-04-012026-06-300001309402us-gaap:Revenues2025-04-012025-06-300001309402us-gaap:Revenues2026-01-012026-06-300001309402us-gaap:Revenues2025-01-012025-06-300001309402us-gaap:CostOfRevenue2026-04-012026-06-300001309402us-gaap:CostOfRevenue2026-01-012026-06-300001309402us-gaap:CommodityContractMember2026-04-012026-06-300001309402us-gaap:CommodityContractMember2025-04-012025-06-300001309402us-gaap:CommodityContractMember2026-01-012026-06-300001309402us-gaap:CommodityContractMember2025-01-012025-06-300001309402us-gaap:NondesignatedMemberus-gaap:Revenuesgpre:ExchangeTradedFuturesAndOptionsMember2026-04-012026-06-300001309402us-gaap:NondesignatedMemberus-gaap:Revenuesgpre:ExchangeTradedFuturesAndOptionsMember2025-04-012025-06-300001309402us-gaap:NondesignatedMemberus-gaap:Revenuesgpre:ExchangeTradedFuturesAndOptionsMember2026-01-012026-06-300001309402us-gaap:NondesignatedMemberus-gaap:Revenuesgpre:ExchangeTradedFuturesAndOptionsMember2025-01-012025-06-300001309402us-gaap:NondesignatedMemberus-gaap:Revenuesus-gaap:ForwardContractsMember2026-04-012026-06-300001309402us-gaap:NondesignatedMemberus-gaap:Revenuesus-gaap:ForwardContractsMember2025-04-012025-06-300001309402us-gaap:NondesignatedMemberus-gaap:Revenuesus-gaap:ForwardContractsMember2026-01-012026-06-300001309402us-gaap:NondesignatedMemberus-gaap:Revenuesus-gaap:ForwardContractsMember2025-01-012025-06-300001309402us-gaap:NondesignatedMemberus-gaap:CostOfRevenuegpre:ExchangeTradedFuturesAndOptionsMember2026-04-012026-06-300001309402us-gaap:NondesignatedMemberus-gaap:CostOfRevenuegpre:ExchangeTradedFuturesAndOptionsMember2025-04-012025-06-300001309402us-gaap:NondesignatedMemberus-gaap:CostOfRevenuegpre:ExchangeTradedFuturesAndOptionsMember2026-01-012026-06-300001309402us-gaap:NondesignatedMemberus-gaap:CostOfRevenuegpre:ExchangeTradedFuturesAndOptionsMember2025-01-012025-06-300001309402us-gaap:NondesignatedMemberus-gaap:CostOfRevenueus-gaap:ForwardContractsMember2026-04-012026-06-300001309402us-gaap:NondesignatedMemberus-gaap:CostOfRevenueus-gaap:ForwardContractsMember2025-04-012025-06-300001309402us-gaap:NondesignatedMemberus-gaap:CostOfRevenueus-gaap:ForwardContractsMember2026-01-012026-06-300001309402us-gaap:NondesignatedMemberus-gaap:CostOfRevenueus-gaap:ForwardContractsMember2025-01-012025-06-300001309402us-gaap:NondesignatedMember2026-04-012026-06-300001309402us-gaap:NondesignatedMember2025-04-012025-06-300001309402us-gaap:NondesignatedMember2026-01-012026-06-300001309402us-gaap:NondesignatedMember2025-01-012025-06-300001309402gpre:ExchangeFutureMemberus-gaap:Revenues2026-04-012026-06-300001309402gpre:ExchangeFutureMemberus-gaap:CostOfRevenue2026-04-012026-06-300001309402gpre:ExchangeFutureMemberus-gaap:Revenues2025-04-012025-06-300001309402gpre:ExchangeFutureMemberus-gaap:CostOfRevenue2025-04-012025-06-300001309402us-gaap:CommodityContractMemberus-gaap:Revenues2026-04-012026-06-300001309402us-gaap:CommodityContractMemberus-gaap:CostOfRevenue2026-04-012026-06-300001309402us-gaap:CommodityContractMemberus-gaap:Revenues2025-04-012025-06-300001309402us-gaap:CommodityContractMemberus-gaap:CostOfRevenue2025-04-012025-06-300001309402gpre:ExchangeFutureMemberus-gaap:Revenues2026-01-012026-06-300001309402gpre:ExchangeFutureMemberus-gaap:CostOfRevenue2026-01-012026-06-300001309402gpre:ExchangeFutureMemberus-gaap:Revenues2025-01-012025-06-300001309402gpre:ExchangeFutureMemberus-gaap:CostOfRevenue2025-01-012025-06-300001309402us-gaap:CommodityContractMemberus-gaap:Revenues2026-01-012026-06-300001309402us-gaap:CommodityContractMemberus-gaap:CostOfRevenue2026-01-012026-06-300001309402us-gaap:CommodityContractMemberus-gaap:Revenues2025-01-012025-06-300001309402us-gaap:CommodityContractMemberus-gaap:CostOfRevenue2025-01-012025-06-300001309402us-gaap:FutureMemberus-gaap:ExchangeTradedMemberus-gaap:ShortMembergpre:CornInBushelsMember2026-06-300001309402us-gaap:FutureMembergpre:CornInBushelsMemberus-gaap:CashFlowHedgingMemberus-gaap:ExchangeTradedMemberus-gaap:LongMember2026-06-300001309402us-gaap:FutureMemberus-gaap:ExchangeTradedMemberus-gaap:ShortMembergpre:EthanolInGallonsMember2026-06-300001309402us-gaap:FutureMembergpre:EthanolInGallonsMemberus-gaap:CashFlowHedgingMemberus-gaap:ExchangeTradedMemberus-gaap:ShortMember2026-06-300001309402us-gaap:FutureMemberus-gaap:ExchangeTradedMemberus-gaap:ShortMembergpre:NaturalGasMember2026-06-300001309402us-gaap:FutureMembergpre:NaturalGasMemberus-gaap:CashFlowHedgingMemberus-gaap:ExchangeTradedMemberus-gaap:LongMember2026-06-300001309402us-gaap:FutureMembergpre:NaturalGasMemberus-gaap:FairValueHedgingMemberus-gaap:ExchangeTradedMemberus-gaap:ShortMember2026-06-300001309402us-gaap:FutureMemberus-gaap:ExchangeTradedMemberus-gaap:ShortMembergpre:SoybeanOilMember2026-06-300001309402us-gaap:OptionMemberus-gaap:ExchangeTradedMemberus-gaap:LongMembergpre:SoybeanOilMember2026-06-300001309402us-gaap:OptionMemberus-gaap:ExchangeTradedMemberus-gaap:LongMembergpre:NaturalGasMember2026-06-300001309402us-gaap:ForwardContractsMemberus-gaap:OverTheCounterMemberus-gaap:LongMembergpre:CornInBushelsMember2026-06-300001309402us-gaap:ForwardContractsMemberus-gaap:OverTheCounterMemberus-gaap:ShortMembergpre:CornInBushelsMember2026-06-300001309402us-gaap:ForwardContractsMemberus-gaap:OverTheCounterMemberus-gaap:LongMembergpre:EthanolInGallonsMember2026-06-300001309402us-gaap:ForwardContractsMemberus-gaap:OverTheCounterMemberus-gaap:ShortMembergpre:EthanolInGallonsMember2026-06-300001309402us-gaap:ForwardContractsMemberus-gaap:OverTheCounterMemberus-gaap:LongMembergpre:DistillersGrainsInTonsMember2026-06-300001309402us-gaap:ForwardContractsMemberus-gaap:OverTheCounterMemberus-gaap:ShortMembergpre:DistillersGrainsInTonsMember2026-06-300001309402us-gaap:ForwardContractsMemberus-gaap:OverTheCounterMemberus-gaap:LongMembergpre:CornOilInPoundsMember2026-06-300001309402us-gaap:ForwardContractsMemberus-gaap:OverTheCounterMemberus-gaap:ShortMembergpre:CornOilInPoundsMember2026-06-300001309402us-gaap:ForwardContractsMemberus-gaap:OverTheCounterMemberus-gaap:LongMembergpre:NaturalGasMember2026-06-300001309402us-gaap:ForwardContractsMemberus-gaap:OverTheCounterMemberus-gaap:ShortMembergpre:NaturalGasMember2026-06-300001309402us-gaap:ConvertibleNotesPayableMembergpre:ConvertibleNotesDue2027Memberus-gaap:CorporateNonSegmentMember2026-06-300001309402us-gaap:ConvertibleNotesPayableMembergpre:ConvertibleNotesDue2027Memberus-gaap:CorporateNonSegmentMember2025-12-310001309402us-gaap:ConvertibleNotesPayableMembergpre:ConvertibleNotesDue2030Memberus-gaap:CorporateMember2026-06-300001309402us-gaap:ConvertibleNotesPayableMembergpre:ConvertibleNotesDue2030Memberus-gaap:CorporateMember2025-12-310001309402gpre:LoanAgreementMembergpre:GreenPlainsWoodRiverAndGreenPlainsShenandoahMember2026-06-300001309402gpre:LoanAgreementMembergpre:GreenPlainsWoodRiverAndGreenPlainsShenandoahMember2025-12-310001309402us-gaap:SecuredDebtMembergpre:TallgrassTermLoanDue2038Membergpre:GreenPlainsCentralCityCaptureCompanyLLCMember2026-06-300001309402us-gaap:SecuredDebtMembergpre:TallgrassTermLoanDue2038Membergpre:GreenPlainsCentralCityCaptureCompanyLLCMember2025-12-310001309402us-gaap:SecuredDebtMembergpre:TallgrassTermLoanDue2038Membergpre:GreenPlainsWoodRiverCaptureCompanyLLCMember2026-06-300001309402us-gaap:SecuredDebtMembergpre:TallgrassTermLoanDue2038Membergpre:GreenPlainsWoodRiverCaptureCompanyLLCMember2025-12-310001309402us-gaap:SecuredDebtMembergpre:TallgrassTermLoanDue2037Membergpre:GreenPlainsYorkCaptureCompanyLLCMember2026-06-300001309402us-gaap:SecuredDebtMembergpre:TallgrassTermLoanDue2037Membergpre:GreenPlainsYorkCaptureCompanyLLCMember2025-12-310001309402us-gaap:OtherDebtSecuritiesMember2026-06-300001309402us-gaap:OtherDebtSecuritiesMember2025-12-310001309402gpre:RevolverFacilityMember2026-04-170001309402gpre:RevolverFacilityMember2026-06-300001309402gpre:RevolverFacilityMember