Red Trail Energy, LLC Reports Earnings Results for the Full Year Ended September 30, 2021
December 17, 2021 at 04:57 pm EST
Share
Red Trail Energy, LLC reported earnings results for the full year ended September 30, 2021. For the full year, the company reported sales was USD 119.08 million compared to USD 94.18 million a year ago. Net income was USD 12.63 million compared to USD 0.006588 million a year ago. Basic earnings per share from continuing operations was USD 0.31. Diluted earnings per share from continuing operations was USD 0.31.
Red Trail Energy, LLC owns and operates a 50-million-gallon annual name-plate production ethanol plant near Richardton, North Dakota. The principal products that the Company produces are ethanol, distillers grains, and corn oil. Ethanol is ethyl alcohol, a fuel component made primarily from corn and various other grains, which can be used as an octane enhancer in fuels; an oxygenated fuel additive for the purpose of reducing ozone and carbon monoxide vehicle emissions, and a non-petroleum-based gasoline substitute. It produces two forms of distillers grains: distillers dried grains and modified distillers grains. Modified distillers grains is processed corn mash that has been dried to approximately 50% moisture which has a shelf life of approximately seven days. Distillers dried grains is processed corn mash that has been dried to approximately 10% moisture. The primary uses of the corn oil that the Company produces are for animal feed, industrial uses, and biodiesel production.