Red Trail Energy, LLC Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2023
May 15, 2023 at 05:28 pm EDT
Share
Red Trail Energy, LLC reported earnings results for the second quarter and six months ended March 31, 2023. For the second quarter, the company reported sales was USD 54.65 million compared to USD 51.68 million a year ago. Net loss was USD 0.79945 million compared to net income of USD 4.44 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to basic earnings per share from continuing operations of USD 0.11 a year ago. Diluted loss per share from continuing operations was USD 0.02 compared to diluted earnings per share from continuing operations of USD 0.11 a year ago.
For the six months, sales was USD 99.15 million compared to USD 112.5 million a year ago. Net income was USD 1.07 million compared to USD 23.81 million a year ago. Basic earnings per share from continuing operations was USD 0.03 compared to USD 0.59 a year ago. Diluted earnings per share from continuing operations was USD 0.03 compared to USD 0.59 a year ago.
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.
RED TRAIL ENERGY, LLC 
