Red Trail Energy, Llc Reports Earnings Results for the Second Quarter Ended March 31, 2020
May 15, 2020 at 11:27 am EDT
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Red Trail Energy, LLC announced earnings results for the second quarter ended March 31, 2020. For the second quarter, the company announced sales was USD 23.638 million compared to USD 26.231 million a year ago. Operating loss was USD 3.394 million compared to USD 1.677 million a year ago. Net loss was USD 3.235 million compared to USD 1.423 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to USD 0.04 a year ago. For the half year, sales was USD 49.979 million compared to USD 52.140 million a year ago. Operating loss was USD 4.692 million compared to USD 1.304 million a year ago. Net loss was USD 4.487 million compared to USD 1.020 million a year ago. Basic loss per share from continuing operations was USD 0.11 compared to USD 0.03 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.