Green Plains Inc.

Listed Company

GPRECIK 0001309402NasdaqAcceleratedIndustrial Organic ChemicalsIowaFY ends Dec 31

Period

FY 2025

Revenue

$2.09B

Net Income

$-121.28M

Total Assets

$1.58B

Equity

$766.25M

Shares Out

69.84M

Op. Cash Flow

$110.86M

Business

Green Plains Inc. produces low-carbon fuels and value-added agricultural ingredients through fermentation and proprietary agribusiness technologies, with an emphasis on lowering carbon intensity via carbon capture. It manufactures ethanol and co-products including distillers grains, Ultra-High Protein feed ingredients, renewable corn oil and low‑carbon dextrose syrups, and provides technology platforms for the broader biofuels industry. The company operates two primary segments: Ethanol Production (biorefineries producing fuels and specialty ingredients) and Agribusiness and Energy Services (grain procurement, storage, commodity marketing and energy procurement). It markets products domestically and internationally, distributing via truck, rail, terminals and export channels to fuel, feed and industrial customers.

Summary from filing dated 2025-02-07

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	2,092	2,459	3,296	3,663	2,827
Cost of goods sold (excluding depreciation and amortization expenses reflected below)	1,955	2,328	3,131	3,550	2,625
Selling, general and administrative expenses	123	118	133	119	91
Gain on sale of assets, net	−32	−31	−5	0	−30
Depreciation and amortization expenses	98	91	98	93	92
Impairment of assets held for sale	15	0	0	—	—
Total costs and expenses	2,159	2,506	3,357	3,762	2,802
Operating loss	−67	−47	−62	−99	26
Interest income	4	8	12	5	575,000
Interest expense	−77	−33	−38	−33	—
Other, net	−4	2	5	28	−2
Total other income (expense)	−77	−24	−21	247,000	−69
Loss before income taxes and income (loss) from equity method investees	−144	−71	−82	−99	−43
Income tax benefit (expense)	52	−6	6	−5	−2
Income (loss) from equity method investees, net of income taxes	−29	−4	433,000	71,000	700,000
Net loss	−121	−81	−76	−103	−44
Net income attributable to noncontrolling interests	278,000	1	17	24	22
Net loss attributable to Green Plains	−121	−82	−93	−127	−66
Net loss attributable to Green Plains - basic (in dollars per share)	−1.8	−1.29	−1.59	−2.29	−1.41
Net loss attributable to Green Plains - diluted (in dollars per share)	−1.8	−1.29	−1.59	−2.29	−1.41
Weighted-average shares outstanding - basic (in shares)	67	64	59	56	47
Weighted-average shares outstanding - diluted (in shares)	67	64	59	56	47

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	182	173	350	445	426
Restricted cash	48	36	29	56	135
Accounts receivable, net of allowances of $801 and $80, respectively	74	95	94	109	120
Inventories	148	227	216	279	268
Prepaid expenses and other	18	27	24	20	16
Derivative financial instruments	11	10	20	20	27
Total current assets	482	569	733	929	1,118
Property and equipment, net	957	1,042	1,022	1,029	894
Operating lease right-of-use assets	64	72	74	73	64
Deferred income taxes, net	34	0	—	—	—
Other assets	41	99	111	92	84
Total assets	1,578	1,782	1,939	2,123	2,160
Accounts payable	135	155	187	234	146
Accrued and other liabilities	67	54	57	44	57
Derivative financial instruments	8	10	11	48	43
Operating lease current liabilities	22	25	23	21	17
Short-term notes payable and other borrowings	34	141	106	138	173
Current maturities of long-term debt	4	2	2	2	35
Total current liabilities	269	386	385	487	472
Long-term debt	362	432	492	495	514
Operating lease long-term liabilities	44	49	54	56	50
Other liabilities	28	22	19	24	22
Carbon equipment liabilities	104	18	—	—	—
Total liabilities	806	908	949	1,062	1,058
Commitments and contingencies (Note 16)	—	—	—	—	—
Common stock, $0.001 par value; 150,000,000 shares authorized; 75,495,731 and 67,512,282 shares issued, and 69,828,077 and 64,707,223 shares outstanding, respectively	76,000	68,000	62,000	62,000	62,000
Additional paid-in capital	1,268	1,214	1,114	1,110	1,070
Retained deficit	−440	−318	−236	−142	−15
Accumulated other comprehensive income (loss)	−600,000	1	−3	−27	−12
Treasury stock, 5,667,654 and 2,805,059 shares, respectively	−62	−31	−31	−31	−92
Total Green Plains stockholders' equity	766	865	844	910	951
Noncontrolling interests	6	9	146	151	152
Total stockholders' equity	772	875	990	1,061	1,102
Total liabilities and stockholders' equity	1,578	1,782	1,939	2,123	2,160
Treasury stock, common (in shares)	6	3	3	3	8

