| Quarter Ended |
3/31/2022 Financial Report
FINANCIAL HIGHLIGHTS
- Comparison of operations for three months ended:
- Total revenues were up nearly $18.5MM, or 36.5% primarily on higher ethanol values when compared to the same quarter of prior fiscal year. Production was also up nearly 12% quarter over quarter.
- Although revenues were higher when compared to the same quarter last year, during the current quarter ethanol crush margins have weakened. These weaker margins in conjunction with unrealized hedge losses have resulted in a negative gross profit for the quarter.
- Comparison of operations for the six months ended:
- While gross profits were down for the quarter, our fiscal YTD revenues and gross profits are still at record levels through the first six months of the fiscal year.
- The board declared a $6,000/unit distribution at their March 2022 board meeting. Combined with the distribution paid last October of $10,000/unit, these two distributions total $56,512,000 paid to members this fiscal year to date.
- Post distribution working capital remains strong at $27.5MM.
- No units traded during the quarter ending 3/31/2022.
UNAUDITED
| Summary of Operations | 3 Months Ended 3/31/2022 | 3 Months Ended 3/31/2021 | 6 Months Ended 3/31/2022 | 6 Months Ended 3/31/2021 |
|---|---|---|---|---|
| Total Revenues | $ 68,990,196 | $ 50,526,220 | $ 155,760,398 | $ 88,403,458 |
| Gross Profit (Loss) | $ (840,105) | $ 4,348,375 | $ 27,748,342 | $ 103,310 |
| Net Income (Loss) | $ (1,506,231) | $ 4,350,859 | $ 26,059,493 | $ 223,365 |
| Net Income (Loss)/Unit | $ (426) | $ 1,232 | $ 7,378 | $ 63 |
| Distribution/Unit | $ 6,000 | $ - | $ 16,000 | $ 1,000 |
| Balance Sheets | As of 3/31/2022 | As of 9/30/2021 |
|---|---|---|
| Current Assets | $ 33,049,416 | $ 69,637,995 |
| Total Assets | $ 91,400,220 | $ 129,841,397 |
| Current Liabilities | $ 5,533,110 | $ 13,486,870 |
| Long-Term Liabilites | $ 1,324,424 | $ 1,359,336 |
| Members' Equity | $ 84,542,686 | $ 114,995,191 |
| Book Value / Unit | $ 23,936 | $ 32,558 |
| Key Metrics | 3 Months Ended 3/31/2022 | 3 Months Ended 3/31/2021 |
|---|---|---|
| Ethanol Yield (Gal/bu) | 3.02 | 3.01 |
| Corn Oil (Lbs/bu) | 1.05 | 1.01 |
| Ethanol Production (Gal/day) | 272,908 | 261,850 |
| Ethanol Production MGY | 96.3 | 92.4 |
| 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! |
