Form 8-K

8-K — Green Plains Inc.

Accession: 0001628280-26-053808

Filed: 2026-08-06

Period: 2026-08-06

CIK: 0001309402

SIC: 2860 (INDUSTRIAL ORGANIC CHEMICALS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — gpre-20260806.htm (Primary)

EX-99.1 (gpreq22026earningsrelease.htm)

GRAPHIC (imagea.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: gpre-20260806.htm · Sequence: 1

gpre-20260806

FALSE000130940200013094022026-08-062026-08-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

FORM 8-K

_________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 6, 2026

_______________________________

GREEN PLAINS INC.

(Exact name of registrant as specified in its charter)

_______________________________

Iowa 001-32924 84-1652107

(State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.)

1811 Aksarben Drive

Omaha, Nebraska 68106

(Address of Principal Executive Offices) (Zip Code)

(402) 884-8700

(Registrant's telephone number, including area code)

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, par value $0.001 per share GPRE The Nasdaq Stock Market LLC

_______________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

Green Plains Inc. issued a press release announcing its financial results for the three and six months ended June 30, 2026. A copy of this press release is attached as Exhibit 99.1.

The information in this current report on Form 8-K, including Exhibit 99.1, is “furnished,” not “filed,” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not subject to liability of that section nor deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, before or after this date and regardless of any general incorporation language in the filing, unless explicitly incorporated by reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. The following exhibits are filed as part of this report.

Exhibit No. Description of Exhibit

99.1

Press Release, dated August 6, 2026

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Green Plains Inc.

Date: August 6, 2026 By:

/s/ Ann Reis

Ann Reis

Chief Financial Officer

(Principal Financial Officer)

EX-99.1

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Document

Exhibit 99.1

FOR IMMEDIATE RELEASE

Green Plains Reports Second Quarter 2026 Financial Results

Results for the Second Quarter of 2026:

•Net income attributable to Green Plains of $67.1 million, or EPS of $0.83 per diluted share

•Adjusted EBITDA of $93.3 million, inclusive of $34.6 million from the base business and $58.7 million in 45Z production tax credit value net of discounts and other costs

•Cash flow from operating activities of $86.3 million for the second quarter of 2026

•The Superior, Iowa facility joined the Central City, Nebraska facility in achieving the Highly Protected Status from GPRE’s property insurance carrier, FM

•Lowered selling, general and administrative expenses by $5.9 million or 21% to $21.7 million for the second quarter of 2026 compared to the second quarter of 2025

•88% utilization from the eight operating ethanol plants in the quarter

OMAHA, Neb., August 6, 2026 (BUSINESS WIRE) - Green Plains Inc. (NASDAQ:GPRE) (“Green Plains” or the “company”) today announced financial results for the second quarter of 2026. Net income attributable to the company was $67.1 million, or $0.83 per diluted share compared to net loss attributable to the company of $72.2 million or $(1.09) per diluted share, for the same period in 2025. Revenues were $446.2 million for the second quarter of 2026 compared with $552.8 million for the same period last year. Core operating profitability strengthened with adjusted EBITDA of $93.3 million compared to $16.4 million for the same period in the prior year.

“The second quarter demonstrated the earnings capability of the Green Plains platform,” said Chris Osowski, President and Chief Executive Officer. “Even with lower utilization due to maintenance, we generated more than $67 million of net income. The combination of operational excellence, achieving multiple safety milestones, improved ethanol economics, strong commercial execution and our low-carbon platform is translating into meaningful financial results. ”

“Our financial profile continues to improve as we execute on our operating and capital allocation priorities,” said Ann Reis, Chief Financial Officer. “Stronger earnings from our plants and continued discipline on SG&A are generating meaningful cash flow, which we intend to direct toward reducing debt and building a more resilient balance sheet that is positioned for growth.”

Results of Operations

Green Plains’ ethanol production segment sold 160.7 million gallons of ethanol during the second quarter of 2026, compared with 193.6 million gallons for the same period in 2025. The consolidated ethanol crush margin was $95.1 million for the second quarter of 2026, compared with $26.3 million for the same period in 2025. The consolidated ethanol crush margin is the ethanol production segment’s operating income before depreciation and amortization, including intercompany marketing and agribusiness fees and excluding net nonethanol operating activities.