2025-12-310001309402gpre:GreenPlainsCommodityManagementMembergpre:HedgeLine40.0MillionMember2026-06-300001309402gpre:GreenPlainsCommodityManagementMembergpre:HedgeLine40.0MillionMember2025-12-310001309402us-gaap:ConvertibleNotesPayableMembergpre:ConvertibleNotesDue2027Memberus-gaap:CorporateNonSegmentMember2021-03-310001309402us-gaap:ConvertibleNotesPayableMembergpre:ConvertibleNotesDue2027Memberus-gaap:CorporateMember2021-03-310001309402us-gaap:ConvertibleNotesPayableMembergpre:ConvertibleNotesDue2027Memberus-gaap:CorporateMember2021-01-012021-03-310001309402us-gaap:ConvertibleNotesPayableMembergpre:ConvertibleNotesDue2027Memberus-gaap:CorporateNonSegmentMember2025-10-260001309402us-gaap:ConvertibleNotesPayableMembergpre:ConvertibleNotesDue2027Memberus-gaap:CorporateNonSegmentMember2025-10-270001309402us-gaap:ConvertibleDebtMembergpre:ConvertibleSeniorNotesDue2030Member2025-10-270001309402us-gaap:ConvertibleDebtMembergpre:ConvertibleSeniorNotesDue2030Member2025-10-272025-10-270001309402us-gaap:ConvertibleDebtMembergpre:ConvertibleSeniorNotesDue2030Member2026-06-300001309402gpre:LoanAgreementMembersrt:MinimumMembergpre:GreenPlainsWoodRiverAndGreenPlainsShenandoahMember2026-01-012026-06-300001309402gpre:LoanAgreementMembersrt:MaximumMembergpre:GreenPlainsWoodRiverAndGreenPlainsShenandoahMember2026-01-012026-06-300001309402gpre:LoanAgreementMembergpre:GreenPlainsWoodRiverAndGreenPlainsShenandoahMember2026-01-012026-06-300001309402us-gaap:MediumTermNotesMembergpre:GreenPlainsCentralCityCaptureCompanyGreenPlainsWoodRiverCaptureCompanyLLCGreenPlainsYorkCaptureCompanyLLCMembergpre:TallgrassHighPlainsCarbonStorageLLCMember2023-07-240001309402us-gaap:MediumTermNotesMembergpre:GreenPlainsCentralCityCaptureCompanyGreenPlainsWoodRiverCaptureCompanyLLCGreenPlainsYorkCaptureCompanyLLCMembergpre:TallgrassHighPlainsCarbonStorageLLCMember2023-07-242023-07-240001309402us-gaap:MediumTermNotesMembergpre:GreenPlainsCentralCityCaptureCompanyGreenPlainsWoodRiverCaptureCompanyLLCGreenPlainsYorkCaptureCompanyLLCMembergpre:TallgrassHighPlainsCarbonStorageLLCMember2026-06-300001309402gpre:CreditFacilityMembergpre:RevolverFacilityMembergpre:AgribusinessAndEnergyServicesMember2022-03-252022-03-250001309402gpre:CreditFacilityMembergpre:RevolverFacilityMembergpre:AgribusinessAndEnergyServicesMember2022-03-250001309402gpre:RevolverFacilityMember2026-04-160001309402us-gaap:RevolvingCreditFacilityMembergpre:RevolverFacilityMembergpre:AgribusinessAndEnergyServicesMember2026-06-300001309402us-gaap:RevolvingCreditFacilityMembergpre:RevolverFacilityMembergpre:AgribusinessAndEnergyServicesMember2026-01-012026-06-300001309402us-gaap:RevolvingCreditFacilityMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMembergpre:RevolverFacilityMembersrt:MinimumMember2026-01-012026-06-300001309402us-gaap:RevolvingCreditFacilityMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMembergpre:RevolverFacilityMembersrt:MaximumMember2026-01-012026-06-300001309402us-gaap:RevolvingCreditFacilityMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:BaseRateMembergpre:RevolverFacilityMembersrt:MinimumMember2026-01-012026-06-300001309402us-gaap:RevolvingCreditFacilityMembergpre:AgribusinessAndEnergyServicesMemberus-gaap:BaseRateMembergpre:RevolverFacilityMembersrt:MaximumMember2026-01-012026-06-300001309402us-gaap:RevolvingCreditFacilityMembergpre:RevolverFacilityMembergpre:AgribusinessAndEnergyServicesMembersrt:MinimumMember2026-01-012026-06-300001309402us-gaap:RevolvingCreditFacilityMembergpre:RevolverFacilityMembergpre:AgribusinessAndEnergyServicesMembersrt:MaximumMember2026-01-012026-06-300001309402gpre:RevolverFacilityMembergpre:AgribusinessAndEnergyServicesMember2026-01-012026-06-300001309402gpre:RevolverFacilityMembergpre:AgribusinessAndEnergyServicesMember2026-06-300001309402us-gaap:RevolvingCreditFacilityMembergpre:AgribusinessAndEnergyServicesMembergpre:GreenPlainsCommodityManagementMember2026