12/31/2022 Financial Report
- Comparison of operations for three months ended:
- Ethanol values have softened recently and is the primary reason for the nearly 16% reduction in total revenues quarter over quarter.
- Demand for corn remains strong resulting in a 33% increase in our cost of corn quarter over quarter.
- The combination of lower ethanol netbacks but continued higher corn costs has resulted in a nearly 73% reduction in our crush margins and the ~$25.3MM reduction in gross profits quarter over quarter.
- Working capital down, but we maintain a strong working capital position over $22.6MM. The ~$33.2MM decrease in working capital since the beginning of the fiscal year primarily the result of:
- $10,000/unit distribution paid the last week of October 2022, totaling $35.320MM distributed back to the owners.
- No units traded during the quarter ending 12/31/2022.
|Summary of Operations||3 Months Ended 12/31/2022||3 Months Ended 12/31/2021|
|Total Revenues||$ 73,046,227||$ 86,770,203|
|Gross Profit (Loss)||$ 3,265,503||$ 28,588,446|
|Net Income (Loss)||$ 2,560,551||$ 27,565,724|
|Net Income (Loss)/Unit||$ 725||$ 7,805|
|Distribution/Unit||$ 10,000||$ 10,000|
|Balance Sheets||As of 12/31/2022||As of 9/30/2022|
|Current Assets||$ 62,389,809||$ 79,005,454|
|Total Assets||$ 122,654,373||$ 138,481,945|
|Current Liabilities||$ 39,738,521||$ 23,143,766|
|Long-Term Liabilites||$ 1,626,635||$ 1,289,512|
|Members' Equity||$ 81,289,217||$ 114,048,667|
|Book Value / Unit||$ 23,015||$ 32,290|
|Key Metrics||3 Months Ended 12/31/2022||3 Months Ended 12/31/2021|
|Ethanol Yield (Gal/bu)||2.99||3.02|
|Corn Oil (Lbs/bu)||1.01||1.06|
|Ethanol Production (Gal/day)||278,147||277,802|
|Ethanol Production MGY||98.2||98.1|
|Natural Gas (BTU/gal)||23,462||23,226|
|Grid Electricity (KW/gal)||0.01||0.04|
|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!|