06/30/2019 Financial Report
- Comparison of operations three months ended:
- Ethanol netbacks increased ~6% compared to same quarter of prior year. Quarter over quarter there was some softening in distillers grain prices, however with the increase in plant outputs, overall revenues increased 12%.
- Gross profits down with reduced crush margins resulting from higher corn costs from recent volatility in corn markets.
- Comparison of operations nine months ended:
- Total revenues increased primarily due to ~10% increase in plant outputs along with increased prices on co-product sold over the same prior fiscal period.
- Gross profits down over prior fiscal period with reduced crush margins, again primarily the result of increased corn costs.
- Working capital increased $7.3MM over the prior quarter, rising to $32.4MM as of June 30, 2019.
- No units traded during the quarter ending June 30, 2019.
|Summary of Operations||3 Months Ended 06/30/2019||3 Months Ended 06/30/2018||9 Months Ended 06/30/2019||9 Months Ended 06/30/2018|
|Total Revenues||$ 44,743,903||$ 39,915,701||$ 119,382,463||$ 111,763,364|
|Gross Profit||$ 6,078,964||$ 10,084,913||$ 11,931,029||$ 18,908,148|
|Net Income||$ 5,884,981||$ 9,326,092||$ 10,649,288||$17,081,403|
|Net Income / Unit||$ 1,618||$ 2,564||$ 2,927||$ 4,695|
|Distribution/Unit||-||-||$ 750||$ 1,700|
|Balance Sheets||As of 06/30/2019||As of 09/30/2018|
|Current Assets||$ 38,328,120||$ 45,102,160|
|Total Assets||$ 92,435,275||$ 95,960,464|
|Current Liabilities||$ 5,895,286||$ 6,266,432|
|Long-Term Liabilites||$ 1,605,655||$ 1,688,249|
|Members' Equity||$ 84,934,334||$ 88,005,783|
|Book Value / Unit||$ 23,346||$ 24,191|
|Key Metrics||3 Months Ended 06/30/2019||3 Months Ended 06/30/2018|
|Ethanol Yield (Gal/bu)||3.01||3.00|
|BTU / Gal||20,473||21,451|
|KW / Gal||.54||.56|
|Corn Oil (Lbs/bu)||1.04||1.01|
|Ethanol Production (Gal / day)||265,462||246,338|
|Ethanol Production MGY||93,000,000||87,000,000|
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