-06-300001309402us-gaap:RevolvingCreditFacilityMembergpre:AgribusinessAndEnergyServicesMembergpre:GreenPlainsCommodityManagementMemberus-gaap:SecuredOvernightFinancingRateSofrMember2026-01-012026-06-300001309402gpre:CreditFacilityMembergpre:RevolverFacilityMembergpre:AgribusinessAndEnergyServicesMember2026-06-300001309402gpre:GreenPlainsGrainMembergpre:InventoryFinancing500MillionMember2026-06-300001309402us-gaap:ConvertibleNotesPayableMembergpre:ConvertibleNotesDue2027Memberus-gaap:CorporateNonSegmentMember2021-03-012021-03-310001309402gpre:RestrictedStockAwardsAndDeferredStockUnitsMember2025-12-310001309402gpre:RestrictedStockAwardsAndDeferredStockUnitsMember2026-01-012026-06-300001309402gpre:RestrictedStockAwardsAndDeferredStockUnitsMember2026-06-300001309402us-gaap:PerformanceSharesMember2026-01-012026-06-300001309402us-gaap:PerformanceSharesMember2026-06-300001309402us-gaap:ShareBasedCompensationAwardTrancheOneMemberus-gaap:PerformanceSharesMember2026-01-012026-06-300001309402us-gaap:ShareBasedCompensationAwardTrancheOneMemberus-gaap:PerformanceSharesMember2026-06-300001309402us-gaap:PerformanceSharesMember2022-03-142022-03-140001309402us-gaap:PerformanceSharesMember2025-03-142025-03-140001309402us-gaap:PerformanceSharesMember2025-12-310001309402us-gaap:ConvertibleNotesPayableMembergpre:ConvertibleNotesDue2027Memberus-gaap:CorporateNonSegmentMember2026-04-012026-06-300001309402us-gaap:ConvertibleNotesPayableMembergpre:ConvertibleNotesDue2027Memberus-gaap:CorporateNonSegmentMember2025-04-012025-06-300001309402us-gaap:ConvertibleNotesPayableMembergpre:ConvertibleNotesDue2027Memberus-gaap:CorporateNonSegmentMember2026-01-012026-06-300001309402us-gaap:ConvertibleNotesPayableMembergpre:ConvertibleNotesDue2027Memberus-gaap:CorporateNonSegmentMember2025-01-012025-06-300001309402us-gaap:ConvertibleNotesPayableMembergpre:ConvertibleNotesDue2030Memberus-gaap:CorporateMember2026-04-012026-06-300001309402us-gaap:ConvertibleNotesPayableMembergpre:ConvertibleNotesDue2030Memberus-gaap:CorporateMember2025-04-012025-06-300001309402us-gaap:ConvertibleNotesPayableMembergpre:ConvertibleNotesDue2030Memberus-gaap:CorporateMember2026-01-012026-06-300001309402us-gaap:ConvertibleNotesPayableMembergpre:ConvertibleNotesDue2030Memberus-gaap:CorporateMember2025-01-012025-06-300001309402us-gaap:PrivatePlacementMember2026-06-162026-06-160001309402us-gaap:PrivatePlacementMember2026-06-160001309402gpre:FQTMember2026-05-082026-05-080001309402us-gaap:CommonStockMember2025-12-310001309402us-gaap:AdditionalPaidInCapitalMember2025-12-310001309402us-gaap:RetainedEarningsMember2025-12-310001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-12-310001309402us-gaap:TreasuryStockCommonMember2025-12-310001309402us-gaap:ParentMember2025-12-310001309402us-gaap:NoncontrollingInterestMember2025-12-310001309402us-gaap:RetainedEarningsMember2026-01-012026-03-310001309402us-gaap:ParentMember2026-01-012026-03-310001309402us-gaap:NoncontrollingInterestMember2026-01-012026-03-3100013094022026-01-012026-03-310001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-01-012026-03-310001309402us-gaap:CommonStockMember2026-01-012026-03-310001309402us-gaap:AdditionalPaidInCapitalMember2026-01-012026-03-310001309402us-gaap:CommonStockMember2026-03-310001309402us-gaap:AdditionalPaidInCapitalMember2026-03-310001309402us-gaap:RetainedEarningsMember2026-03-310001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-03-310001309402us-gaap:TreasuryStockCommonMember2026-03-310001309402us-gaap:ParentMember2026-03-310001309402us-gaap:NoncontrollingInterestMember2026-03-3100013094022026-03-310001309402us-gaap:RetainedEarningsMember2026-04-012026-06-300001309402us-gaap:ParentMember2026-04-012026-06-300001309402us-gaap:NoncontrollingInterestMember2026-04-012026-06-300001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-04-012026-06-300001309402us-gaap:AdditionalPaidInCapitalMember2026-04-012026-06-300001309402