| Quarter Ended |
12/31/2022 Financial Report
FINANCIAL HIGHLIGHTS
- 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.
UNAUDITED
| 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! |
