Green Plains Inc.
- Open
- 14.84
- Day high
- 15.13
- Day low
- 14.58
- Prev close
- 14.97
- Volume
- 238K
- Mkt cap
- $1.1B
- P/E (TTM)
- 8.4
- EPS (TTM)
- $1.79
- P/B
- 1.2
- P/S
- 0.6
- Yield
- —
- Per share
- —
Green Plains Inc. (GPRE) is a Basic Materials company listed on NASDAQ. The stock is up 59% over the past year. Drillr has 1 published research article covering GPRE.
Green Plains Inc. (GPRE) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
GPRE earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 6, 2026 | $0.54 | $0.83 | +53.4% | $446M | -17.7% |
| May 7, 2026 | $-0.01 | $0.42 | +4300.0% | $446M | -16.3% |
| Feb 5, 2026 | $0.09 | $0.17 | +88.9% | $429M | -3.6% |
| Nov 5, 2025 | $-0.03 | $0.35 | +1285.6% | $508M | -12.9% |
| May 8, 2025 | $-0.51 | $-0.88 | -72.5% | $602M | -5.8% |
| Feb 7, 2025 | $-0.22 | $-0.86 | -290.9% | $584M | -7.3% |
| Oct 31, 2024 | $0.11 | $0.35 | +218.2% | $659M | -0.5% |
| May 3, 2024 | $-0.33 | $-0.81 | -145.5% | $597M | -8.7% |
| Feb 7, 2024 | $0.15 | $0.12 | -20.0% | $712M | -9.2% |
| Oct 31, 2023 | $-0.11 | $0.35 | +418.2% | $893M | +9.0% |
| Aug 4, 2023 | $0.05 | $-0.89 | -1880.0% | $858M | +5.7% |
| May 4, 2023 | $-0.37 | $-1.20 | -224.3% | $833M | +1.4% |
GPRE insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 20, 2026 | Collins Trent Leeofficer: SVP Operations | Tax | 2,261 | $16.03 |
| Aug 20, 2026 | Osowski Chrisdirector, officer: President and CEO | Tax | 11,989 | $16.03 |
| Jun 9, 2026 | Wagner Kimberlydirector | Grant | 9,019 | $14.97 |
| Jun 9, 2026 | Peterson Briandirector | Grant | 9,019 | $14.97 |
| Jun 9, 2026 | Salinas Martindirector | Grant | 9,019 | $14.97 |
| Jun 9, 2026 | GRASSI CARL J.director | Grant | 9,019 | $14.97 |
| Jun 9, 2026 | Anderson James Ddirector | Grant | 9,019 | $14.97 |
| Jun 9, 2026 | Aslam Farhadirector | Grant | 9,019 | $14.97 |
| Jun 9, 2026 | Furcich Steven Jdirector | Grant | 9,019 | $14.97 |
| Jun 8, 2026 | Sweeney Patrick Francisdirector | Grant | 9,019 | $14.97 |
| May 18, 2026 | Havasi Imreofficer: SVP Trading and Commercial Ops | Tax | 461 | $17.14 |
| Apr 30, 2026 | Collins Trent Leeofficer: SVP Operations | Tax | 657 | $17.25 |
| Mar 16, 2026 | Osowski Chrisdirector, officer: President and CEO | Tax | 1,999 | $15.81 |
| Mar 16, 2026 | Havasi Imreofficer: SVP Trading and Commercial Ops | Tax | 1,076 | $15.81 |
| Mar 16, 2026 | Herbert James F IIofficer: Chief Human Resources Officer | Tax | 1,845 | $15.81 |
Source: GPRE SEC Form 4 filings, latest Aug 20, 2026. For informational purposes only — not investment advice.
See the full GPRE insider & 13F page →Green Plains Inc. company profile
Overview
Green Plains Inc. (NASDAQ:GPRE) is a Nebraska-based biofuel and agricultural processing company founded in 2004. Originally established as Green Plains Renewable Energy, the company went public in 2006 and rebranded to its current name in 2014. Green Plains operates as one of the largest ethanol producers in the United States, with a network of production facilities across the Midwest. The company has been undergoing a strategic transformation dubbed "Green Plains 2.0," evolving from a traditional ethanol producer into a diversified bio-refinery platform focused on producing low-carbon fuels and high-value agricultural ingredients.
Business
Green Plains operates in the biofuels and specialty chemicals industry, specifically focusing on ethanol production and related agricultural processing. Ethanol is a renewable fuel additive made from corn that is blended with gasoline to reduce emissions and extend fuel supply. The company processes corn through fermentation to produce ethanol, which is then sold to fuel blenders and distributors who mix it with gasoline for retail sale. The company operates through three main business segments: 1. **Ethanol Production** (primary revenue driver, approximately 85-90% of revenues): This segment produces and sells ethanol, distillers grains (a protein-rich animal feed byproduct), ultra-high protein concentrates, and renewable corn oil. The company operates nine active ethanol plants with a combined annual production capacity of approximately 1.2 billion gallons. The ultra-high protein products, marketed as "50 Pro" and "60 Pro," are premium animal feed ingredients with protein concentrations of 50% and 60% respectively, compared to traditional distillers grains at 27% protein. 2. **Agribusiness and Energy Services** (approximately 10-15% of revenues): This segment handles grain procurement, storage, and commodity marketing. It purchases corn from farmers, stores it in grain elevators, and markets various agricultural commodities including ethanol, distillers grains, and other grain products. 3. **Partnership** (smallest segment): This division provides fuel storage and transportation services through a network of ethanol storage facilities, fuel terminals, and approximately 2,300 leased railcars for product transportation. Green Plains is also developing innovative technologies including Clean Sugar Technology (CST), which produces low-carbon dextrose sugar from corn, and pursuing carbon capture and sequestration projects to reduce the carbon intensity of its operations and generate additional revenue from carbon credits.
