Green Plains Inc.GPRE
Green Plains Inc. Revenue Disclosure
REVENUE
Revenue Recognition
Revenue is recognized when obligations under the terms of a contract with a customer are satisfied. Generally this occurs with the transfer of control of products or services. Revenue is measured as the amount of consideration expected to be received in exchange for transferring goods or providing services. Sales, value add, and other taxes the company collects concurrent with revenue-producing activities are excluded from revenue.
Revenue by Source
The following tables disaggregate revenue by major source (in thousands):
| Twelve Months Ended December 31, 2025 | |||||||||||||||||||||||
| Ethanol Production | Agribusiness & Energy Services | Eliminations | Total | ||||||||||||||||||||
| Revenues | |||||||||||||||||||||||
| Revenues from contracts with customers under ASC 606 | |||||||||||||||||||||||
| Ethanol | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
| Distillers grains | 83,613 | 11,785 | — | 95,398 | |||||||||||||||||||
| Renewable corn oil | — | — | — | — | |||||||||||||||||||
| Other | 89,895 | 3,686 | — | 93,581 | |||||||||||||||||||
| Intersegment revenues | 860 | 259 | (1,119) | — | |||||||||||||||||||
| Total revenues from contracts with customers | 174,368 | 15,730 | (1,119) | 188,979 | |||||||||||||||||||
Revenues from contracts accounted for as derivatives under ASC 815 (1) | |||||||||||||||||||||||
| Ethanol | 1,372,928 | 116,300 | — | 1,489,228 | |||||||||||||||||||
| Distillers grains | 201,674 | 16,830 | — | 218,504 | |||||||||||||||||||
| Renewable corn oil | 152,888 | — | — | 152,888 | |||||||||||||||||||
| Other | — | 42,081 | — | 42,081 | |||||||||||||||||||
| Intersegment revenues | — | 22,402 | (22,402) | — | |||||||||||||||||||
| Total revenues from contracts accounted for as derivatives | 1,727,490 | 197,613 | (22,402) | 1,902,701 | |||||||||||||||||||
| Total Revenues | $ | 1,901,858 | $ | 213,343 | $ | (23,521) | $ | 2,091,680 | |||||||||||||||
| Twelve Months Ended December 31, 2024 | |||||||||||||||||||||||
| Ethanol Production | Agribusiness & Energy Services | Eliminations | Total | ||||||||||||||||||||
| Revenues | |||||||||||||||||||||||
| Revenues from contracts with customers under ASC 606 | |||||||||||||||||||||||
| Ethanol | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
| Distillers grains | 88,660 | 10,015 | — | 98,675 | |||||||||||||||||||
| Renewable corn oil | — | — | — | — | |||||||||||||||||||
| Other | 55,613 | 8,685 | — | 64,298 | |||||||||||||||||||
| Intersegment revenues | 3,707 | 287 | (3,994) | — | |||||||||||||||||||
| Total revenues from contracts with customers | 147,980 | 18,987 | (3,994) | 162,973 | |||||||||||||||||||
Revenues from contracts accounted for as derivatives under ASC 815 (1) | |||||||||||||||||||||||
| Ethanol | 1,522,215 | 329,768 | — | 1,851,983 | |||||||||||||||||||
| Distillers grains | 252,694 | 28,630 | — | 281,324 | |||||||||||||||||||
| Renewable corn oil | 136,671 | 3,346 | — | 140,017 | |||||||||||||||||||
| Other | 7,529 | 14,970 | — | 22,499 | |||||||||||||||||||
| Intersegment revenues | — | 25,406 | (25,406) | — | |||||||||||||||||||
| Total revenues from contracts accounted for as derivatives | 1,919,109 | 402,120 | (25,406) | 2,295,823 | |||||||||||||||||||
| Total Revenues | $ | 2,067,089 | $ | 421,107 | $ | (29,400) | $ | 2,458,796 | |||||||||||||||
| Twelve Months Ended December 31, 2023 | |||||||||||||||||||||||
| Ethanol Production | Agribusiness & Energy Services | Eliminations | Total | ||||||||||||||||||||
| Revenues | |||||||||||||||||||||||
| Revenues from contracts with customers under ASC 606 | |||||||||||||||||||||||
| Ethanol | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
| Distillers grains | 85,474 | — | — | 85,474 | |||||||||||||||||||
| Renewable corn oil | — | — | — | — | |||||||||||||||||||
| Other | 35,222 | 15,593 | — | 50,815 | |||||||||||||||||||
| Intersegment revenues | 4,555 | 239 | (4,794) | — | |||||||||||||||||||
| Total revenues from contracts with customers | 125,251 | 15,832 | (4,794) | 136,289 | |||||||||||||||||||
Revenues from contracts accounted for as derivatives under ASC 815 (1) | |||||||||||||||||||||||
| Ethanol | 2,117,296 | 388,764 | — | 2,506,060 | |||||||||||||||||||
| Distillers grains | 377,357 | 34,818 | — | 412,175 | |||||||||||||||||||
| Renewable corn oil | 179,424 | 8,048 | — | 187,472 | |||||||||||||||||||
| Other | 25,213 | 28,534 | — | 53,747 | |||||||||||||||||||
| Intersegment revenues | — | 24,907 | (24,907) | — | |||||||||||||||||||
| Total revenues from contracts accounted for as derivatives | 2,699,290 | 485,071 | (24,907) | 3,159,454 | |||||||||||||||||||
| Total Revenues | $ | 2,824,541 | $ | 500,903 | $ | (29,701) | $ | 3,295,743 | |||||||||||||||
(1)Revenues from contracts accounted for as derivatives represent physically settled derivative sales that are outside the scope of ASC 606.
Major Customer
Revenues from Customer A represented 44% of total revenues for the year ended December 31, 2025, which are recorded within the ethanol production segment. Revenues from Customer B represented 13% of total revenues for the year ended December 31, 2024, which are recorded within the ethanol production segment. Revenues from Customer B and Customer C represented 15% and 10% of total revenues for the year ended December 31, 2023, respectively, which are recorded within the ethanol production segment.
Payment Terms
The company has standard payment terms, which vary depending upon the nature of the services provided, with the majority falling within 10 to 30 days after transfer of control or completion of services. In instances where the timing of revenue recognition differs from the timing of invoicing, the company has determined that contracts generally do not include a significant financing component.
Contract Liabilities
The company records unearned revenue when consideration is received, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of service agreements. Unearned revenue from service agreements, which represents a contract liability, is recorded for fees that have been charged to the customer prior to the completion of performance obligations. Unearned revenue is generally recognized in the subsequent period and is not material to the company. The company expects to recognize all of the unearned revenue associated with service agreements as of December 31, 2025 when the services are provided.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 10, 2026 | Showing above |
| 2024 | Feb 7, 2025 | |
| 2023 | Feb 9, 2024 | |
| 2022 | Feb 10, 2023 | |
| 2021 | Feb 18, 2022 | |
| 2020 | Feb 16, 2021 | |
| 2019 | Feb 20, 2020 | |
| 2018 | Feb 20, 2019 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.