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	98	91	98	93	92
Amortization of debt issuance costs and non-cash interest expense	10	2	3	4	8
Gain on the sale of assets, net	−32	−31	−5	0	−30
Inventory lower of cost or net realizable value adjustment	1	2	3	12	0
Loss on extinguishment of debt	37	2	0	419,000	33
Deferred income taxes	−53	4	−7	5	1
Stock-based compensation	17	8	13	9	6
Distribution from equity method investees	0	575,000	0	637,000	2
Other	10	165,000	2	−786,000	2
Accounts receivable	19	−455,000	14	9	−64
Inventories	67	−13	53	−23	−21
Derivative financial instruments	9	14	−3	−7	7
Prepaid expenses and other assets	14	−5	−4	−3	−578,000
Accounts payable and accrued liabilities	−16	−28	−35	75	17
Current income taxes	5	−285,000	497,000	841,000	−699,000
Other	2	1	−538,000	−351,000	−3
Net cash provided by (used in) operating activities	111	−30	56	70	4
Purchases of property and equipment, net	−37	−95	−108	−212	−187
Proceeds from the sale of assets, net	180	49	25	0	87
Proceeds for the sale of equity method investment	24	0	0	—	—
Investment in equity method investees, net	−5	−16	−24	−17	0
Net cash provided by (used in) investing activities	162	−62	−107	−105	−236
Proceeds from the issuance of long-term debt	30	0	0	45	368
Payments of principal on long-term debt	−133	−62	−5	−2	−189
Proceeds from short-term borrowings	398	758	1,191	1,863	3,474
Payments on short-term borrowings	−506	−724	−1,224	−1,898	−3,446
Net proceeds from product financing arrangement	3	0	0	—	—
Payments for repurchase of common stock	−30	0	0	0	0
Payments on extinguishment of non-controlling interest	0	−29	0	0	—
Payments of dividends and distributions	−721,000	−5	−23	−23	−9
Payments of transaction costs	0	−6	0	0	—
Payments of loan fees	−9	−2	−16,000	−3	−9
Payments related to tax withholdings for stock-based compensation	−2	−5	−9	−4	−5
Other financing activities	−3	−3	−2	−3	−720,000
Net cash used in financing activities	−252	−77	−71	−25	518
Net change in cash and cash equivalents, and restricted cash	21	−169	−122	−61	286
Issuance of common stock as a result of the Merger	0	5,000	0	0	—
Extinguishment of non-controlling interest within additional paid-in capital	0	134	0	0	—
Assets disposed of in sale	150	21	22	0	55
Less: liabilities relinquished	−12	−3	−4	0	−4
Net assets disposed	138	18	19	0	51
Cash paid for income taxes, net	2	486,000	1	583,000	1
Cash paid for interest	35	31	35	31	29
Capital expenditures in long-term debt	35	0	0	—	—
Capital expenditures in accounts payable	3	6	7	17	12
Capital expenditures in other liabilities	104	18	0	0	21

Filings

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