Green Plains Inc.GPRE

Green Plains Inc. Earnings Per Share Disclosure

10-KFiled Feb 10, 20261 min read
EARNINGS PER SHARE
Basic earnings per share, or EPS, is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period.
The company computes diluted EPS by dividing net income on an if-converted basis, adjusted to add back net interest expense related to the convertible debt instruments, by the weighted average number of common shares outstanding during the period, adjusted to include the shares that would be issued if the convertible debt instruments were converted to common shares and the effect of any outstanding dilutive securities.
The basic and diluted EPS are calculated as follows (in thousands):
Year Ended December 31,
202520242023
Net loss attributable to Green Plains$(121,278)$(82,497)$(93,384)
Weighted average shares outstanding - basic and diluted67,496 63,796 58,814 
EPS - basic and diluted$(1.80)$(1.29)$(1.59)
Anti-dilutive weighted-average convertible debt, warrants and stock-based compensation (1)
9,259 7,696 8,419 
(1)The effect related to the company's convertible debt, warrants and certain stock-based compensation award has been excluded from diluted EPS for the periods presented as the inclusion of these shares would have been antidilutive.

Historical Timeline

Fiscal YearFiled
2025Feb 10, 2026Showing above
2024Feb 7, 2025
2023Feb 9, 2024
2022Feb 10, 2023
2021Feb 18, 2022
2020Feb 16, 2021
2019Feb 20, 2020
2018Feb 20, 2019
2017Feb 14, 2018
2016Feb 22, 2017
2015Feb 18, 2016

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

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