Green Plains Inc
NASDAQ:GPRE
Green Plains Inc
Green Plains, Inc. engages in the production of fuel-grade ethanol and corn oil, the provision of grain handling, and storage commodity marketing and distribution services. The company is headquartered in Omaha, Nebraska and currently employs 859 full-time employees. The company went IPO on 2006-03-15. The firm is principally engaged in operating ethanol production facilities and corn processing, with a focus on the production of high protein feed ingredients. The firm operates through four segments: Ethanol Production, Agribusiness and Energy Services, Food and Ingredients, and Partnership. The Ethanol Production segment includes production of ethanol, including alcohol, distillers grains, protein and corn oil at ethanol plants in Illinois, Indiana, Iowa, Minnesota and Tennessee. The Agribusiness and Energy Services segment agribusiness and energy services segment includes grain procurement, and its commodity marketing business, which markets, sells and distributes ethanol, distiller’s grains, Ultra-High Protein and corn oil produced at its ethanol plants. Its limited partnership provides fuel storage and transportation services by owning, operating, developing and acquiring ethanol and fuel storage tanks, terminals, and other assets.
Green Plains, Inc. engages in the production of fuel-grade ethanol and corn oil, the provision of grain handling, and storage commodity marketing and distribution services. The company is headquartered in Omaha, Nebraska and currently employs 859 full-time employees. The company went IPO on 2006-03-15. The firm is principally engaged in operating ethanol production facilities and corn processing, with a focus on the production of high protein feed ingredients. The firm operates through four segments: Ethanol Production, Agribusiness and Energy Services, Food and Ingredients, and Partnership. The Ethanol Production segment includes production of ethanol, including alcohol, distillers grains, protein and corn oil at ethanol plants in Illinois, Indiana, Iowa, Minnesota and Tennessee. The Agribusiness and Energy Services segment agribusiness and energy services segment includes grain procurement, and its commodity marketing business, which markets, sells and distributes ethanol, distiller’s grains, Ultra-High Protein and corn oil produced at its ethanol plants. Its limited partnership provides fuel storage and transportation services by owning, operating, developing and acquiring ethanol and fuel storage tanks, terminals, and other assets.
Profit Turnaround: Green Plains reported Q4 2025 net income of $11.9 million, a significant improvement from a net loss of $54.9 million in Q4 2024.
Strong EBITDA: Q4 2025 adjusted EBITDA was $49.1 million, up by more than $67 million year-over-year, driven by operational excellence and benefit from clean fuel tax credits.
Production Capacity Boost: The company increased its stated annual production capacity (excluding Fairmont) to 730 million gallons, a 10% rise over prior levels.
Carbon Monetization: Green Plains expects at least $188 million in adjusted EBITDA from carbon initiatives and 45Z tax credits in 2026, with potential further upside from CI reduction projects.
Cost Discipline: SG&A expenses fell and are expected to be over $25 million lower in 2026 versus 2024, with a run rate in the low $90 million range.
Balance Sheet Strength: Most near-term debt was refinanced into a new 2030 note; only $60 million of 2027 notes remain outstanding, supporting liquidity and execution.
Ethanol Market Outlook: Management expects strong demand and margins due to a record corn crop, resilient ethanol prices, and growing export demand.
