Southwest Iowa Renewable Energy, LLC Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended June 30, 2018 and Production Results for the Third Quarter and Nine Months Ended June 30, 2018
August 08, 2018 at 01:56 pm EDT
Share
Southwest Iowa Renewable Energy, LLC announced unaudited earnings results for the third quarter and nine months ended June 30, 2018. For the quarter, the company reported revenues of $53,611,000 against $54,052,000 a year ago. Net loss was $3,245,000 against income of $1,929,000 a year ago. Diluted loss per unit was $243.49 against EPS of $134.11 a year ago. LBITDA was $411,000 against EBITDA of $5,235,000 a year ago. Modified EBITDA was $242,000 against $5,243,000 a year ago.
For the nine months, the company reported revenues of $157,708,000 against $162,190,000 a year ago. Net loss was $2,899,000 against income of $9,626,000 a year ago. Diluted loss per unit was $217.53 against EPS of $667.41 a year ago. EBITDA was $6,625,000 against $19,508,000 a year ago. Modified EBITDA was $6,390,000 against $18,848,000 a year ago.
During the third quarter of fiscal 2018, the company produced 29.9 gallons of ethanol, compared to 30.0 gallons during the third quarter of Fiscal 2017.
For the nine months, the company produced 93.5 million gallons of ethanol, compared to 90.9 million gallons in the first nine months of Fiscal 2017.
Southwest Iowa Renewable Energy, LLC is engaged in the production of ethanol. The Company sells its ethanol, distillers grains, corn condensed distillers soluble, distillers corn oil and carbon dioxide (CO2) in the continental United States, Mexico and the Pacific Rim. Its production facility (the Facility) is located in Pottawattamie County in southwestern Iowa, south of Council Bluffs. The principal purchasers of ethanol are wholesale gasoline marketers or blenders. The Company produces approximately 123.3 million and 127.0 million gallons of ethanol. It produces two forms of distillers grains, namely wet distillers grains with solubles (WDGS) and dried distillers grains with solubles (DDGS). The Company's system separates corn oil from the post-fermentation syrup stream as it leaves the evaporators of the ethanol plant. The corn oil is then routed to storage tanks, and the remaining concentrated syrup is routed to the plantâs syrup tank.
Southwest Iowa Renewable Energy, LLC Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended June 30, 2018 and Production Results for the Third Quarter and Nine Months Ended June 30, 2018
SOUTHWEST IOWA RENEWABLE ENERGY, LLC 
