| Quarter Ended |
6/30/2023 Financial Report
FINANCIAL HIGHLIGHTS
-
- Comparison of operations three months ended:
- Revenues were off nearly $9.5MM primarily due to ethanol netbacks being down ~13% quarter over quarter. Coproduct values were also reduced.
- Our average cost of corn was down slightly and there was a substantial decrease in natural gas costs quarter over quarter contributing to a nearly 7% decrease in overall production costs. But overall, we still experienced a net 25% decrease in gross profit when compared to the same quarter of last fiscal year.
- Comparison of operations nine months ended:
- A strong seasonal rebound for the quarter ending June 30, 2023, has really helped our current fiscal year-to-date revenues and net income. These results, however, are overshadowed a bit when you compare them to the exceptional success of last fiscal year.
- Comparatively year over year through nine months we have seen softer crush margins with ethanol netbacks down ~15% and corn costs up around 13%.
- The plant is running well with a nearly 2% increase in production year over year.
- The strong quarter ending June 2023 has increased our working capital over $35.2MM.
- 2 units traded during the quarter ending June 30, 2023, averaging $30,000/unit.
- Comparison of operations three months ended:
| Tax notice for our nonresident members, due to the passage of a new tax law in Nebraska in June 2023, we will NOT be requiring our non-Nebraska members to complete the form 12N going forward.
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 6/30/2023 | 3 Months Ended 6/30/2022 | 9 Months Ended 6/30/2023 | 9 Months Ended 6/30/2022 |
|---|---|---|---|---|
| Total Revenues | $ 74,916,407 | $ 84,391,076 | $ 221,439,053 | $ 240,151,474 |
| Gross Profit (Loss) | $ 14,982,217 | $ 20,071,738 | $ 20,362,552 | $ 47,820,080 |
| Net Income (Loss) | $ 14,304,367 | $ 26,981,553 | $ 18,495,211 | $ 53,041,046 |
| Net Income (Loss)/Unit | $ 4,050 | $ 7,639 | $ 5,236 | $ 15,017 |
| Distribution/Unit | $ 0 | $ 0 | $ 10,000 | $ 16,000 |
| Balance Sheets | As of 6/30/2023 | As of 9/30/2022 |
|---|---|---|
| Current Assets | $ 44,906,092 | $ 79,005,454 |
| Total Assets | $ 108,384,218 | $ 138,481,945 |
| Current Liabilities | $ 9,629,202 | $ 23,143,766 |
| Long-Term Liabilites | $ 1,531,138 | $ 1,289,512 |
| Members' Equity | $ 97,223,878 | $ 114,048,667 |
| Book Value / Unit | $ 27,527 | $ 32,290 |
| Key Metrics | 3 Months Ended 6/30/2023 | 3 Months Ended 6/30/2022 |
|---|---|---|
| Ethanol Yield (Gal/bu) | 3.02 | 3.01 |
| Corn Oil (Lbs/bu) | 1.03 | 1.07 |
| Ethanol Production (Gal/day) | 279,374 | 272,925 |
| Ethanol Production MGY | 98.6 | 96.3 |
| Natural Gas (BTU/gal) | 22,882 | 22,947 |
| Grid Electricity (KW/gal) | 0.01 | 0.01 |