Consolidated revenues decreased $106.6 million for the three months ended June 30, 2026, compared with the same period in 2025, primarily due to lower revenues within our ethanol production segment as a result of lower volumes sold primarily driven by the disposition of our Obion, Tennessee plant.

Net income attributable to Green Plains increased $139.4 million and adjusted EBITDA increased $76.9 million for the three months ended June 30, 2026 compared with the same period in 2025 primarily due to recognition of $58.7 million of 45Z production tax credits net of discounts and other costs, higher margins in our ethanol production and agribusiness and energy services segments and lower selling, general and administrative expenses as a result of restructuring costs of $2.5 million incurred during the three months ended June 30, 2025. Interest expense decreased $5.8 million for the three months ended June 30, 2026 compared with the same period in 2025 primarily due to prior year loan fees related to the issuance and modification of warrants in conjunction with access to a short-term line of credit and an amendment on our Junior Notes, offset by higher debt balances associated with carbon sequestration equipment. Income tax benefit was $5.5 million for the three months ended June 30, 2026, compared with income tax expense of $2.3 million for the same period in 2025 primarily due to the changes in the valuation allowance on deferred tax assets, offset by an increase in pre-tax book income from the generation of non-taxable 45Z production tax credits.

During the first quarter of 2026, the company elected to early adopt ASU 2025-10, Accounting for Government Grants Received by Business Entities. Concurrently, the company elected to change its accounting policy related to the recognition of Section 45Z clean fuel production tax credits. The change in accounting policy results in the recognition of Section 45Z clean fuel production tax credits by analogy under the income model of ASU 2025-10, which results in a reduction of cost of goods sold in the statements of operations and recognition as production tax credits on the consolidated balance sheets. The company previously

recorded the credits under ASC 740, Accounting for Income Taxes, which resulted in recognition within income tax benefit in the statements of operations and deferred income taxes, net in the consolidated balance sheets. The company determined that the income model under ASU 2025-10 is preferable because it better reflects the financial benefit of Section 45Z clean fuel production tax credits netted against the costs to produce the low-carbon fuels that the tax legislation was meant to incentivize. The company determined that retrospective adjustment to prior period financials is required. No Section 45Z clean fuel production tax credits were recognized during the first or second quarters of 2025, so no adjustments were made in the statements of operations; however, the company has reclassified balances previously reported as deferred income taxes, net, and other long-term liabilities to production tax credits on the consolidated balance sheets as of December 31, 2025.

Segment Information

The company reports the financial and operating performance for the following two operating segments: (1) ethanol production, which includes the production, storage, and transportation of ethanol, distillers grains, Ultra-High Protein, and renewable corn oil, in addition to CCS operations at our three Nebraska plants and (2) agribusiness and energy services, which includes grain handling and storage, commodity marketing and merchant trading for company-produced and third-party ethanol, distillers grains, renewable corn oil, natural gas and other commodities.

GREEN PLAINS INC.

SEGMENT OPERATIONS

(unaudited, in thousands)

Three Months Ended

June 30, Six Months Ended

June 30,

2026 2025 % Var. 2026 2025 % Var.

Revenues

Ethanol production $ 410,768 $ 527,153 (22.1)% $ 804,127 $ 1,024,925 (21.5)%

Agribusiness and energy services 39,546 31,531 25.4 98,151 141,360 (30.6)

Intersegment eliminations (4,090) (5,855) (30.1) (10,250) (11,941) (14.2)

$ 446,224 $ 552,829 (19.3)% $ 892,028 $ 1,154,344 (22.7)%

Gross margin

Ethanol production (1) (2)

$ 104,229 $ 33,490 * $ 175,957 $ 27,798 *

Agribusiness and energy services 8,801 8,080 8.9 25,019 16,811 48.8

$ 113,030 $ 41,570 171.9% $ 200,976 $ 44,609 *

Depreciation and amortization

Ethanol production $ 22,673 $ 22,918 (1.1)% $ 45,891 $ 43,953 4.4%

Agribusiness and energy services (3)

31 3,860 (99.2) 62 4,458 (98.6)

Corporate activities 745 782 (4.7) 1,133 1,536 (26.2)

$ 23,449 $ 27,560 (14.9)% $ 47,086 $ 49,947 (5.7)%

Operating income (loss)

