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 |