| Quarter Ended |
12/31/2023 Financial Report
FINANCIAL HIGHLIGHTS
- Comparison of operations for the three months ended:
- When you compare our first quarter of FY24 vs FY23, although our total revenues are down ~$12.6MM, our gross profit still increased nearly $5.5MM. The primary reasons for the 168% increase in gross profits were due to savings in our corn and natural gas costs. Corn costs were down over $2/bushel or ~33% when compared to Q1 FY23. Natural gas costs were down nearly 50% compared to Q1 FY23.
- Working capital decreased nearly $5.4MM since 9/30/2023, mainly the result of the $4,000/unit distribution, totaling $14.128MM, that was distributed to the owners in October 2023.
- No units traded during the quarter ending 12/31/2023.
UNIT REPURCHASE RESULTS: At their January 15, 2024, meeting the Board of Directors accepted and approved the tender of 105 member units for purchase at a price of $40,000 per unit. This leaves Siouxland Ethanol with 675 members totaling 3,427 units outstanding.
| 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 12/31/2023 | 3 Months Ended 12/31/2022 |
|---|---|---|
| Total Revenues | $ 60,465,922 | $ 73,046,227 |
| Gross Profit (Loss) | $ 8,744,798 | $ 3,265,503 |
| Net Income (Loss) | $ 8,516,747 | $ 2,560,551 |
| Net Income (Loss)/Unit | $ 2,411 | $ 725 |
| Distribution/Unit | $ 4,000 | $ 10,000 |
| Balance Sheets | As of 12/31/2023 | As of 9/30/2023 |
|---|---|---|
| Current Assets | $ 68,631,158 | $ 59,817,959 |
| Total Assets | $ 136,935,408 | $ 128,427,307 |
| Current Liabilities | $ 30,788,016 | $ 16,596,861 |
| Long-Term Liabilites | $ 1,973,447 | $ 2,045,246 |
| Members' Equity | $ 104,173,945 | $ 109,785,200 |
| Book Value / Unit | $ 29,494 | $ 31,083 |
| Key Metrics | 3 Months Ended 12/31/2023 | 3 Months Ended 12/31/2022 |
|---|---|---|
| Ethanol Yield (Gal/bu) | 3.00 | 2.99 |
| Corn Oil (Lbs/bu) | 1.10 | 1.01 |
| Ethanol Production (Gal/day) | 284,155 | 278,147 |
| Ethanol Production MGY | 100.3 | 98.2 |
| Natural Gas (BTU/gal) | 23,244 | 23,462 |
| Grid Electricity (KW/gal) | 0.01 | 0.01 |