| Quarter Ended |
3/31/2024 Financial Report
FINANCIAL HIGHLIGHTS
- Comparison of operations for the three months ended:
- Total revenues were down ~$24.2MM quarter over quarter due to a ~30% reduction in ethanol and co-product pricing. Gross profits increased by ~$1.7MM though due to ~41% savings in corn costs as well as ~44% savings on natural gas.
- Working capital is down ~$8.85MM due to a $2,500/unit distribution paid back to owners in the last half of March 2024, totaling $8.563MM.
- Comparison of operations for the six months ended:
- Similar to the trend for the three months ended, revenues decreased ~$36.8MM, yet with an increase in gross profit of ~$7.2MM.
- Crush margin increased ~58% over same period last year.
- Post distribution working capital position over $28.99MM as of March 31, 2024.
- No units traded during the quarter ending March 31, 2024.
| Please be sure to keep Siouxland Ethanol updated on your contact information. This helps ensure you receive your distribution check, tax & other pertinent information timely. Thank you! |
UNAUDITED
| Summary of Operations | 3 Months Ended 3/31/2024 | 3 Months Ended 3/31/2023 | 6 Months Ended 3/31/2024 | 6 Months Ended 3/31/2023 |
|---|---|---|---|---|
| Total Revenues | $ 49,233,431 | $ 73,476,419 | $ 109,699,353 | $ 146,522,646 |
| Gross Profit (Loss) | $ 3,831,095 | $ 2,114,832 | $ 12,575,893 | $ 5,380,335 |
| Net Income (Loss) | $ 3,390,127 | $ 1,630,293 | $ 11,906,873 | $ 4,190,844 |
| Net Income (Loss)/Unit | $ 985 | $ 462 | $ 3,445 | $ 1,187 |
| Distribution/Unit | $ 2,500 | $ - | $ 6,500 | $ 10,000 |
| Balance Sheets | As of 3/31/2024 | As of 9/30/2023 |
|---|---|---|
| Current Assets | $ 40,092,706 | $ 59,817,959 |
| Total Assets | $ 107,721,159 | $ 128,427,307 |
| Current Liabilities | $ 11,103,090 | $ 16,596,861 |
| Long-Term Liabilites | $ 1,896,497 | $ 2,045,246 |
| Members' Equity | $ 94,721,572 | $ 109,785,200 |
| Book Value / Unit | $ 27,656 | $ 31,083 |
| Key Metrics | 3 Months Ended 3/31/2024 | 3 Months Ended 3/31/2023 |
|---|---|---|
| Ethanol Yield (Gal/bu) | 3.01 | 3.00 |
| Corn Oil (Lbs/bu) | 1.1 | 1.04 |
| Ethanol Production (Gal/day) | 279,853 | 281,675 |
| Ethanol Production MGY | 98.8 | 99.4 |
| Natural Gas (BTU/gal) | 23,397 | 23,393 |
| Grid Electricity (KW/gal) | 0.02 | 0.01 |