us-gaap:CommonStockMember2026-04-012026-06-300001309402us-gaap:CommonStockMember2026-06-300001309402us-gaap:AdditionalPaidInCapitalMember2026-06-300001309402us-gaap:RetainedEarningsMember2026-06-300001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-06-300001309402us-gaap:TreasuryStockCommonMember2026-06-300001309402us-gaap:ParentMember2026-06-300001309402us-gaap:NoncontrollingInterestMember2026-06-300001309402us-gaap:CommonStockMember2024-12-310001309402us-gaap:AdditionalPaidInCapitalMember2024-12-310001309402us-gaap:RetainedEarningsMember2024-12-310001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-12-310001309402us-gaap:TreasuryStockCommonMember2024-12-310001309402us-gaap:ParentMember2024-12-310001309402us-gaap:NoncontrollingInterestMember2024-12-310001309402us-gaap:RetainedEarningsMember2025-01-012025-03-310001309402us-gaap:ParentMember2025-01-012025-03-310001309402us-gaap:NoncontrollingInterestMember2025-01-012025-03-3100013094022025-01-012025-03-310001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-01-012025-03-310001309402us-gaap:CommonStockMember2025-01-012025-03-310001309402us-gaap:AdditionalPaidInCapitalMember2025-01-012025-03-310001309402us-gaap:CommonStockMember2025-03-310001309402us-gaap:AdditionalPaidInCapitalMember2025-03-310001309402us-gaap:RetainedEarningsMember2025-03-310001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-03-310001309402us-gaap:TreasuryStockCommonMember2025-03-310001309402us-gaap:ParentMember2025-03-310001309402us-gaap:NoncontrollingInterestMember2025-03-3100013094022025-03-310001309402us-gaap:RetainedEarningsMember2025-04-012025-06-300001309402us-gaap:ParentMember2025-04-012025-06-300001309402us-gaap:NoncontrollingInterestMember2025-04-012025-06-300001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-04-012025-06-300001309402us-gaap:AdditionalPaidInCapitalMember2025-04-012025-06-300001309402us-gaap:CommonStockMember2025-04-012025-06-300001309402us-gaap:CommonStockMember2025-06-300001309402us-gaap:AdditionalPaidInCapitalMember2025-06-300001309402us-gaap:RetainedEarningsMember2025-06-300001309402us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-06-300001309402us-gaap:TreasuryStockCommonMember2025-06-300001309402us-gaap:ParentMember2025-06-300001309402us-gaap:NoncontrollingInterestMember2025-06-300001309402us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:CommodityContractMemberus-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember2026-04-012026-06-300001309402us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:CommodityContractMemberus-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember2025-04-012025-06-300001309402us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:CommodityContractMemberus-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember2026-01-012026-06-300001309402us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:CommodityContractMemberus-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember2025-01-012025-06-300001309402us-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2026-04-012026-06-300001309402us-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2025-04-012025-06-300001309402us-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2026-01-012026-06-300001309402us-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2025-01-012025-06-300001309402us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2026-04-012026-06-300001309402us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2025-04-012025-06-300001309402us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2026-01-012026-06-300001309402us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2025-01-012025-06-300001309402srt:MinimumMember2026-06-300001309402srt:MaximumMember2026-06-300001309402gpre:FiveYearLeaseTermMember2026-06-300001309402gpre:TallgrassHighPlainsCarbonStorageLLCMember2026-01-012026-06-300001309402us-gaap:ConstructionInProgressMember2026-06-30