Ethanol production (2) (4) (5)

$ 70,977 $ (12,218) * $ 110,399 $ (51,768) *

Agribusiness and energy services (3)

6,699 849 * 20,531 3,282 *

Corporate activities (6) (7)

(9,802) (16,994) (42.3) (18,284) (42,137) (56.6)

$ 67,874 $ (28,363) * $ 112,646 $ (90,623) *

Adjusted EBITDA

Ethanol production (2) (4) (5)

$ 94,454 $ 8,992 * $ 157,510 $ (10,424) *

Agribusiness and energy services 6,924 5,028 37.7 20,935 8,184 155.8

Corporate activities (8)

(8,078) (42,903) (81.2) (13,642) (68,149) (80.0)

EBITDA 93,300 (28,883) * 164,803 (70,389) *

Restructuring costs — 2,520 * — 19,106 *

Loss on sale of assets — 4,044 * — 4,044 *

Impairment of assets held for sale — 10,724 * — 10,724 *

Loss on sale of equity method investment — 26,987 * — 26,987 *

Proportional share of EBITDA adjustments to equity method investees 45 1,050 (95.7) 90 1,828 (95.1)

$ 93,345 $ 16,442 * $ 164,893 $ (7,700) *

(1) Ethanol production includes $60.4 million and $116.5 million of Section 45Z production tax credits net of discounts and other costs for the three and six months ended June 30, 2026, recorded as a reduction of cost of goods sold.

(2) Ethanol production includes margins from a one-time sale of accumulated RINs of $22.6 million for the three and six months ended June 30, 2025.

(3) Depreciation and amortization for agribusiness and energy services includes impairment of property and equipment of $3.1 million for the three and six months ended June 30, 2025.

(4) Ethanol production includes $58.7 million and $113.9 million of 45Z production tax credits recorded net of discounts, other costs and selling, general and administrative expenses for the three and six months ended June 30, 2026, respectively.

(5) Ethanol production includes impairment of assets held for sale of $10.7 million for the three and six months ended June 30, 2025.

(6) Corporate activities includes $1.7 million and $12.0 million of restructuring costs for the three and six months ended June 30, 2025 as a result of the company's cost reduction initiative, including severance related to the departure of its former CEO.

(7) Corporate activities include a pretax loss on sale of assets of $4.0 million for the three and six months ended June 30, 2025.

(8) Corporate activities include a pretax loss on sale of assets of $4.0 million and a pretax loss on sale of equity method investment of $27.0 million for the three and six months ended June 30, 2025, respectively.

*Percentage variance not considered meaningful

GREEN PLAINS INC.

SELECTED OPERATING DATA

(unaudited, in thousands)

Three Months Ended

June 30, Six Months Ended

June 30,

2026 2025 % Var. 2026 2025 % Var.

Ethanol production

Ethanol (gallons) 160,700 193,571 (17.0)% 334,896 388,899 (13.9)%

Distillers grains (equivalent dried tons) 323 413 (21.8) 685 830 (17.5)

Ultra-High Protein (tons) 49 66 (25.8) 103 134 (23.1)

Renewable corn oil (pounds) 58,332 65,231 (10.6) 116,808 129,494 (9.8)

Corn consumed (bushels) 54,558 65,312 (16.5) 113,360 131,576 (13.8)

Agribusiness and energy services (1)

Ethanol sold (gallons) 180,760 225,703 (19.9) 356,905 481,424 (25.9)

(1) Includes gallons from the ethanol production segment.

GREEN PLAINS INC.

CONSOLIDATED CRUSH MARGIN

(unaudited, in thousands)

Three Months Ended

June 30,

2026 2025

Ethanol production operating income (loss) (1)

$ 70,977 $ (12,218)

Depreciation and amortization 22,673 22,918

Impairment of assets held for sale — 10,724

Adjusted ethanol production operating income 93,650 21,424

Intercompany fees and nonethanol operating activities, net (2)

1,421 4,862

Consolidated ethanol crush margin $ 95,071 $ 26,286

(1) For the three months ended June 30, 2025, ethanol production includes margins from a one-time sale of accumulated RINs of $22.6 million and an inventory lower of cost or net realizable value adjustment of $2.3 million.

