Southwest Iowa Renewable Energy, Llc Reports Earnings Results for the Third Quarter Ended June 30, 2021
August 13, 2021 at 04:43 pm EDT
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Southwest Iowa Renewable Energy, LLC announced earnings results for the third quarter ended June 30, 2021. For the third quarter, the company announced sales was USD 87.869 million compared to USD 34.107 million a year ago. Operating income was USD 7.263 million compared to operating loss of USD 1.221 million a year ago. Net income was USD 6.754 million compared to net loss of USD 1.417 million a year ago. Basic earnings per share from continuing operations was USD 752.53 compared to basic loss per share from continuing operations of USD 157.88 a year ago. For the nine months, sales was USD 213.280 million compared to USD 146.500 million a year ago. Operating income was USD 5.221 million compared to operating loss of USD 1.168 million a year ago. Net income was USD 4.719 million compared to net loss of USD 2.314 million a year ago. Basic earnings per share from continuing operations was USD 525.79 compared to basic loss per share from continuing operations of USD 226.64 a year ago.
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 