Table of Contents

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________
FORM 10-Q
(Mark One)
☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the Quarterly Period Ended June 30, 2026
OR
☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the transition period from ______ to ______ 
Commission File Number 001-32924
GREEN PLAINS INC. 
(Exact name of registrant as specified in its charter)

Iowa84-1652107
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)

1811 Aksarben Drive, Omaha, NE 68106
(402) 884-8700

(Address of principal executive offices, including zip code)(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading SymbolName of each exchange on which registered
Common Stock, par value $0.001 per shareGPREThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
☒ Yes ☐ No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
☒ Yes ☐ No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐
Accelerated filer ☒

Non-accelerated filer ☐

Smaller reporting company ☐
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
☐ Yes ☒ No
The registrant had 70,095,328 common stock outstanding as of August 3, 2026.

Table of Contents

TABLE OF CONTENTS

Page
Commonly Used Defined Terms
3

PART I – FINANCIAL INFORMATION

Item 1.
Financial Statements
4

Consolidated Balance Sheets 
4

Consolidated Statements of Operations
5

Consolidated Statements of Comprehensive Income (Loss) 
6

Consolidated Statements of Cash Flows 
7

Notes to Consolidated Financial Statements 
9

Item 2.
Management’s Discussion and Analysis of Financial Condition and Results of Operations 
35

Item 3.
Quantitative and Qualitative Disclosures About Market Risk 
49

Item 4.
Controls and Procedures
50

PART II – OTHER INFORMATION

Item 1.
Legal Proceedings
52

Item 1A.
Risk Factors
52

Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds
52

Item 3.
Defaults Upon Senior Securities
52

Item 4.
Mine Safety Disclosures
52

Item 5.
Other Information
52

Item 6.
Exhibits
53

Signatures

2

Table of Contents

 
Commonly Used Defined Terms
Green Plains Inc. and Subsidiaries:

Green Plains Inc.; Green Plains; the companyGreen Plains Inc. and its subsidiaries
FQTFluid Quip Technologies, LLC
Green Plains Commodity ManagementGreen Plains Commodity Management LLC
Green Plains Finance CompanyGreen Plains Finance Company LLC
Green Plains GrainGreen Plains Grain Company LLC
Green Plains Mount Vernon; Mount VernonGreen Plains Mount Vernon LLC
Green Plains Obion; ObionGreen Plains Obion LLC
Green Plains Shenandoah; ShenandoahGreen Plains Shenandoah LLC
Green Plains TradeGreen Plains Trade Group LLC
Green Plains Wood River; Wood RiverGreen Plains Wood River LLC