(2) Includes certain nonrecurring decommissioning costs and nonethanol operating activities of ($1.9) million and $($1.0) million for the three months ended June 30, 2026 and 2025, respectively.

Liquidity and Capital Resources

As of June 30, 2026, Green Plains had $243.1 million in total cash and cash equivalents, and restricted cash, and $290.0 million available under a committed revolving credit facility, which is subject to restrictions and other lending conditions. On April 17, 2026, the Revolver Facility was amended by the Second Amendment to the Loan and Security Agreement and the termination date was extended from March 25, 2027 to September 25, 2027 and the borrowing limit was reduced from $350 million to $300 million. Total debt outstanding at June 30, 2026 was $483.7 million, including $27.0 million outstanding debt under working capital revolvers and other short-term borrowing arrangements.

Conference Call Information

On August 6, 2026, Green Plains Inc. will host a conference call at 9 a.m. Eastern time (8 a.m. Central time) to discuss second quarter 2026 operating results. Domestic and international participants can access the conference call by dialing 833.461.5787 and 585.542.9983, respectively, and referencing conference ID 249495185. Participants are advised to call at least 10 minutes prior to the start time. Alternatively, the conference call and presentation will be accessible on Green Plains website https://investor.gpreinc.com/events-and-presentations.

Non-GAAP Financial Measures

Management uses EBITDA, adjusted EBITDA, segment EBITDA and consolidated ethanol crush margins to measure the company’s financial performance and to internally manage its businesses. EBITDA is defined as earnings before interest expense, income taxes, depreciation and amortization excluding the change in right-of-use assets and debt issuance costs. Adjusted EBITDA includes adjustments related to restructuring costs, loss on sale of assets, impairment of assets held for sale, loss on sale of equity method investment and our proportional share of EBITDA adjustments of our equity method investees. Management believes these measures provide useful information to investors for comparison with peer and other companies. These measures should not be considered alternatives to net income or segment operating income, which are determined in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). These non-GAAP calculations may vary from company to company. Accordingly, the company’s computation of adjusted EBITDA, segment EBITDA and consolidated ethanol crush margins may not be comparable with similarly titled measures of another company.

About Green Plains Inc.

Green Plains Inc. (NASDAQ:GPRE) is a leading biorefining company focused on disciplined execution and leadership in low‑carbon biofuels and high‑value ingredients. The company operates a performance‑driven platform focused on maximizing yield, lowering carbon intensity, and delivering long‑term value through responsible capital deployment. For more information, visit www.gpreinc.com.

Forward-Looking Statements

All statements in this press release (and oral statements made regarding the subjects of this communication), including those that express a belief, expectation or intention, may be considered forward-looking statements (as defined in Section 21E of the Securities Exchange Act, as amended, and Section 27A of the Securities Act of 1933, as amended) that involve risks and uncertainties that could cause actual results to differ materially from projected results. Without limiting the generality of the foregoing, forward-looking statements contained in this communication include statements relying on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of the company, which could cause actual results to differ materially from such statements. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include, but are not limited to the expected future growth, dividends and distributions; and plans and objectives of management for future operations. Forward-looking statements may be identified by words such as “believe,” “intend,” “expect,” “may,” “should,” “will,” “anticipate,” “could,” “estimate,” “plan,” “predict,” “project” and variations of these words or similar expressions (or the negative versions of such words or expressions). While the company believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. Among the factors that could cause results to differ materially from those indicated by such forward-looking statements are: the failure to realize the anticipated results from the new products being developed or new technologies being deployed; the failure to realize the anticipated selling, general and administrative expense savings from restructuring; local, regional and national economic conditions and the impact they may have on the company and its customers; disruption caused by health epidemics; conditions in the ethanol and biofuels industry, including a sustained decrease in the level of supply or demand for ethanol and biofuels or a sustained decrease in the price of ethanol or biofuels, distillers grains, Ultra-High Protein, and renewable corn oil; competition in the ethanol industry and other industries in which we operate; commodity market risks, including those that may result from weather conditions, changes in government policies, and global political or economic issues; the financial condition of the company’s customers and counterparties; any non-performance by customers and counterparties of their contractual obligations; changes in safety, health, environmental and other governmental policy and regulation, including

changes to tax laws such as the One Big Beautiful Bill Act, tariffs, renewable fuel programs, tax credit programs, and low carbon programs; risks related to acquisition and disposition activities and achieving anticipated results; risks associated with merchant trading; the results of any reviews, investigations or other proceedings by government authorities; the performance of the company; and other factors detailed in reports filed with the Securities and Exchange Commission (the “SEC”).