Revenue model
Green Plains generates revenue primarily through product sales across its three business segments. The core business model revolves around purchasing corn as a raw material and converting it into higher-value products through biorefining processes. **Primary Revenue Streams:** 1. **Ethanol sales** constitute the largest revenue source, with the company selling approximately 1 billion gallons annually to fuel blenders, distributors, and export markets 2. **Co-product sales** including distillers grains (animal feed), ultra-high protein concentrates, and renewable corn oil 3. **Commodity trading and storage services** through the agribusiness segment 4. **Transportation and storage fees** from the partnership segment **Key Customers:** Fuel distributors, ethanol blenders, animal feed manufacturers, livestock producers, aquaculture operations, pet food companies, and international export markets (particularly Canada). **Margin Influencing Factors:** Several factors significantly impact Green Plains' profitability. **Positive margin drivers** include higher ethanol prices relative to corn costs (known as the "crush spread"), strong demand for premium protein products which command $200-230 per ton premiums over standard distillers grains, growing renewable corn oil demand from the renewable diesel industry, and emerging carbon credit revenues expected to generate over $130 million annually once carbon capture projects are operational. **Negative margin pressures** come from volatile corn prices (the primary input cost), ethanol market oversupply, regulatory uncertainty around biofuel mandates and tax credits, competition from other protein sources, and high capital expenditure requirements for new technology development. The company's margins are also sensitive to export demand fluctuations, natural gas prices for plant operations, and transportation costs for product delivery.
Competitive moat
Green Plains operates in a commodity-driven industry with limited sustainable competitive advantages. The company's **narrow moat** primarily stems from its scale as one of the largest U.S. ethanol producers and its strategic geographic positioning in the Corn Belt, which provides cost advantages in raw material procurement and logistics. **Potential Moat Elements:** The company's developing technology portfolio, particularly its ultra-high protein production capabilities and Clean Sugar Technology, could provide differentiation if successfully commercialized. The carbon capture infrastructure being constructed may offer temporary advantages through access to lucrative carbon credit markets. Additionally, Green Plains' integrated supply chain from grain procurement through final product distribution creates some operational efficiencies. **Competitive Threats and Limitations:** However, the ethanol industry faces significant structural challenges. **Electric vehicle adoption** threatens long-term gasoline demand, potentially reducing ethanol consumption. **Policy risk** is substantial, as the industry depends heavily on government mandates (Renewable Fuel Standard) and tax incentives that could be modified or eliminated. The industry suffers from **chronic overcapacity**, leading to periodic margin compression. **Low switching costs** mean customers can easily change suppliers based on price, limiting pricing power. New entrants can build comparable ethanol facilities, and existing competitors like Archer Daniels Midland and POET possess similar or greater scale advantages. The company's innovation initiatives, while promising, remain largely unproven commercially and face competition from established players in adjacent markets. Overall, Green Plains lacks a strong, sustainable competitive moat and operates in a structurally challenging industry with significant regulatory and technological disruption risks.
Risks & safety
Green Plains presents **moderate to high financial risk** with limited margin of safety at current levels. **Liquidity and Solvency:** - Cash position: $98.6 million as of Q1 2025, down from $173 million in Q4 2024 - Negative operating cash flow: -$55 million in Q1 2025, -$30 million for full year 2024 - Free cash flow: Consistently negative, -$72 million in Q1 2025, -$125 million for 2024 - Debt-to-equity ratio: 0.8x, indicating moderate leverage - Current ratio: 1.38x, adequate short-term liquidity coverage **Valuation Metrics:** - Trading at 0.39x book value, suggesting potential asset value - Negative EBITDA in recent quarters creates valuation challenges - EV/EBITDA multiples are distorted by negative or minimal EBITDA - Estimated replacement cost of assets at $2-3 per gallon of capacity vs. current enterprise value **Other Considerations:** The company is burning cash while investing in unproven technologies, faces commodity price volatility, and operates in a structurally challenged industry. However, potential upside exists from carbon credit monetization and successful commercialization of protein and clean sugar technologies.
Recent development
Green Plains has undergone significant strategic transformation over the past few years, transitioning from a traditional ethanol producer to a diversified bio-refinery platform. The company's "Green Plains 2.0" strategy focuses on developing high-value co-products and low-carbon solutions. **Key Strategic Initiatives:** The company has invested heavily in **ultra-high protein production technology**, successfully achieving 50% and 60% protein concentrations compared to traditional 27% protein distillers grains. This technology is being rolled out across the platform, with production growing from 20,000 tons in 2024 to an expected 80,000 tons in 2025. **Clean Sugar Technology** development has progressed with the construction of a commercial facility at the Shenandoah plant, though the project has faced operational challenges and was recently paused for optimization. **Carbon Strategy and Environmental Initiatives:** A major focus has been developing **carbon capture and sequestration capabilities**. The company is constructing carbon compression infrastructure expected to begin operations in late 2025, with projected annual revenue of over $130 million from carbon credits. This includes partnerships with Summit Carbon Solutions and Trailblazer pipeline projects for CO2 transportation and storage. **Operational Restructuring:** In response to challenging market conditions, Green Plains executed a significant **cost reduction program** in late 2024 and early 2025, targeting $50 million in annual savings. This included workforce reductions, shutting down the 120-million-gallon Fairmont facility, and streamlining corporate functions. The company reduced its SG&A expenses from $118 million in 2024 to a targeted $93 million by year-end 2025. Additionally, Green Plains entered a **strategic marketing partnership with EcoEnergy** and is conducting a comprehensive strategic review that could result in asset sales or corporate transactions.
GPRE company profile · for informational purposes only — not investment advice.
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