Accounting Defined Terms:

ASCAccounting Standards Codification
EBITDAEarnings before interest expense, income taxes, depreciation and amortization
EPSEarnings per share
Exchange ActSecurities Exchange Act of 1934, as amended
GAAPU.S. Generally Accepted Accounting Principles
SECSecurities and Exchange Commission
SOFRSecured Overnight Financing Rate

Industry and Other Defined Terms:

BlackRockFunds and accounts managed by BlackRock
the Board; our BoardBoard of Directors of Green Plains Inc. 
CCSCarbon capture and storage

CICarbon Intensity
E10Gasoline blended with up to 10% ethanol by volume
E15Gasoline blended with up to 15% ethanol by volume
EIAU.S. Energy Information Administration
EPAU.S. Environmental Protection Agency
EVElectric Vehicle
FFVFlexible-fuel vehicle
GHGGreenhouse gas
GREETGreenhouse gases, Regulated Emissions, and Energy use in Technologies
IRAInflation Reduction Act
LCFSLow Carbon Fuel Standard
MmBtuMillion British Thermal Units
MmgMillion gallons
MSC™Maximized Stillage Co-products™ technology developed by Fluid Quip Technologies, LLC
MTBEMethyl tertiary-butyl ether
OBBBOne Big Beautiful Bill Act
RECRenewable energy certificate
RFSRenewable Fuels Standard 
RINRenewable identification number
RVORenewable volume obligation
SAFSustainable Aviation Fuel
SRESmall refinery exemption
U.S.United States
USDAU.S. Department of Agriculture

3

Table of Contents

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements.

GREEN PLAINS INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except share amounts)

June 30,
2026December 31,
2025
(unaudited)
ASSETS
Current assets
Cash and cash equivalents$185,384 $182,319 
Restricted cash57,691 47,813 
Accounts receivable, net of allowances of $772 and $801, respectively 
79,584 74,374 
Inventories128,563 148,095 
Production tax credits133,182 40,328 
Prepaid expenses and other17,051 18,117 
Derivative financial instruments23,997 11,494 
Total current assets625,452 522,540 
Property and equipment, net of accumulated depreciation and amortization of $703,871 and $681,713, respectively
918,053 957,256 
Operating lease right-of-use assets63,798 63,849 
Other assets49,764 41,242 
Total assets$1,657,067 $1,584,887 

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable$94,688 $134,912 
Accrued and other liabilities42,530 39,427 
Unearned revenue29,902 27,401 
Derivative financial instruments26,605 7,901 
Operating lease current liabilities23,508 21,557 
Short-term notes payable and other borrowings27,004 33,584 
Current maturities of long-term debt69,510 3,924 
Total current liabilities313,747 268,706 
Long-term debt387,176 361,992 
Operating lease long-term liabilities41,436 43,648 
Carbon equipment liabilities
12,360 104,217 
Other liabilities32,503 34,353 
Total liabilities787,222 812,916 

Commitments and contingencies (Note 13)

Stockholders' equity
Common stock, $0.001 par value; 150,000,000 shares authorized; 75,765,934 and 75,495,731 shares issued, and 70,098,280 and 69,828,077 shares outstanding, respectively
76 76 
Additional paid-in capital1,268,815 1,267,839 
Retained deficit(339,489)(439,576)
Accumulated other comprehensive income (loss)2,006 (618)
Treasury stock, 5,667,654 shares
(61,474)(61,474)
Total Green Plains stockholders' equity869,934 766,247 
Noncontrolling interests(89)5,724 
Total stockholders' equity869,845 771,971 
Total liabilities and stockholders' equity$1,657,067 $1,584,887 

See accompanying notes to the consolidated financial statements.
4

Table of Contents

GREEN PLAINS INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited and in thousands, except per share amounts)

Three Months Ended
June 30,Six Months Ended 
June 30,
2026202520262025

Revenues$446,224 $552,829 $892,028 $1,154,344 

Costs and expenses
Cost of goods sold (excluding depreciation and amortization expenses reflected below)333,194 511,259 691,052 1,109,735 
Selling, general and administrative expenses21,707 27,605 41,244 70,517 
Loss on sale of assets— 4,044 — 4,044 
Depreciation and amortization expenses23,449 27,560 47,086 49,947 
Impairment of assets held for sale— 10,724 — 10,724 
Total costs and expenses378,350 581,192 779,382 1,244,967 
Operating income (loss)67,874 (28,363)112,646 (90,623)

