Cardinal Ethanol, Llc Reports Earnings Results for the Third Quarter Ended June 30, 2020
August 10, 2020 at 11:51 pm IST
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Cardinal Ethanol, LLC announced earnings results for the third quarter ended June 30, 2020. For the third quarter, the company announced sales was USD 51.252 million compared to USD 63.665 million a year ago. Operating income was USD 67,815 compared to operating loss of USD 513,297 a year ago. Net income was USD 35,096 compared to net loss of USD 5,727 a year ago. Basic earnings per share from continuing operations was USD 2. For the nine months, sales was USD 182.267 million compared to USD 178.171 million a year ago. Operating loss was USD 4.786 million compared to USD 3.086 million a year ago. Net loss was USD 4.526 million compared to USD 2.737 million a year ago. Basic loss per share from continuing operations was USD 310 compared to USD 187 a year ago.
Cardinal Ethanol, LLC and its subsidiaries is engaged in producing fuel-grade ethanol, distillers grains, corn oil and carbon dioxide near Union City, Indiana and sells these products throughout the continental United States. In addition, the Company procures, transports, and sells grain commodities through grain operations. Its divisions include ethanol and trading. Its ethanol division markets and sells ethanol and its co-products primarily in the continental United States using third party marketers. Its ethanol products are marketed by Murex, LLC and distillers grains are marketed by CHS, Inc. It markets and distributes all the corn oil it produces directly to end users and third-party brokers. The Company's trading division has a grain loading facility within its single site to buy, hold and sell inventories of agricultural grains, primarily soybeans. It performs no additional processing of these grains, unlike the corn inventory the Company holds and uses in ethanol production.
CARDINAL ETHANOL, LLC 