The foregoing list of factors is not exhaustive. The forward-looking statements in this press release speak only as of the date they are made and the company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities and other applicable laws. We have based these forward-looking statements on our current expectations and assumptions about future events. While the company’s management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the company’s control. These risks, contingencies and uncertainties relate to, among other matters, the risks and uncertainties set forth in the “Risk Factors” section of the company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC, and any subsequent reports filed by the company with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.

GREEN PLAINS INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

June 30, 2026 December 31, 2025

(unaudited)

ASSETS

Current assets

Cash and cash equivalents $ 185,384 $ 182,319

Restricted cash 57,691 47,813

Accounts receivable, net 79,584 74,374

Inventories 128,563 148,095

Production tax credits 133,182 40,328

Prepaid expenses and other 17,051 18,117

Derivative financial instruments 23,997 11,494

Total current assets 625,452 522,540

Property and equipment, net 918,053 957,256

Operating lease right-of-use assets 63,798 63,849

Other assets 49,764 41,242

Total assets $ 1,657,067 $ 1,584,887

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities

Accounts payable $ 94,688 $ 134,912

Accrued and other liabilities 42,530 39,427

Unearned revenue 29,902 27,401

Derivative financial instruments 26,605 7,901

Operating lease current liabilities 23,508 21,557

Short-term notes payable and other borrowings 27,004 33,584

Current maturities of long-term debt 69,510 3,924

Total current liabilities 313,747 268,706

Long-term debt 387,176 361,992

Operating lease long-term liabilities 41,436 43,648

Carbon equipment liabilities 12,360 104,217

Other liabilities 32,503 34,353

Total liabilities 787,222 812,916

Stockholders' equity

Total Green Plains stockholders' equity 869,934 766,247

Noncontrolling interests (89) 5,724

Total stockholders' equity 869,845 771,971

Total liabilities and stockholders' equity $ 1,657,067 $ 1,584,887

GREEN PLAINS INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited, in thousands except per share amounts)

Three Months Ended

June 30, Six Months Ended

June 30,

2026 2025 2026 2025

Revenues $ 446,224 $ 552,829 $ 892,028 $ 1,154,344

Costs and expenses

Cost of goods sold (excluding depreciation and amortization expenses reflected below) 333,194 511,259 691,052 1,109,735

Selling, general and administrative expenses 21,707 27,605 41,244 70,517

Loss on sale of assets — 4,044 — 4,044

Depreciation and amortization expenses 23,449 27,560 47,086 49,947

Impairment of assets held for sale — 10,724 — 10,724

Total costs and expenses 378,350 581,192 779,382 1,244,967

Operating income (loss) 67,874 (28,363) 112,646 (90,623)

Other income (expense)

Interest income 1,449 634 4,369 1,637

Interest expense (8,130) (13,899) (19,615) (22,812)

Other, net 516 (39) 668 (1,554)

Total other expense (6,165) (13,304) (14,578) (22,729)

Income (loss) before income taxes and income (loss) from equity method investees 61,709 (41,667) 98,068 (113,352)

Income tax benefit (expense) 5,485 (2,294) 2,569 (2,400)

Income (loss) from equity method investees, net of income taxes 12 (28,266) 34 (29,116)

Net income (loss) $ 67,206 $ (72,227) $ 100,671 $ (144,868)

Net income attributable to noncontrolling interests 57 11 584 276

Net income (loss) attributable to Green Plains $ 67,149 $ (72,238) $ 100,087 $ (145,144)

Earnings per share

Net income (loss) attributable to Green Plains - basic $ 0.97 $ (1.09) $ 1.45 $ (2.22)

Net income (loss) attributable to Green Plains - diluted $ 0.83 $ (1.09) $ 1.25 $ (2.22)

Weighted average shares outstanding

Basic 69,112 66,491 68,977 65,287

Diluted 84,494 66,491 84,381 65,287

GREEN PLAINS INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited, in thousands)