Other income (expense)
Interest income1,449 634 4,369 1,637 
Interest expense(8,130)(13,899)(19,615)(22,812)
Other, net516 (39)668 (1,554)
Total other expense(6,165)(13,304)(14,578)(22,729)
Income (loss) before income taxes and income (loss) from equity method investees61,709 (41,667)98,068 (113,352)
Income tax benefit (expense)5,485 (2,294)2,569 (2,400)
Income (loss) from equity method investees, net of income taxes12 (28,266)34 (29,116)
Net income (loss)67,206 (72,227)100,671 (144,868)
Net income attributable to noncontrolling interests57 11 584 276 
Net income (loss) attributable to Green Plains$67,149 (72,238)$100,087 (145,144)

Earnings per share
Net income (loss) attributable to Green Plains - basic$0.97 $(1.09)$1.45 $(2.22)
Net income (loss) attributable to Green Plains - diluted$0.83 $(1.09)$1.25 $(2.22)

Weighted average shares outstanding
Basic69,112 66,491 68,977 65,287 
Diluted84,494 66,491 84,381 65,287 

See accompanying notes to the consolidated financial statements.
5

Table of Contents

GREEN PLAINS INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(unaudited and in thousands)

Three Months Ended
June 30,Six Months Ended June 30,
2026202520262025
Net income (loss)$67,206 $(72,227)$100,671 $(144,868)
Other comprehensive income (loss), net of tax
Unrealized gains (losses) on derivatives arising during the period, net of tax (expense) benefit of ($1,609), $2,814, $1,651 and $3,539, respectively
4,716 (8,191)(4,853)(10,498)
Reclassification of realized losses on derivatives, net of tax benefit of ($3,879), ($927), ($2,544) and ($939), respectively
11,397 2,747 7,477 2,784 
Total other comprehensive income (loss), net of tax16,113 (5,444)2,624 (7,714)
Comprehensive income (loss)83,319 (77,671)103,295 (152,582)
Comprehensive income attributable to noncontrolling interests57 11 584 276 
Comprehensive income (loss) attributable to Green Plains$83,262 $(77,682)$102,711 $(152,858)

See accompanying notes to the consolidated financial statements.
6

Table of Contents

GREEN PLAINS INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited and in thousands)

Six Months Ended
June 30,
20262025
Cash flows from operating activities
Net income (loss)$100,671 $(144,868)
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation and amortization47,086 49,947 
Amortization of debt issuance costs and non-cash interest expense1,248 6,166 
Loss on sale of assets— 4,044 
Impairment of assets held for sale— 10,724 
Inventory lower of cost or net realizable value adjustment— 2,255 
Deferred income taxes(2,605)2,600 
Stock-based compensation4,203 11,123 
(Income) loss from equity method investees, net of income taxes(34)29,116 
Other(497)64 
Changes in operating assets and liabilities
Accounts receivable(5,675)16,428 
Inventories19,747 69,287 
Production tax credits(92,854)— 
Derivative financial instruments9,720 (5,547)
Prepaid expenses and other assets(2,791)12,639 
Accounts payable and accrued liabilities(35,785)(61,235)
Current income taxes3,910 685 
Other423 326 
Net cash provided by operating activities46,767 3,754 

Cash flows from investing activities
Purchases of property and equipment, net(17,140)(27,853)
Proceeds from the sale of assets2,000 421 
Investment in equity method investees— (4,909)
Net cash used in investing activities(15,140)(32,341)

Cash flows from financing activities
Payments of principal on long-term debt(3,098)(962)
Proceeds from short-term borrowings145,369 301,841 
Payments on short-term borrowings(151,949)(362,803)
Payments of dividends and distributions(1,617)— 
Purchase of minority interests(4,700)— 
Net proceeds from product financing arrangement— 37,146 
Payments of loan fees(250)(81)
Payments related to tax withholdings for stock-based compensation(2,439)(1,476)
Other financing activities— (1,753)
Net cash used in financing activities(18,684)(28,088)

Net change in cash and cash equivalents, and restricted cash12,943 (56,675)
Cash and cash equivalents, and restricted cash, beginning of period23