Six Months Ended

March 31,

2026 2025

Cash flows from operating activities

Net income (loss) $ 100,671 $ (144,868)

Noncash operating adjustments

Depreciation and amortization 47,086 49,947

Loss on sale of assets — 4,044

Impairment of assets held for sale — 10,724

Inventory lower of cost or net realizable value adjustment — 2,255

Stock-based compensation 4,203 11,123

(Income) loss from equity method investees, net of income taxes (34) 29,116

Other 751 8,830

Net change in working capital (105,910) 32,583

Net cash provided by operating activities 46,767 3,754

Cash flows from investing activities

Purchases of property and equipment, net (17,140) (27,853)

Proceeds from the sale of assets 2,000 421

Investment in equity method investees — (4,909)

Net cash used in investing activities (15,140) (32,341)

Cash flows from financing activities

Net payments - long term debt (3,098) (962)

Net payments - short-term borrowings (6,580) (60,962)

Net proceeds from product financing arrangement — 37,146

Purchase of minority interests (4,700) —

Other (4,306) (3,310)

Net cash used in financing activities (18,684) (28,088)

Net change in cash and cash equivalents, and restricted cash 12,943 (56,675)

Cash and cash equivalents, and restricted cash, beginning of period 230,132 209,395

Cash and cash equivalents, and restricted cash, end of period $ 243,075 $ 152,720

Reconciliation of total cash and cash equivalents, and restricted cash

Cash and cash equivalents $ 185,384 $ 108,624

Restricted cash 57,691 44,096

Total cash and cash equivalents, and restricted cash $ 243,075 $ 152,720

GREEN PLAINS INC.

RECONCILIATIONS TO NON-GAAP FINANCIAL MEASURES

(unaudited, in thousands)

Three Months Ended

June 30, Six Months Ended

June 30,

2026 2025 2026 2025

Net income (loss) $ 67,206 $ (72,227) $ 100,671 $ (144,868)

Interest expense 8,130 13,899 19,615 22,812

Income tax (benefit) expense, net of equity method income taxes (5,485) 1,885 (2,569) 1,720

Depreciation and amortization (1)

23,449 27,560 47,086 49,947

EBITDA 93,300 (28,883) 164,803 (70,389)

Restructuring costs — 2,520 — 19,106

Loss on sale of assets — 4,044 — 4,044

Impairment of assets held for sale — 10,724 — 10,724

Loss on sale of equity method investment — 26,987 — 26,987

Proportional share of EBITDA adjustments to equity method investees 45 1,050 90 1,828

Adjusted EBITDA $ 93,345 $ 16,442 $ 164,893 $ (7,700)

(1) Excludes amortization of operating lease right-of-use assets and amortization of debt issuance costs.

Green Plains Inc. Contacts

Investors: Will Joekel, CFA | Vice President, Investor Relations and Treasurer | 402.952.4946 | will.joekel@gpreinc.com

Media: 402.884.8700 | media@gpreinc.com

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Aug. 06, 2026

Cover [Abstract]

Document Type

8-K

Document Period End Date

Aug. 06, 2026

Entity Registrant Name

GREEN PLAINS INC.

Entity Incorporation, State or Country Code

Entity File Number

001-32924

Entity Tax Identification Number

84-1652107

Entity Address, Address Line One

1811 Aksarben Drive

Entity Address, City or Town

Omaha

Entity Address, State or Province

Entity Address, Postal Zip Code

68106

City Area Code

402

Local Phone Number

884-8700

Title of 12(b) Security

Common Stock, par value $0.001 per share

Trading Symbol

GPRE

Security Exchange Name

NASDAQ

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Area code of city

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Cover page.

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For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

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- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

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No definition available.

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- Definition

Address Line 1 such as Attn, Building Name, Street Name

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Name of the City or Town

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Code for the postal or zip code

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Name of the state or province.

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A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Indicate if registrant meets the emerging growth company criteria.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

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No definition available.

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Two-character EDGAR code representing the state or country of incorporation.

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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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-Publisher SEC

-Name Exchange Act

-Number 240

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-Subsection b-2

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Local phone number for entity.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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Title of a 12(b) registered security.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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Name of the Exchange on which a security is registered.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

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Trading symbol of an instrument as listed on an exchange.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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